RF Industries Ltd., the San Diego maker and distributor of cable assemblies used by wireless carriers, said it completed the acquisition of Comnet Telecom Supply Inc. of New Jersey for $4.15 million.
The stock and cash purchase consisted of about $3.05 million in cash and 252,281 shares of RFI’s common stock valued at $1.06 million, RFI said.
Privately-owned Comnet Telecom had annual revenue of $9.6 million for the 12-month period ended Oct. 31, 2014.
CEO Howard Hill said Comnet’s growing sales will be accretive to RFI’s profits and cash flow after one-time expenses related to the integration of the business.
Comnet makes and distributes equipment and cabling products used by telecom carriers, co-location center operators and other telecom and data center companies. It’s based in East Brunswick, N.J.