Author: Jane Edwards|| Date Published: May 10, 2024
Mobix Labs has agreed to buy RaGE Systems in a transaction that will expand its capabilities to produce wireless communications systems.
Rage Systems is a Massachusetts-based radio frequency joint design manufacturer focused on developing products for 5G communications, software-defined radio and mmWave imaging used by customers across defense and aerospace, industrial, and commercial sectors, Mobix Labs said Thursday.
“RaGE Systems’ expertise will greatly enhance Mobix Labs’ capabilities in designing and manufacturing advanced RF and mmWave integrated circuits and systems across several markets,” said Fabian Battaglia, CEO of Mobix Labs.
“With this acquisition, Mobix Labs will decrease the time necessary to develop cutting-edge wireless communications and integrated circuit products for its customers, particularly in the fast-growing mmWave 5G sector,” added Battaglia.
Keyvan Samini, president and CFO of Mobix Labs, said the transaction marks a key step in Mobix’s global expansion strategy and will enable the company to expand its market presence and increase its revenue and earnings per share.
The transaction, which is expected to conclude in May, includes a cash payment of about $2 million, Mobix Labs stock worth approximately $10 million and possible earnout payments of up to $8 million covering eight fiscal quarters.
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