SUNNYVALE, Calif.-Endwave Corp. has acquired certain wireless infrastructure assets of Signal Technology Corp.’s Wireless Group, including customer contracts, equipment, inventory, product designs and other intellectual property and personnel needed to continue the business’ operations.
“The acquisition meets our previously stated strategic goals of complementing our existing business operation, diversifying our customer base, and being financially accretive,” said Ed Keible, chief executive officer and president of Endwave. “This combination will also extend Endwave’s leadership position in our segment of the wireless infrastructure market.”
Endwave will pay $3.4 million in cash for the assets, and the company said it is expecting the acquisition to result in revenues of $1.5 million to $2 million in fourth quarter 2002. Mark Hebeisen, vice president of technology and business development for Signal’s Wireless Group, will join Endwave to lead the newly acquired group as vice president and general manager for northeast operations.
