MONTREAL-Mitec Telecom Inc. said it has closed its acquisition of the assets of Broadband Wireless L.L.C. for $1.2 million.
Broadband Wireless specializes in amplifiers.
“This is a strategically important acquisition in terms of growth opportunities for our wireless business,” said Rajiv Pancholy, president and chief executive officer of Mitec.
The companies said the purchase price consisted of half cash, half Mitec common shares and “is based on a 1x revenue evaluation.”
