Ceragon Networks Completes Acquisition of Siklu
ROSH HA'AIN, Israel, Dec. 5, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that it has completed the previously announced acquisition of Siklu, a provider of multi-Gigabit "wireless fiber" connectivity in urban, suburban and rural areas. The acquisition creates a more comprehensive, end-to-end offering ideally targeted to small service providers and private networks around the world. In particular, the combination gives Ceragon immediate access to Siklu's established leadership in the millimeter-wave market in North America including its Fixed Wireless Access offering.
- The acquisition creates a more comprehensive, end-to-end offering ideally targeted to small service providers and private networks around the world.
- We welcome the talented and experienced Siklu team to Ceragon, and integration initiatives are underway and progressing according to plan."
- The acquisition is expected to be accretive to the consolidated gross margins of Ceragon as Siklu's margins are at levels significantly higher than Ceragon's historical margins.
- Ceragon expects to include the Siklu acquisition in its 2024 guidance, to be provided, in combination with the release of Ceragon's fourth quarter results, in early 2024.