French giant Thales has acquired Israeli satellite company GetSAT, which provides efficient antennas and terminals for high data rate communications and is based in Rehovot, a company executive told the website Breaking Defense. The company reportedly confirmed it was buying the Israeli company. The purchase price was not disclosed. Calcalist previously revealed that MP Benny Gantz owns 2.37% of the Israeli company’s shares.
“Thales has confirmed the acquisition of GET Sat,” a Thales official told Breaking Defense. “Get SAT will complement Thales’ existing global SATCOM business and strengthen our leading position in secure satellite communications services and communications integration.”
Thales has a market capitalization of over $35 billion, more than 78,000 employees and annual revenue of €18.43 billion as of 2023.
Thales said the motivation for the acquisition was Elon Musk’s space company SpaceX. “Thanks to Elon Musk and SpaceX, market requirements are changing dramatically,” Aaron Brosnan, president of Thales subsidiary Tampa Microwave, told Breaking Defense. [US Defense Department] What we need is a terminal that can operate on any orbit, on any network, on any band, even while on the move.”
Get SAT was founded in 2013 by CEO Kfir Benjamin, a veteran of the Israel Defense Forces’ drone unit, and Oleg Roytberg, a veteran of 8200. The two own the company’s management team and employ about 40 people.