Semiconductor manufacturer Mobix Labs (Nasdaq: MOBX) has acquired RaGE Systems, a provider of radio frequency joint design and manufacturing services, as part of efforts to expand its portfolio of wireless communications offerings.
Mobix Labs said Tuesday that Massachusetts-based RaGE Systems brings expertise in producing software and hardware products for 5G communications and other electronic systems designed for commercial, industrial, defense and aerospace applications.
“We believe the acquisition will spur increased innovation, extend our customer base, broaden the markets we serve, and accelerate our ability to extend our industry-leading technology portfolio. This will increase the pace of developing additional next-generation wireless products for our customers,” remarked Fabian Battaglia, CEO of Mobix Labs.
Russell Cyr, CEO of RaGE Systems, said the company will build on Mobix Labs’ product portfolio to boost its existing offerings and expand its customer base.
“Completing the RaGE Systems transaction is another key milestone in our growth and again affirms the strength of our global acquisition strategy. We believe that this strategic acquisition will increase Mobix Labs’ revenue and earnings, while broadening our market presence,” said Keyvan Samini, president and chief financial officer of Mobix Labs.
Mobix Labs announced the transaction in early May, estimating that it would include a cash payment of about $2 million, approximately $10 million worth of its stock and possible earnout payments of up to $8 million covering eight fiscal quarters.
