Wireless Telecom Group to Acquire Holzworth

Wireless Telecom Group has signed a definitive agreement to acquire Holzworth Instrumentation.

Holzworth instruments are used by government labs, the semiconductor industry, and network equipment providers, among others, in research and automated test environments.

The initial purchase price for Holzworth is comprised of $8 million of cash payable at closing, $1.5 million in deferred cash payments, subject to minimum EBITDA (as defined in the acquisition agreement) thresholds, and $500,000 of Wireless Telecom Group common stock based on the 90-day volume weighted average share price of $1.44 per share. The shares will be subject to a 36-month lock-up provision.