Author: Christine Thropp|| Date Published: October 1, 2024
Mobix Labs (Nasdaq: MOBX) has offered to acquire EMCORE (Nasdaq: EMKR), a provider of inertial sensors and systems for land, sea, air and space applications in the aerospace and defense market.
The Irvine, California-headquartered fabless semiconductor company said Monday its all cash proposed offer is $3.80 per share, representing a more than 200 percent premium over the current stock price of EMCORE as of Sept. 27.
The acquisition is aimed at scaling the operations and cash flow of Mobix, and at boosting its competitive strength in the aerospace and defense sector.
“Our recent strategic acquisitions, including EMI Solutions and RaGE Systems, have significantly strengthened our position in the military, defense, and high-reliability electronics sector,” said Fabian Battaglia, CEO of Mobix Labs. “We believe integrating EMCORE’s products would further accelerate our growth and innovation in critical markets.”
The offer is subject to the approval of the board of directors of EMCORE, the execution of a definitive agreement between the two companies and any shareholder approval required by law.
In August, Mobix announced its intent to acquire electromagnetic interference technology provider J-Mark Connectors in an effort to boost revenue and grow its military aerospace footprint.
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