Tech Dealmaker Awards

A California company chose a Quincy company focused on compression when it sought to expand.

Intelligent Compression Technologies Inc. agreed to be purchased by San Diego-based ViaSat Inc. for $54.9 million on Feb. 20, 2007.

Quincy-based ICT provides corporations, Internet service providers, and satellite/wireless carriers with patented data compression techniques, advanced transport protocols, and application optimization to increase the speeds of either narrowband or broadband terrestrial, wireless, or satellite services.

“ViaSat has a technology and business culture where our business and people can thrive, and there are many opportunities for us to successfully grow our business while also applying our talents to give ViaSat products an additional advantage in the marketplace,” said Michael Slygh, president of ICT, who remains with the company.

The initial purchase price of approximately $20 million (composed of approximately $6.5 million in cash and 417,000 shares of ViaSat stock) was bolstered by an additional consideration of up to $34.3 million to be paid in cash and/or stock based on ICT meeting certain financial performance targets over the next two years.

“This acquisition complements virtually all of our satellite and data link networks with leading-edge compression and acceleration technologies,” said Mark Dankberg, ViaSat chairman and CEO. “We’ve found that the ICT Accelenet family of products substantially speeds web browsing and accelerates leading office applications, while simultaneously reducing network congestion. These benefits can extend to any of our consumer, enterprise, or government customers.”

— Bridget Botelho is a freelance writer in Providence, R.I.

Category

Top Software/Services M&A Deals Sell Side

The Deal

ViaSat Inc. bought ICT for $54.9 million. Closed on Feb. 20, 2007.

Key Executives

Michael Slygh, president, ICT; Bill Sebastian: CTO, ICT.

Deal advisers

Covington Associates LLC; Holland & Knight LLP.

• Platinum Sponsor:
• Gold Sponsors: Capital Source
  Silicon Valley Bank
  TM Capital
  Vitale, Caturano & Co.
• Silver Sponsors: Capital IQ
  Citizens Bank
• Supporting Sponsors: Mass High Tech
  Preston Productions
  Trinity Communications

Become a Sponsor »