On July 20, 2017, Hytera Communications Co. Ltd. (Hytera) completed its acquisition of Norsat International Inc. (Norsat) (TSX: NII and NYSE MKT: NSAT), by way of plan of arrangement. Pursuant to the arrangement, Hytera Project Corp., a wholly owned indirect subsidiary of Hytera Communications, directly acquired ownership and control over 5,848,808 common shares of Norsat, which represents 100 per cent of the issued and outstanding Norsat Shares. The total consideration paid for the 5,848,808 Norsat Shares was US$67.3 million or C$85.2 million.
Hytera is a leading global provider of innovative Professional Mobile Radio (PMR) communications solutions to public and private company clients across all major key industry sectors.
Norsat is a provider of unique and customized communication solutions for remote and challenging applications.
Baker McKenzie acted as counsel to Hytera Communications and its subsidiary in Canada with a team led by Charlie MacCready that included Ora Wexler, Arlan Gates, Yana Ermak, Paul Burns and Brian Cacic.McMillan LLP acted as counsel to Norsat International with a team led by Leo Raffin that included Marina Tran, Dan Edmondstone, Peter Botz, Cory Kent and Michael Taylor.