Santa Ana-based Powerwave Technologies Inc., a maker of amplifiers for wireless networks, is paying $118 million in stock and cash for products and plants from Del Mar-based Remec Inc.
Powerwave plans to buy Remec’s radio frequency conditioning products, filters and amplifiers. The deal also includes Remec’s factories in Costa Rica, China and the Philippines.
In 2003, Powerwave closed a Santa Ana plant and moved production to plants in Asia.
The move comes about a month after Powerwave said it plans to buy Canada’s Kaval Wireless Technologies Inc. for $10.8 million in cash and debt.
Remec, which last fall delayed releasing financial results, sold its defense and space unit to Chelton Microwave Corp., part of Britian’s Chelton Ltd., for for $260 million earlier this year.
Company executives called the product and plants sales to Powerwave part of an ongoing review of strategic alternatives. Remec shareholders are set to own about 7% of Powerwave after the deal, which is expected to close in the third quarter.
