AVNW - Aviat Networks to will acquire Redline Communications for $12.9M

Aviat Networks (NASDAQ:AVNW) said Wednesday it will acquire Redline Communications (OTCPK:RDLCF) for C$0.90/share (~$0.71/share), in an all-cash deal valued at ~C$16.2M (~$12.9M). AVNW will fund the acquisition with cash on hand. The transaction is expected to close within 4 months. The acquisition expands AVNW's private networks offering with private LTE/5G, unlicensed wireless access solutions. The deal is expected to be accretive to gross margin, adj. EBITDA, adj. EPS and free cash flow in the first year. "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," said AVNW CEO Pete Smith.

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Aviat Networks to will acquire Redline Communications for $12.9M