DZS Inc. completed the acquisition of Core Assets of Adaptive Spectrum and Signal Alignment, Inc. for $26.4 million.
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.