Photo: Comtech

Gilat Satellite Networks has moved to acquire Comtech’s [CMTL] Satellite and Space Communications segment, in a deal announced Monday to bring together two major players in the satellite ground technology segment. Gilat, based in Israel, emphasized the acquisition will significantly expand its U.S. presence and exposure to the U.S. defense market. Gilat will acquire Comtech for $157.5 million in cash, with $10 million paid on June 15. The deal is expected to close by the end of the year. It is subject…