Aviat Announces Acquisition Of NEC Corp.'s Wireless Transport Business

(RTTNews) - Aviat Networks, Inc. (AVNW) has entered into a definitive agreement with NEC Corporation (NEC) for the sale of its Wireless Transport Business to Aviat in an asset purchase deal valued at $70.0 million in cash and shares. The deal consideration is $45.0 million in cash and $25.0 million in Aviat stock. Aviat projects an additional $150 million in revenue which will be accretive to adjusted EBITDA, non-GAAP EPS, and free cash flow by the end of the first year.

Aviat expects the deal to close in the third calendar quarter of 2023. Aviat will appoint a board member designated by NEC to Aviat's board of directors.