RF Industries Agreement to Purchase Microlab LLC

RF Industries has entered into an agreement to purchase Microlab LLC radio frequency components business from Wireless Telecom Group. The boards of directors of the two companies unanimously approved the transaction, which is subject to various terms and conditions, including approval by Wireless Telecom Group’s shareholders. After the transaction, Wireless Telecom Group will 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. The transaction will allow Wireless Telecom Group to prepare for the next stage of transformation with a stronger concentration of revenues and the ability to focus its investments on satellite communications, 5G small cell, and private network deployments, and growth in applications related to semiconductor testing, military and defense spending and quantum computing.