Wireless Telecom Group, Inc. (NYSE American: WTT) has signed a definitive agreement to acquire Holzworth Instrumentation Inc., a Boulder, Colorado based provider of specialty phase noise analyzers and signal generators, the company said.
Holzworth instruments are used by government labs, the semiconductor industry, and network equipment providers, among others, in research and automated test environments. The company expects to close this acquisition in the months ahead.
The initial purchase price for Holzworth is comprised of USD 8.0 million of cash payable at closing, USD 1.5 million in deferred cash payments, subject to minimum EBITDA thresholds, and USD 500,000 of Wireless Telecom Group Inc. common stock based on the 90-day volume weighted average share price of USD 1.44 per share. The shares will be subject to a 36-month lock-up provision. Additional details of the agreement are set forth in a Form 8-K filed by the company today.
Wireless Telecom Group, Inc., comprised of Boonton Electronics, CommAgility, Microlab and Noisecom, is a global designer and manufacturer of advanced radio frequency and microwave components, modules, systems and instruments. Wireless Telecom Group´s website address is http://www.wirelesstelecomgroup.com.
Holzworth Instrumentation Inc. has been a global provider of high-performance signal sources and phase noise analyzers since 2004. Holzworth´s website address is http://www.holzworth.com.