AVNW - Aviant Networks to buy wireless transport business from NEC for $70M
2023-05-09 03:46:23 ET
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IT and network technologies integration provider, NEC to sell wireless transport business to Aviat Networks ( NASDAQ: AVNW ) in an asset purchase transaction valued at $70M in cash and shares.
- Aviat expects the deal to close in Q3 2023.
- The deal consideration is $45M in cash and $25.M in Aviat stock.
- Aviat expects to fully fund the cash portion of the acquisition from committed debt financing.
- Aviat will appoint a board member designated by NEC to Aviat's board of directors, helping to ensure the success of the transaction.
For further details see:
Aviant Networks to buy wireless transport business from NEC for $70M