Santa Ana-based Powerwave Technologies Inc., a maker of amplifiers and other gear for wireless networks, revised terms of its buy of Britian’s Filtronic PLC to include more cash.
Powerwave now plans to pay $185 million in cash and 17.7 million in newly issued shares for Filtronic.
Before, Powerwave planned to pay $150 million in cash and 20.7 million newly issued shares.
Powerwave’s shares are off more than 20% since it announced plans to buy Filtronic in June.
The buy is expected to close by October. Directors at both companies have approved the revised terms.
The acquisition is set to expand Powerwave’s signal filtering, remote radio heads and power amplifier product lineups.
Powerwave expects to save $10 million a year in manufacturing, research and development, and other cost-cutting after the Filtronic unit is integrated.
The company said it should easily post more than $1.4 billion in sales in 2007 following the acquisition. Powerwave had $825 million in revenue last year.
