AVNW - Aviat Networks to acquire Redline Communications

Aviat Networks (NASDAQ:AVNW) has entered into an agreement to acquire Canada's Redline Communications (OTCPK:RDLCF), a provider of mission-critical data infrastructure. The deal is valued at about C$16.2 million (about $12.9 million) from cash on hand. Avait intends to acquire all shares of Redline for C$0.90/share. "The acquisition expands Aviat's share in private networks by adding Redline's wireless network access capabilities in industrial PTP/PTMP and licensed Private LTE and 5G to Aviat's existing wireless transport backhaul solutions," says Aviat CEO Pete Smith. "Redline products will leverage Aviat's sales and marketing presence for broader reach. Likewise, Aviat will benefit from Redline's presence in the Oil & Gas, and Transportation verticals." It's expected to be immediately accretive to Aviat's gross margin, EBITDA, non-GAAP EPS and free cash flow. Aviat has set up a conference call to discuss the transaction for 8:30 a.m. Thursday. It expects to close the transaction within four months.

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Aviat Networks to acquire Redline Communications