Alvarion (ALVR) to Acquire Wavion in $30M Cash Deal
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Alvarion Ltd. (Nasdaq: ALVR), has signed a definitive agreement to acquire privately-held Wavion, an Israel-based technology leader in carrier-grade WiFi applications, for approximately $30 million in cash, including an assumed earn-out. Wavion’s revenues for the last twelve months were approximately $16 million.
Excluding non-recurring acquisition-related charges, Alvarion expects the acquisition to be accretive to non-GAAP earnings beginning in the second quarter of 2012.
Closing is expected before the end of 2011 and is subject to customary closing conditions. Alvarion will finance the acquisition with a $30 million 3-year credit facility from Silicon Valley Bank.
Excluding non-recurring acquisition-related charges, Alvarion expects the acquisition to be accretive to non-GAAP earnings beginning in the second quarter of 2012.
Closing is expected before the end of 2011 and is subject to customary closing conditions. Alvarion will finance the acquisition with a $30 million 3-year credit facility from Silicon Valley Bank.
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