DZS Inc. (NasdaqCM:DZSI) entered into a definitive agreement to acquire Core Assets of Adaptive Spectrum and Signal Alignment, Inc. on April 29, 2022. The transaction is an all-cash acquisition. As part of the deal, an experienced team of cloud and AI software engineers, architects and business leaders will join DZS's staff. The transaction is subject to ASSIA's shareholders approval and it is expected to close during Q2. The acquisition will be accretive to DZS adjusted gross margin, adjusted EBITDA margin and non-GAAP EPS.

DZS Inc. (NasdaqCM:DZSI) completed the acquisition of Core Assets of Adaptive Spectrum and Signal Alignment, Inc. for $26.4 million on May 27, 2022. DZS Inc borrowed the full amount of the Term Loan to finance the Adaptive Spectrum acquisition. The total purchase consideration was $25 million, including a $2.5 million holdback that will be released in 13 months following the transaction close date. In October 2022, the Company agreed to pay an additional $1.35 million of purchase consideration to settle certain unresolved matters related to the ASSIA acquisition. This additional purchase consideration will be reflected in subsequent financial statements of the Company.