Mobix Labs finalizes the acquisition of RaGE Systems

– Management believes this acquisition will be incremental, increasing revenues and profits while accelerating product development and innovation

IRVINE, California, May 21, 2024–(BUSINESS WIRE)–Mobix Labs, Inc. (Nasdaq: MOBX) (“Mobix Labs” or the “Company”), a fabless semiconductor company developing breakthrough connectivity solutions from wired to next-generation wireless solutions, announced that it has completed the acquisition of RaGE Systems, Inc. (“RaGE Systems”), a leader in RF 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 breakthrough technology, solid customer service, and cost-effective manufacturing and testing capabilities, contributing to its continued growth.

“We are excited to continue working with the RaGE Systems team to develop breakthrough wireless communication systems and integrated circuits. We believe this acquisition will drive increased innovation, expand our customer base, expand the markets we serve and accelerate our ability to expand our industry-leading technology portfolio. This will accelerate the development of additional next-generation wireless products for our customers,” said Fabian Battaglia, CEO of Mobix Labs.

Russell Cyr, CEO of RaGE Systems, commented: “The acquisition by Mobix Labs is a key step in our growth and support of all our customers. The Mobix Labs management team and its Board of Directors provide a mature, world-class leadership team that RaGE Systems can rely on in our future endeavors. We look forward to expanding our existing customers and products and leveraging our intellectual property and technology across the entire Mobix Labs product line portfolio.

The story continues

“The completion of the RaGE Systems transaction is another key milestone in our development and once again confirms the strength of our global acquisition strategy. We believe this strategic acquisition will increase Mobix Labs’ revenues and profits while expanding our market presence,” said Keyvan Samini, President and CFO of Mobix Labs.

About Mobix Labs, Inc.

Headquartered in Irvine, California, Mobix Labs is a fabless semiconductor company that provides mmWave 5G and C-Band wireless solutions and provides connectivity and filtering products for next-generation communications systems supporting 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. More information about the company can be found by visiting mobixlabs.com or following us on X @MobixLabsInc and LinkedIn.

About RaGE Systems, Inc.

RaGE Systems, Inc. is RF-JDM focusing on high-value and mid-range electronics for various industries. The Massachusetts-based company specializes in the design, development, manufacturing and automated testing of RFICs, RFIC modules and subsystems. RaGE Systems has developed hardware, RFIC, 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 smart munitions, and advanced hardware and firmware for specialized receivers. More information can be found on their website RaGEsystems.com 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 United States Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements regarding the pursuit of additional opportunities in the future, the expected benefits of the acquisition of RaGE Systems, including the impact this may have on product innovation, customer base development and market presence, and the impact of the RaGE acquisition on Mobix Labs’ operations, including revenues and earnings per share, 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 Mobix Labs’ ability to supply parts or develop technology in connection with the systems provided by RaGE Systems to its customers; the risk that the parties will not be able to achieve the expected strategic, financial and other benefits resulting from the acquisition, including the realization of expected synergies, in the expected time frames or at all, and the risk that the business integration will not be successfully implemented or that integration may be more difficult, more time-consuming or expensive than expected. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “goal”, “goal”, “estimate”, “intend”, “plan”, ” believe”, “potentially”, “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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