On Thursday, Mobix Labs, Inc. (MOBX) unveiled its decision to acquire RaGE Systems Inc., a leading provider of joint design and manufacturing services for radio frequency based in Massachusetts.
The deal, estimated to be worth around $2 million in cash and roughly $10 million in Mobix Labs stocks, also includes potential earn-out payments. These could amount to up to $8 million, split between cash and stock, distributed over eight fiscal quarters if specific financial goals are met.
The transaction is expected to be finalized by May 2024.
RaGE Systems has made a name for itself by developing products for 5G communications, mmWave imaging, and Software Defined Radio, providing for commercial, industrial, and defense & aerospace sectors.
Mobix Labs' CEO, Fabian Battaglia, believes that this acquisition will help expedite their development of innovative wireless communications and integrated circuit products. He noted that this would be especially beneficial in the rapidly progressing sector of mmWave 5G.
