RF INDUSTRIES has completed its acquisition of privately owned Cables Unlimited, Inc. (CUI), effective June 16. The purchase price for the cash-and-equity deal was $5,600,000. RF Industries paid $2,800,000 in cash and issued 762,738 shares of common stock to the seller at closing. In addition, Darren Clarkthe sole owner and co-founder of Cables Unlimitedhas been added to RF Industries' board of directors.
Based out of Long Island, NY, CUI reported revenue of approximately $6,200,000 along with non-audited, non-GAAP-adjusted EBITDA of approximately $645,000in the 12-month period ending December 31, 2010. In addition to CUI's fiber-optic cabling and connector product lines, the acquisition provides San Diego-based RF Industries with an East Coast presence.
