Ceragon Networks Completes Acquisition Of Siklu, Expects Acquisition Will Increase Its 2024 Revenue By About $25M-$29M
Portfolio Pulse from Benzinga Newsdesk
Ceragon Networks Ltd. (NASDAQ:CRNT) has completed the acquisition of Siklu, which is expected to increase Ceragon's 2024 revenue by $25M-$29M. The acquisition enhances Ceragon's end-to-end 5G offerings and gives it a stronger position in the millimeter-wave market in North America. The deal is anticipated to be accretive to Ceragon's gross margins and non-GAAP earnings by the second half of 2024, due to Siklu's higher margins and expected synergies. Ceragon has also expanded its total loan credit facility by $5 million to $77 million, with Siklu's primary lender joining Ceragon's lending consortium.
December 05, 2023 | 12:06 pm
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Ceragon Networks' acquisition of Siklu is expected to increase its 2024 revenue by $25M-$29M and improve gross margins and non-GAAP earnings by the second half of 2024.
The acquisition of Siklu is directly related to Ceragon Networks and is expected to have a positive financial impact on the company's revenue and margins. The news is likely to be viewed favorably by investors, as it suggests growth and improved profitability. The confidence level is high due to the specific financial projections provided by the company.
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