Wireless Telecom Agrees To Acquire Willtek

Oct. 22, 2004
Wireless Telecom Group, the parent company of NoiseCom, Microlab/FXR, and Boonton Electronics, has announced entering into a definitive agreement to acquire all of the outstanding capital stock of privately held Willtek Communications GmbH. The ...

Wireless Telecom Group, the parent company of NoiseCom, Microlab/FXR, and Boonton Electronics, has announced entering into a definitive agreement to acquire all of the outstanding capital stock of privately held Willtek Communications GmbH. The acquisition, from the venture capital arm of the international investment group Investcorp and Willtek's Chief Executive Officer, Cyrille Damany, is for $7 million in cash and 8 million shares of Wireless Telecom common stock, as well as the assumption of certain liabilities and obligations valued at $4.8 million. As a result of the acquisition, Willtek will become a wholly owned subsidiary of Wireless Telecom. Willtek, with about 150 people headquartered in Ismaning, Germany, is a leading provider of solutions that enable manufacturers and operators of wireless communications devices to test mobile phones, air interface, and base stations of cellular networks.

According to Wireless Telecom Chairman of the Board and acting Chief Executive Officer Gary Simonyan, "This acquisition represents a core component of our strategy -to develop a global leadership position in the wireless testing equipment market. Simonyan added that "We believe that this acquisition will not only increase our revenues, but that it will also make our combined company a more attractive investment to a wider shareholder base and allow us to reach new levels of capacity and future growth."

Wireless Telecom --> http://lists.planetee.com/cgi-bin3/DM/y/eA0JtlqC0Gth0BMRG0AH WillTek --> http://lists.planetee.com/cgi-bin3/DM/y/eA0JtlqC0Gth0BJTS0AS

About the Author

Jack Browne | Technical Contributor

Jack Browne, Technical Contributor, has worked in technical publishing for over 30 years. He managed the content and production of three technical journals while at the American Institute of Physics, including Medical Physics and the Journal of Vacuum Science & Technology. He has been a Publisher and Editor for Penton Media, started the firm’s Wireless Symposium & Exhibition trade show in 1993, and currently serves as Technical Contributor for that company's Microwaves & RF magazine. Browne, who holds a BS in Mathematics from City College of New York and BA degrees in English and Philosophy from Fordham University, is a member of the IEEE.

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