Deal to be Immediately Accretive, Transaction Opens New Markets in Military, Defense and Space
Irvine, CA (GLOBE NEWSWIRE) - Mobix Labs Inc., a global connectivity solutions provider for wireless mmWave 5G and wired high bandwidth cable networks, today announced it has signed a definitive agreement to acquire Advanced Interconnect Technologies (AIT), a St. Cloud, Minnesota-based manufacturer and product development firm serving the military, defense, and commercial air and space industries. Terms were not disclosed.
“We are very excited about adding Advanced Interconnect Technologies to our growing company,” said Fabian Battaglia, CEO of Mobix Labs. “Bringing AIT into the Mobix Labs portfolio as part of our acquisition strategy allows us to offer manufacturing and design services to existing global customers, and also opens new doors to deliver our wireless and connectivity products to even more clients in the defense, air and space industries.”
AIT is ISO9001 certified and provides fully automated precision manufacturing, assembly, product development and turnkey design services for highly sophisticated interconnects and components, as well as offers process validation, process control, and on-board probing for in-line measurements.
“We are experiencing huge demand for our services and will be able to scale much quicker with the backing of Mobix Labs,” said Jason Smith, founder at AIT. “We built AIT based on our leadership’s history in highly automated manufacturing processes. Joining Mobix Labs combines the resources of two innovative, tech-driven companies to grow a larger customer base.”
“Another piece of the puzzle around Mobix Labs’ growth strategy has been put into place with the acquisition of AIT,” said Keyvan Samini, chief financial and corporate development officer at Mobix Labs. “With great synergies, the transaction is expected to be immediately accretive and provides additional cash flow, while further enhancing our combined valuation and ability to grow revenue.”
About Mobix Labs
Founded in 2020, Mobix Labs Inc. provides True Xero™ latency connectivity solutions for 5G wireless and high bandwidth cable networks. The company develops ultra-compact, fully integrated, single-chip, single-die, CMOS-based mmWave beamformers, antenna solutions and RF/mixed signal semiconductors necessary for mmWave 5G and next-generation wireless products. The company also develops hybrid active optical cables, transceivers and optical engines for the data center, home entertainment and consumer electronics markets. Based in Irvine, Calif., Mobix Labs also has offices in San Jose, Phoenix and Shanghai. More information on the company can be found by visiting http://www.mobixlabs.com or by following on Twitter @MobixLabsInc and LinkedIn.
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