© airgain Business | April 10, 2017

Airgain acquires Antenna Plus assets

Airgain, specialised in embedded antenna technologies, has entered into an asset purchase agreement with MCA Financial Group, Ltd. to acquire substantially all of the assets and certain liabilities of Antenna Plus.
A privately-held supplier of antenna solutions based in Scottsdale, Arizona, Antenna Plus develops antenna products for mobile and automotive fleet applications for government, public safety, and Industrial IoT (Internet of Things) markets.

The purchase and sale were made pursuant to a court order for the sale and disposition of the assets of Antenna Plus, for a cash purchase price of approximately USD 6.4 million on April 7, 2017. The acquisition is expected to close within 20 calendar days, subject to the satisfaction of customary closing conditions. Antenna Plus generated unaudited revenue of USD 7.5 million in 2016. Airgain expects the transaction to be accretive within 2017 and to improve its long-term revenue potential.

"With the large anticipated growth of IoT devices in automotive fleet, government, and industrial markets, we see an opportunity to build on our core strengths and expand our footprint beyond the embedded antenna category," said Charles Myers, President and Chief Executive Officer of Airgain. "Antenna Plus has spent close to 25 years building a solid business and reputation in its core markets of mobile and outdoor antenna systems, establishing themselves as quality and performance leaders. Through the acquisition of the Antenna Plus assets, we expect to accelerate our penetration into these new markets and create significant expansion opportunity for our addressable market."


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