Mobix Labs announces the strategic acquisition of RaGE Systems

–Acquisition to immediately increase Mobix Labs revenues and profits

– Synergy will accelerate groundbreaking progress in wireless communications

IRVINE, California, May 9, 2024–(BUSINESS WIRE)–Mobix Labs, Inc. (Nasdaq: MOBX), a fabless semiconductor company known for innovative connectivity solutions, today announced that it has signed a definitive agreement to acquire RaGE Systems Inc., an industry leader in radio common frequency design and manufacturing services based in Massachusetts.

RaGE Systems specializes in developing 5G communications, mmWave imaging and software-defined radio products for the commercial, industrial, defense and aerospace sectors. The RaGE Systems team is recognized for its groundbreaking technology and solid customer service, which contributes to its continued growth.

“RaGE Systems’ experience will significantly enhance Mobix Labs’ capabilities in designing and manufacturing advanced RF and mmWave integrated circuits and systems in several markets. With this acquisition, Mobix Labs will reduce the time needed to develop cutting-edge wireless communications products and chips for its customers, especially in the rapidly growing mmWave 5G sector,” said Fabian Battaglia, CEO of Mobix Labs.

“This acquisition will immediately add revenue and earnings per share to Mobix Labs. The acquisition of RaGE is a significant step in our global expansion strategy,” commented Keyvan Samini, President and CFO of Mobix Labs. “This highlights our team’s ability to grow effectively and rapidly, both organically and through strategic acquisitions, enabling Mobix to rapidly expand its presence in the market.”

“We are excited to become part of the innovative Mobix Labs product family. Combining our teams will create significant synergies, increasing the value we deliver to our customers,” said Russell Cyr, co-founder and CEO of RaGE Systems.

Mobix Labs is expected to complete the acquisition of RaGE in May 2024.

transaction details

The total consideration included approximately $2 million in cash, approximately $10 million worth of Mobix Labs stock and possible payments of up to $8 million over eight fiscal quarters in a total of cash and stock upon meeting certain financial metrics.

About Mobix Labs, Inc.

Mobix Labs, based in Irvine, California, is a fabless semiconductor company providing mmWave wireless solutions and connectivity and filtering products for next-generation communications systems serving the aerospace, military and high-reliability markets. The company’s True Xero Active Optical Cables are designed to meet customer needs for high-quality active optical cable solutions at an affordable price. The Company’s electromagnetic filtering products acquired as part of the acquisition of EMI Solutions, Inc. (“EMI”), are used in military and aerospace applications. These technologies are intended for large and rapidly growing markets where there is a growing demand for more efficient communication and filtering systems, using an increasing range of wireless and connectivity technologies. For more information about the company, please visit or follow us on X @MobixLabsInc and LinkedIn.

About RaGE Systems, Inc.

RaGE Systems, Inc. is a manufacturer of radio frequency connector designs focused on high-value electronics for a variety of industries, including the commercial, industrial, defense and aerospace sectors. The Massachusetts-based company specializes in the design, development, manufacturing and automated testing of radio frequency integrated circuits, modules and subsystems. RaGE Systems has developed hardware, radio frequency ICs, embedded firmware and software for 2/3/4/5G RFFE and O-RAN systems, software defined radio, MMW imaging and threat detection, sensor fusion and artificial intelligence, microminiature electronics for intelligent ammunition and advanced hardware and firmware for specialized receivers. More information can be found on their website or you can follow them on LinkedIn.

Forward-looking statements

This press release contains forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements regarding the pursuit of additional opportunities in the future, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statements, such as the ability of Mobix Labs to complete the acquisition of RaGE in accordance with the terms of the Business Merger Agreement entered into between the parties concern the supply of parts or the development of technology in connection with the systems provided by RaGE Systems to its customers. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “goal”, “target”, “estimate”, “intend”, “plan”, ” believe”, “potential”, “continue”, “is/are likely to do so” or other similar expressions. All information contained in this press release is current as of the date of this press release, and Mobix Labs has no obligation to update such information, except as required by applicable law.

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