“We believe the benefits of a strengthened balance sheet and streamlined business model will drive improvements to our strategy for long-term profitable growth as we focus on our other higher-growth, higher-margin businesses.” After the transaction is completed, we will be debt free and have approximately $17.0 million in cash and cash equivalents,” said Tim Whelan, CEO of Wireless Telecom Group, Inc. “Today’s announcement accelerates Wireless Telecom Group’s transformation into a leading test and measurement, and specialized 5G software service solutions provider. The Company will file a proxy statement regarding the proposed transaction with the Security and Exchange Commission (the “SEC”) as described below. The transaction, which was unanimously approved by the board of directors of both companies, is subject to various terms and conditions, including approval by Wireless Telecom Group’s shareholders. (NASDAQ: RFIL) for an aggregate cash consideration of $24.25 million. (NYSE American: WTT) (the “Company”) today announced that it entered into a definitive agreement to sell its Microlab LLC radio frequency components business to RF Industries, Inc. 17, 2021 (GLOBE NEWSWIRE) - Wireless Telecom Group, Inc. Following the sale, Wireless Telecom Group plans to focus its business strategy on its high er -growth, high er -margin t est and m easurement and 5G product and software businesses
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