Andrew to acquire EMS Wireless
Westchester, Ill.-based Andrew Corp. announced it has agreed to acquire EMS Wireless, a Norcross, Ga.-based division of EMS Technologies Inc., for about $50.5 million in cash.
EMS Wireless develops and manufactures of base station antennas and repeaters for cellular networks in North America. Its customers include the major wireless operators in the U.S.
EMS Wireless had revenues of $28.5 million for the first half of 2006. It employs approximately 200 people in Norcross, Ga., and Curitiba, Brazil. The transaction is expected to close within 30 to 60 days and be slightly accretive to earnings in fiscal 2007, according to Andrew, which also said it expects to achieve $5 million to $10 million annually in synergies and reduced corporate spending beginning in fiscal 2007.
“EMS Wireless and its employees have a successful track record in innovation and customer responsiveness, and their addition to Andrew will deliver compelling strategic and financial benefits,” said John DeSana, group president, Antenna and Cable Products Segment, Andrew Corp., in a statement.
Paul Domorski, president and chief executive officer, EMS Technologies, added, “...the industry is consolidating rapidly and greater scale is very important. We believe EMS Wireless and its dedicated employees will have a better future as part of a larger organization, such as Andrew, that is less affected by swings in sales of particular products and has a wider array of products to offer to wireless carriers.”
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