CRNT - Ceragon Networks expands presence with Siklu buy

2023-10-24 06:31:00 ET

• Ceragon Networks ( NASDAQ: CRNT ) Tuesday said that it has entered into a definitive agreement to acquire Siklu, a provider of multi-Gigabit "wireless fiber" connectivity in urban, suburban and rural areas, for an enterprise value of $13-15 million.
• As consideration to Siklu's shareholders, Ceragon will issue approximately 1.5 million ordinary shares.
• Ceragon is expected to assume financial liabilities of approximately $10-12 million, of which approximately $2.5 million are classified as long-term debt.
• Ceragon is expected to generate approximately $25-$29 million in incremental 2024 revenue from this acquisition. Source: Press Release

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