[SINGAPORE] CSE Global has acquired US-based SEI Wireless Solutions for US$8 million, it said in a bourse filing on Wednesday (Jul 22).
The deal was completed on Tuesday, with 80 per cent of the cash consideration paid to SEI.
“The remaining amount of the consideration shall be payable to (SEI) subject to any post-closing purchase price adjustments to be determined within 120 days from the completion date,” CSE Global said.
With the move, SEI will become an indirect wholly owned subsidiary of the group.
CSE Global also noted that “the acquisition is assumed to be funded fully by bank borrowings”.
The group has been engaged in radio and critical communications businesses in similar markets, and said it views the latest acquisition as “a strategic fit”.
It expects to expand its communications business in the infrastructure sector while strengthening its US presence.
Founded in 2009, SEI is a telecommunications solutions provider specialising in two-way radio systems, wireless communication infrastructure, and integrated safety and security technologies.
It focuses on mission-critical communications for commercial enterprises, large venues, events and public safety-adjacent environments.
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Shares of CSE Global ended Wednesday 3.8 per cent or S$0.05 lower at S$1.25, before the news.
