DZS (DZSI) just unveiled an update.
DZS Inc. has announced an agreement to acquire NetComm Wireless, an Australian broadband networking company, for $7 million, with potential additional payments up to $4.5 million based on performance milestones and pre-paid, undelivered products. This deal is subject to various conditions, including creditor approvals and reorganization steps by the seller under administration. DZS also plans to secure a $15 million term loan to support the acquisition, which may include issuing warrants for common stock. The acquisition aims to strengthen DZS’s position in 5G and IoT technology sectors.
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