ONTARIO,
Calif., May 25, 2023 /PRNewswire/ -- 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.