Balaton Group to acquire MotoSAT

Balaton Group announced Tuesday that they have entered into an agreement to purchase Salt Lake City based MotoSAT, a provider of mobile and automated satellite antenna solutions.

The financial terms of the deal, which is set to close later this year, were not released.

Jim Pendleton, MotoSAT’s president, said in press release that it was the "right time" to turn the firm over to a company like Balaton Group, which has the resources to help the company grow.

In the same statement, Balaton CEO Robert Kubbernus said that MotoSAT is poised for expansion into global markets and that due to some of the company’s recent innovations, they saw a "significant growth opportunity" in the company.