Maury Microwave Completes Acquisition of Wireless Telecom Group
Parsippany, New Jersey, USA, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Wireless Telecom Group, Inc. (the "Company" or "WTT"), a leading test & measurement solutions provider, today announced that Maury Microwave, a leading provider of state-of-the-art RF measurement and interconnect solutions for wireless communication technologies, completed its previously announced acquisition of WTT.
"The combination of Maury Microwave and WTT, including its prominent test and measurement divisions Boonton, Holzworth, and Noisecom, will enable us to provide even more comprehensive solutions and superior service to our customers," Maury Microwave Executive Chairman Bill Pezza said. "We welcome the talented team from WTT to the Maury organization and look forward to a future of innovative growth together."
Daniel Monopoli, WTT's General Manager stated, "At WTT, we are all excited to collaborate with the Maury team to usher in the Company's next phase of growth and look forward to developing a complementary technology portfolio that provides even greater value to our customers, suppliers, and employees."
The all-cash transaction was announced on May 25, 2023. Under the terms of the merger agreement, Maury acquired all the outstanding shares of the Company for cash consideration of $2.13 per share. Payment of the merger consideration will be made as promptly as practical following receipt of written confirmation of administrative approval by the State of New Jersey, which is expected in approximately seven business days.
In connection with the completion of the transaction, WTT's common stock ceased trading and is no longer listed on the NYSE American.
Advisors
CDX Advisors served as exclusive financial advisor and Bryan Cave Leighton Paisner LLP served as legal counsel to WTT. Morgan, Lewis & Bockius LLP served as legal counsel to Maury Microwave.
About Wireless Telecom Group, Inc.
Wireless Telecom Group, Inc., comprised of Boonton, Holzworth, and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems, and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, and semiconductor industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal generators, phase noise analyzers, signal processing modules, noise sources, and programmable noise generators, Wireless Telecom Group enables the development, testing, and deployment of wireless technologies around the globe. Wireless Telecom Group is headquartered in Parsippany, New Jersey, in the New York City metropolitan area, and maintains a global network of Sales and Service offices for excellent product service and support. Wireless Telecom Group's website address is http://www.wirelesstelecomgroup.com.
About Maury Microwave, Inc.
Headquartered in Ontario, CA, Maury Microwave, Inc. designs and manufactures state-of-the-art RF measurement and interconnect solutions that enable the world's best wireless communication technologies and networks to get better, faster, and stronger.
For more information, please visit https://www.maurymw.com
Contacts
Michael Kandell
25 Eastmans Road
Parsippany, NJ 07054
Tel: (973) 386-9696
Fax: (973) 386-9191
www.wirelesstelecomgroup.com
