SANTA ANA, Calif.-Powerwave Technologies Inc. and LGP Allgon Holding AB will combine their businesses in a strategic transaction under which Powerwave will acquire all outstanding shares of LGP Allgon’s common stock. The transaction is valued at approximately $407 million.
“The combination of Powerwave and LGP Allgon will extend our leadership in wireless infrastructure across key products and solutions, including coverage and capacity solutions and key base station subsystems,” said Bruce Edwards, president and chief executive officer of Powerwave. “Combining our complementary geographical strengths and customer relationships will lead to numerous cross-selling opportunities for the combined company’s products on a global basis.”
The merger follows Powerwave’s announcement last week that it signed a multi-year master purchasing agreement with Sprint PCS under which the carrier will buy Powerwave’s 1900 MHz CDMA multi-carrier RF power amplifiers, including its booster products.
