- The American Wireless Telecom Group announced the signing of an agreement to acquire its compatriot Holzworth Instrumentation, a Boulder, Colorado-based supplier of phase noise analyzers and signal generators.
- The American group already owns the Boonton Electronics, CommAgility, Microlab and Noisecom brands, which offer components, modules, systems and instruments in the field of radio frequencies and microwaves.
- Boonton Electronics is specialized in RF power measurement instruments while Noisecom is a supplier of noise generators.
“Holzworth’s offer is complementary to our power measurement and noise generation solutions. This acquisition is part of our growth strategy in the field of test and measurement solutions essential to the development of wireless technologies in the fields of radar, satellite communications and 5G,” said Timothy Whelan, CEO of Wireless Telecom Group.
Holzworth will benefit from a broader sales network, a broader customer base and a global team of RF and microwave experts.
The initial purchase price for Holzworth is comprised of $8.0 million of cash payable at closing, $1.5 million in deferred cash payments, subject to minimum EBITDA (as defined in the acquisition agreement) thresholds, and $500,000 of Wireless Telecom Group common stock based on the 90-day volume weighted average share price of $1.44 per share. The shares will be subject to a 36-month lock-up provision.
The transaction closing is conditioned upon the Wireless Telecom Group obtaining proceeds from a debt financing in an amount sufficient to pay the total closing cash consideration of the acquisition of $8.0 million. The Company is engaged in a process to obtain such financing.
The Holzworth Acquisition Agreement also includes the customary representations, warranties and indemnities of Wireless Telecom Group and Holzworth, and is subject to customary closing conditions in addition to the debt financing condition.
- Wireless Telecom Group
Combining the brands Boonton Electronics, CommAgility, Microlab and Noisecom, Wireless Telecom Group’s offer includes peak power meters, signal analyzers, signal processing modules, LTE PHY and stack software, power dividers and combiners, GPS repeaters, public safety monitors, noise sources and programmable noise generators. Wireless Telecom Group, headquartered in Parsippany, New Jersey, in the New York region, has a network of sales and service offices around the world.
- Holzworth Instrumentation
Holzworth Instrumentation has been a supplier of signal sources and phase noise analyzers since 2004. Its broadband, phase-coherent radio frequency and microwave synthesizers are characterized by their low phase noise level, spectral purity and fast switching speed.