EMS Technologies Inc., a maker of wireless-communications hardware, said Friday it has agreed to pay up to $55 million to buy a defense contractor specializing in servers and other machines for delivering in-flight Internet for airlines.
The Atlanta company said it is buying Moorestown, N.J.-based Formation Inc. for $40 million, but added the company has promised to increase that amount by up to $15 million more if Formation hits certain financial targets.
EMS Technologies’ Chief Executive Officer Paul Domorski said in a statement that the acquisition is designed to meet the growing demand from airlines, business aircraft owners and governments for wireless Internet connections for their planes. Formation’s hottest products are servers and wireless access points that deliver broadband connections to computers inside the cabins of those planes, according to the company.
EMS Technologies said the deal is expected to close by the end of the year.
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