TEL AVIV, Israel-Nexus Telecommunication Systems Ltd. announced the acquisition of Aptel Ltd., a developer of wireless technologies and products, owned mainly by DSP Group Inc.
Nexus purchased 100 percent of Aptel shares from the current shareholders for a total of 925,000 Nexus shares.
The closing of the transaction is expected to take place in November, Nexus said.
Both companies will maintain their current deployment and commercialization efforts, but will begin an integration process intended to best utilize the operational, technological and marketing resources of both firms.
Nexus President and Chief Executive Officer Amnon Shefi said the inclusion of the Aptel operation initially will result in higher research and development expenditures, but he expects the investment to pay off once Aptel products reach the marketplace.
“The similarity of the target markets and the resemblance in the technological foundation of the two companies constitutes a high degree of synergism which makes this mature development the natural transaction,” said Yaron Sheinman, chairman of the Nexus board of directors.
