Adding to its wireless networking offerings and customer base, WPCS International, of Exton, Pa., has acquired Walker Comm, of Fairfield, Conn., for about $5.47 million.
The purchase price includes $1 million in cash and 2.48 million shares of WPCS common stock.
“The acquisition of Walker Comm is a critical milestone for our company,” said Andrew Hidalgo, WPCS chairman and CEO. “It establishes WPCS as a national provider of wireless solutions and strengthens our project management expertise.”
Walker Comm designs, installs and tests services fiber-optics, data and voice cabling and wireless systems. It also offers network configuration services and data network audits.
Walker Comm’s customers include Cisco Systems, Stanford University and the State of California. WPCS believes the purchase will add about $10 million in annual revenues to its balance sheet.
The sale “expands our ability to provide structured cabling and wireless solutions on a national basis,” said Donald Walker, president of 5-year-old Walker Comm.
Following the close of the deal, he will remain in charge of Walker Comm, which will operate as a subsidiary of WPCS. Walker will also become an executive for WPCS. About 70 of the company’s employees will stay on post-acquisition.
The purchase comes during a time of expansion, both nationally and abroad, for WPCS. The company recently signed a deal with Sumatralink/Datalink, a Pacific Rim wireless solutions provider, to provide a wireless solution for
remote areas of Indonesia.