Wireless telecom vendor Goodman Networks Inc has agreed to pay approx $116 million to acquire Multiband Corp, which completes nearly 20% of all of DirecTV’s installations, maintenance and upgrades for customers at single-family homes. Goodman’s paying a hefty premium of $3.25 per share, approx 26% above Multiband’s May 21 closing price.
The transaction is expected to close in Q3. Assuming the deal meets shareholder approval, Multiband would operate as a wholly-owned subsidiary of Goodman Networks and continue under Multiband CEO Jim Mandel.
Craig-Hallum Capital Group is acting as exclusive financial advisor to Multiband. Winthrop & Weinstine is acting as legal advisor to Multiband and its board. Jefferies and Credit Suisse served as Goodman Networks’ financial advisors, with Haynes and Boone as legal counsel.