© mailthepic dreamstime.com Components | May 14, 2019
AmpliTech Group to buy Specialty Microwave
AmpliTech Group (AMPG) has signed an agreement to acquire the business assets of Specialty Microwave Corp. (SMW), a privately held company based in nearby Ronkonkoma NY.
According to a press release, the purchase will include all business assets of SMW, including all inventory, orders, customers, fixed assets, intellectual property, and all eight team members, for a total consideration of USD 2,050,000, plus the value of SMW’s inventory on hand on the day prior to the closing. The transaction is expected to close by the end of July 2019. In business for more than 30 years, SMW is a maker of microwave components, subsystems and specialized electronics, services some of the same customers as AMPG. SMW operates in adjacent and upstream areas to AMPG and utilizes AMPG components in some of its sub systems. It is expected that the transaction will offer AMPG the opportunity to move up the value chain with its customers by offering expanded products and solutions at higher average transaction values and margins. The physical proximity of SMW to AMPG also allows a merger of the production/engineering teams to occur with limited disruption and cost to AMPG, and AMPG expects to relocate its operations to SMW’s facilities as soon as its current lease expires. AMPG CEO Fawad Maqbool said, “We have known and respected Stephen and the team at SMW since we began our business channel partnership several years ago and are excited at the prospect of combining our engineering talent, our IP, and our products to the benefit of our expanded customer base. In addition, the combination of our resources will allow us to release new products that our customers need, further driving the value proposition that we offer.” Both companies will be present at the International Microwave Symposium (IMS) in Boston, to be held June 2-7.
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