Baylin announces acquisition of Alga Microwave
(28 June 2018 - Baylin Technologies) Baylin Technologies today announced that it has entered into a share purchase agreement to acquire all of the issued and outstanding shares of Alga Microwave for total consideration of $27 million, consisting of up-front cash consideration of $21 million, $4 million in Baylin shares and $2 million in deferred consideration, as well as a related agreement to purchase Alga’s operational facilities in Kirkland, Quebec.
“The addition of Alga is synergistic with our recent acquisition of Advantech, helping us to further expand our rapidly growing radio frequency and microwave components business. Alga’s new state-of-the-art facility, situated closely to Advantech, will set the stage for a robust platform for future growth” said Randy Dewey, Baylin’s President and CEO. “We look forward to working with the team at Alga to incorporate their top-of-the-line products into Baylin’s broad offering to provide the best experience for our customers” said Mr. Dewey.
“As a market leader in radio frequency and microwave, we are a natural fit in helping Baylin achieve its vision of becoming the frontrunner in data transmission. We are very excited to be able to bring our deep sector expertise and best-in-class product development capabilities to Baylin to help drive growth and profitability in the satellite connectivity segment. Alga will be able to leverage Baylin’s world-class sales force and relationships with tier-one customers to expand the reach of our products” said Michael Perelshtein, Alga’s CEO.
“This acquisition is a key strategic move that is expected to benefit both operations in a significant way. Alga’s modern factory and precision machining capability will allow us to control more of the supply chain and provide for rapid product development. Additionally, Alga brings extensive high frequency passive microwave component capability expanding our addressable markets. Bringing together both Advantech’s broad portfolio, sales and marketing channels along with Alga’s manufacturing efficiencies, products and passive capabilities will allow us to address a wider more diversified market and provide our customers with broader networking solutions.” says John Restivo, President, Advantech.
Baylin is a diversified leading global wireless technology management company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio frequency products and services. Baylin aspires to meet customers’ needs and anticipate the direction of the market