SAN DIEGO-Remec Inc. said it signed a definitive agreement to sell its Outdoor Unit and Transceiver business to Wireless Holdings International Inc. through a management buyout transaction.
The business unit, which is headquartered in Poway, Calif., designs and manufactures high-frequency point-to-point outdoor radios and transceivers. The deal is valued at $15 million, which is payable in cash, and is expected to close in August.
Wireless Holdings is made up of Dave Newman, vice president and general manager of the ODU business, and Domingo Bonifacio, president of Remec Manufacturing Philippines Inc.
In March, Powerwave Technologies Inc. said it would acquire certain product lines from Remec’s Wireless Systems business. The purchase included RF conditioning products, filters, tower-mounted amplifiers and RF power amplifiers.
