Aviat Networks Announces Intent To Acquire Redline Communications
04/13/22, 9:01 PM
Location
austinIndustry
wireless
natural resources
manufacturing
hardware
Aviat Networks, Inc. ("Aviat") (Nasdaq: AVNW)) , the leading expert in wireless transport solutions, and Redline Communications Group, Inc. ("Redline") (TSX: RDL), a leading provider in mission-critical data infrastructure, announced today that they have entered into an arrangement agreement (the "Arrangement Agreement") under which Aviat will acquire all outstanding shares of Redline for CAD$0.90 per common share (approximately USD$0.71 per share), in an all-cash transaction (the "Transaction") valued at approximately CAD $16.2 million (approximately USD$12.9 million). Aviat expects to fully fund the acquisition from cash on hand. Subject to customary closing conditions and necessary regulatory approvals, the transaction is expected to close within four months.
Company Info
Location
Austin, Texas, United States
Company info
Aviat Networks, Inc. (NASDAQ: AVNW) works to provide dependable wireless transport products, services and support to our customers, building the foundation for an LTE and 5G broadband future. With more than one million systems sold into 170 countries worldwide, communications service providers and private network operators including state/local government, utility, federal government and defense organizations trust Aviat with their critical applications. Coupled with a long history of microwave innovations, Aviat provides a comprehensive suite of localized professional and support services enabling customers to drastically simplify both their networks and their lives. For more than 70 years, the experts at Aviat have delivered high performance products, simplified operations, and the best overall customer experience. Aviat Networks is headquartered in Austin, Texas.
