RF Industries acquires Microlab from Wireless Telecom Group for $24.25M cash

R F INDUSTRIES LTD

Purchase price $24.25M; financed with cash on hand and credit facility.
Microlab generated ~$16M revenue and ~$3.7M EBITDA in 12 months ending 9/30/2021.
Deal unanimously approved by both boards; closing expected in Q1 2022 subject to WTT shareholder vote.
RFIL expects the acquisition to be immediately accretive with meaningful operating synergies.
Seller (WTT) to pay $900K termination fee if it accepts a superior proposal.

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