M&A · Tech · Communications Equipment, NEC
Maury to acquire Wireless Telecom Group Inc
Announced May 25, 2023 · Closed Aug 4, 2023
Deal value$45MEV $26M
Premium34.0%To unaffected price
EV / Adj. EBITDA—1.3x EV / Revenue
ConsiderationAll cash$2.13 per share
Transaction
- Acquirer
- Maury
- Target
- Wireless Telecom Group Inc (WTT)
- Buyer type
- Strategic
- Offer price per share
- $2.13
- Enterprise value
- $26M
- Status
- Closed Aug 4, 2023
Deal protections
- Break fee (target pays)
- $0.9M · 2.0%
- Reverse fee (buyer pays)
- $1.9M · 4.1%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Not disclosed
Sector context · Tech
- Comparable deals
- 62 in the prior 24 months
- Premium
- 34.0% vs. 39.0% sector median
- EV / Adj. EBITDA
- Sector median 17.8x
- Break fee
- 2.0% vs. 3.0% sector median
Timeline
- AnnouncedMay 25, 2023
- Proxy filedJun 16, 2023
- Definitive proxyJun 28, 2023
- Shareholder voteAug 2, 2023
- ClosedAug 4, 2023
Valuation · fairness opinions
Discounted cash flow$1.49$1.74
Trading comparables$1.45$2.36
Trading comparables$1.10$1.94
Precedent transactions$1.18$1.53
Precedent transactions$1.78$1.84
Offer $2.13
Implied value per Wireless Telecom Group Inc share by analysis · DCF discount rate 14.5%–16.5%.