Irvine-based chip startup Mobix Labs, Inc. (Nasdaq: MOBX) said it has agreed to acquire RaGE Systems Inc., a wireless tech company based in Massachusetts. The price total is up to $20 million, Mobix said.
“With this acquisition, Mobix Labs will decrease the time necessary to develop cutting-edge wireless communications and integrated circuit products for its customers, particularly in the fast-growing mmWave 5G sector,” said Fabian Battaglia, CEO of Mobix Labs, in a statement yesterday announcing the purchase.
The closing is expected this month.
Shares in Mobix Labs closed up 3.5% at $2.96 per share for a market cap of $76.4 million.
For further details, see the May 20 print edition.
