JSE-listed Alaris Holdings, which is a specialist developer on radio antennas, said on Tuesday that is has acquired US-based mWave Industries, which develops custom and commercial microwave antenna solutions.
mWave, which is based in Maine and which was founded in 2004, focuses on millimetre-wave reflector antennas in the 60, 70, 80, 94 and 110GHz bands and sells its products into both commercial and government clients spanning the scientific, defence and academic fields.
Centurion-based Alaris Holdings, which listed on the JSE’s AltX board in 2008, said it has received approval from US regulators to proceed with the acquisition, with the final closing requirements reached on 30 September.
In a statement to shareholders, and issued by the JSE on Tuesday, Alaris said it has resolved to provide financial
assistance for up to R14.5-million to Alaris Investment Holdings UK for to purchase 100% of the shares in Mwave Industries.
Alaris Holdings consists of Alaris Antennas (South Africa) and COJOT (Finland). “One of the main objectives for Alaris is to expand its footprint globally. The US market is the largest defence market in the world, representing approximately 60% of the global market,” it said in a statement. “The US administration has for the first time in a few years voted for and approved an increased defence budget to the amount of about US$716-billion for 2019.”
Alaris Antennas designs and manufactures specialised broadband antennas and other related radio-frequency products. Its products are used in communication, frequency spectrum monitoring, test and measurement, electronic warfare and other specialised markets. Clients are located across the globe, mostly outside of South Africa (the Americas, Europe and Asia). Its clients are system integrators, frequency spectrum regulators and players in the homeland security space, it said.
Roughly 90% of the company’s revenue is derived from exports.
mWave specializes in parabolic grids, solid parabolic and directional panel antennas as well as feeds including conscan and monopulse designs. mWave’s additional product offerings consist of micro-strip arrays, panels, horns, helices, sectors, omnidirectional antennas and waveguide arrays. mWave maintains an antenna test range that is used to verify new antenna designs and for production verification and third-party testing for its customers, Alaris said in the statement.
COJOT was founded in 1986 in Espoo, Finland. The company has 30 years of experience in the design, development and manufacture of antenna products, serving military and public safety markets globally.
Following the acquisition, mWave shareholder Peter Anania will serve on the Alaris Holdings board. Peter Farnum, MD of mWave Industries, will join the group’s management team. — © 2018 NewsCentral Media