Maury Microwave, a leading provider of RF calibration, measurement, emulation and modeling solutions backed by Artemis Capital Partners ("Artemis"), has completed its previously announced acquisition of Wireless Telecom Group for ~$45.6 Million.
Since its founding in 1985, Wireless Telecom Group's test and measurement businesses – comprising of Boonton, Holzworth, and Noisecom - have served as trusted technology solutions partners to many of the world's leading manufacturers in the wireless technology chain. Across aerospace, defense, satellite communications, semiconductor, quantum and directed energy applications, the group's technology portfolio enables its customers to push the boundary of 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. The group'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. The group 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, "The finalization of this transaction represents a significant step forward in our strategic plan. The combination of Maury and the Boonton, Holzworth, and Noisecom businesses enables us to provide even more comprehensive solutions and superior service to our customers. We are excited to welcome our talented new team members 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."
Daniel Monopoli, the group's General Manager stated, "We are all excited to collaborate with the Maury team to usher in the Company's next phase of growth and look forward to developing a complementary technology portfolio that provides even greater value to our customers, suppliers, and employees."
The merger officially closed on August 4, 2023. Under the terms of the merger agreement, Maury acquired all the outstanding shares of the Company for cash consideration of $2.13 per share, and WTT’s shares are now no longer be listed on any public exchange.
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