ONTARIO, Calif., May 25, 2023 -- Maury Microwave, Inc. ("Maury" or the "Company"), a leading provider of RF calibration, measurement, emulation and modeling solutions backed by Artemis Capital Partners ("Artemis"), announced today that it entered into a definitive agreement to acquire Wireless Telecom Group, Inc. (NYSE American: WTT) in a transaction that is expected to close in the third quarter of 2023, subject to the approval of Wireless Telecom Group Shareholders and the satisfaction of other customary closing conditions.
Since its founding in 1985, Wireless Telecom Group, Inc. ("WTT")'s test and measurement business – comprised of Boonton, Holzworth, and Noisecom - has served as a trusted technology solutions partner to many of the world's leading manufacturers in the wireless technology chain. Across aerospace, defense, satellite communications, semiconductor, quantum and directed energy applications, WTT's technology portfolio enables its customers to push the boundary of radio frequency ("RF") and microwave technology.
The Boonton, Holzworth and Noisecom brands expand Maury's test and measurement technology portfolio into high performance phase noise analysis, RF synthesis, signal generation, noise generation and RF power measurement. WTT's customer base and technologies complement and strengthen Maury's heritage in mission-critical defense and satellite communications programs of record as well as increased access to high growth applications including radar, electronic warfare, quantum computing, and directed energy systems. WTT will continue to operate from its headquarters in New Jersey as a division of Maury and continue to be led by its current general manager, Daniel Monopoli and his senior leadership team.
Bill Pezza, Executive Chairman of the Board at Maury Microwave, said, "This proposed transaction represents a significant step forward in our strategic plan. The combination of Maury and WTT, including its prominent test and measurement divisions Boonton, Holzworth, and Noisecom, will enable us to provide even more comprehensive solutions and superior service to our customers. We are excited to welcome the talented team from WTT to the Maury organization and look forward to a future of innovative growth together."
Michael Howo, CEO at Maury Microwave, expressed his enthusiasm for the deal, "We have long appreciated the leadership position of the Boonton, Holzworth and Noisecom brands, high-performance solutions and long-term customer relationships and we have always been interested in finding market opportunities where we could partner. We look forward to contributing additional engineering and sales resources and technical value to the Company's core capabilities and help drive the next phase of growth."
Morgan, Lewis & Bockius LLP is serving as legal counsel to Maury Microwave. CDX Advisors is serving as exclusive financial advisor and Bryan Cave Leighton Paisner is serving as legal counsel to Wireless Telecom Group.
About Maury Microwave Corporation:
Headquartered in Ontario, CA, Maury Microwave, Inc. designs and manufactures state-of-the-art RF measurement and interconnect solutions that enable the world's wireless communication technologies and networks to get better, faster, and stronger.
For more information, please visit https://www.maurymw.com/
About Wireless Telecom Group, Inc.:
Wireless Telecom Group, Inc. is a global designer and manufacturer of advanced RF and microwave communication technology. Comprised of three primary divisions: Boonton, Holzworth, and Noisecom, the Group delivers comprehensive solutions for a diverse set of markets including aerospace, defense, telecommunications, medical, semiconductor, and beyond. Boonton is recognized worldwide as a provider of high-performance electronic test equipment, pioneering the latest tools and techniques for testing, measuring, and analyzing complex electronic signals. Holzworth Instrumentation is a global provider of phase noise analysis and frequency generation systems, driving advancements in high-performance test and measurement solutions. Noisecom is a pioneer in the development of noise generation for RF and microwave signals, creating innovative solutions for a broad range of testing requirements.
For more information, please visit https://wirelesstelecomgroup.com/
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SOURCE Maury Microwave, Inc.