AltX-listed Poynting Antennas, a company which designs, manufactures and sells cellular GSM and wireless data network product solutions, mini-GSM base stations, and defence and specialised antenna systems, announced today that on Friday, 29 June 2012, an agreement was signed between Poynting Antennas and Radiant Antennas, whereby Poynting acquired Radiant as of 1 July 2012.
The Defence and Specialised Division of Poynting services, predominantly the ITU, SIGINT and EW antenna market, whereas Radiant designs, manufactures and sells HF and V/UHF communication antennas and system solutions. Radiant also offers tactical mast solutions and some commercial products.
MD of Poynting Antennas, Juergen Dresel, and GM of Radiant Antennas, Graeme Davis, have strategised and negotiated this deal for several months. “Both companies see significant strategic benefit in joining forces as the product lines will complement each other, yet the market which we serve is similar,” says Dresel.
Further, Dresel says: “We are very pleased to welcome Graeme Davis as part of our Poynting team moving forward. Graeme is very respected in the local antenna market and has managed to attract key accounts with well-known overseas radio manufacturers.
“It is the second acquisition Poynting has done, and it will help Poynting to further grow shareholder value. Poynting’s share price just recently hit its highest value since its listing in 2008, which provides favourable conditions to look for further acquisitions for the various divisions in the Poynting group,” says Dresel.