Secure communications company Vislink has acquired the entire share capital of Gigawave in a deal worth £3.75 million.

Secure communications company Vislink has acquired the entire share capital of Gigawave in a deal worth £3.75 million.

Essex-headquartered Gigawave is a privately-owned business by individual shareholders and designs, manufactures and supplies wireless cameras, microwave and antenna products for the broadcast market.

The deal is said to complement Vislink’s engineering capabilities, product portfolio and geographic reach.

Vislink chief executive, John Hawkins, comments: ‘The Gigawave business and its management are well known to us and we look forward to the Gigawave and Vislink teams working together, sharing product developments, distribution and sales opportunities.’

Under the terms of the deal Gigawave will be integrated into Vislink’s operations with its founder and existing managing director, Henry Barczynski, serving Vislink as chief marketing officer.

Gigawave had reported sales of £12.53 million in the year to end 30 April 2010, which resulted in a loss before tax of £970,000.

An initial £1.75 million in cash is to be paid on completion with an additional £1 million payable on the next two anniversaries of the deal completion date.

The acquisition is the first for Vislink since its August 2008 £9.1 million purchase of US-based Pacific Microwave Research.