Thursday, January 22, 2015

RF Industries Buys Comnet Telecom Supply

San Diego-based RF Industries said Wednesday that it has completed the acquisition of New Jersey-based Comnet Telecom Supply. The deal was worth $4.15M, and was split between $3.0M in cash and the remainder in stock, and also includes another $1.36M in potential earnout. RF Industries said that Comnet, which supplies telecommunications and data products, had revenues of approximately $9.6M for the twelve months ended October 31, 2014. Comnet Telecom Supply was owned by Robert Portera, who has joined RF Industries. RF Industries said the acquisition will expand the company's fiber optic cabling capabilities.