- December 17, 2021
- Posted by: Stratford Team
- Category: Business
By Chris Wack
Wireless Telecom Group Inc. said Friday it is selling its Microlab LLC radio frequency components business to RF Industries Inc. for a cash consideration of $24.25 million.
Wireless Telecom said that after the transaction is completed, it would be debt free and have $17 million in cash and cash equivalents.
Following the sale, Wireless Telecom said its strategy would continue to focus on specialized software and test and measurement solutions to address customer’s unique pain points developing their differentiated solutions in the semiconductor, satellite, aerospace and defense sectors.
At the completion of the transaction, Wireless Telecom would be comprised of Boonton, Holzworth and Noisecom brands within its test and measurement product group, and the CommAgility brand within its radio, baseband, and software product group.
Wireless Telecom shares were up 13%, to $2.03, in premarket trading.
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