Chip startup Mobix Labs Inc. (Nasdaq: MOBX) in Irvine said it had completed the acquisition of RaGE Systems Inc., a wireless tech company based in Massachusetts. The price will reach up to $20 million.
“We believe the acquisition will spur increased innovation, extend our customer base, broaden the markets we serve, and accelerate our ability to extend our industry-leading technology portfolio. This will increase the pace of developing additional next-generation wireless products for our customers,” Fabian Battaglia, CEO of Mobix Labs, said in a statement today.
The total price consists of about $2 million in cash, approximately $10 million worth of Mobix Labs stock and possible earn-out payments of up to $8 million over eight fiscal quarters in a combination of cash and stock upon satisfaction of certain financial metrics, Mobix Labs said earlier this month in announcing the acquisition.
