Wireless Telecom Group acquires CommAgility
The combination of Wireless Telecom and CommAgility brings together two complementary companies with common core competencies designing custom and semi-custom RF solutions for overlapping end markets.
CommAgility expects continued momentum designing custom LTE network solutions for the U.S. defense market, where Wireless Telecom has an entrenched position with its Boonton and Noisecom businesses.
CommAgility also significantly enhances the Company’s Microlab offering for small cell and distributed antenna systems supporting carriers’ ever growing need for network coverage and capacity.
The initial purchase price for CommAgility is comprised of $12.5 million in cash and $6.25 million of Wireless Telecom common stock.
The total purchase consideration includes up to $12.5 million of additional cash consideration in the form of a 24-month earn-out.
The cash portion of the consideration at close was funded from a combination of cash on hand and borrowings from a newly issued senior credit facility from Bank of America, N.A.
The board of directors of both companies unanimously approved the transaction which closed simultaneously with the execution of the definitive agreement. ■