TESSCO Enters Into Definitive Merger Agreement
Summary
HUNT VALLEY, Md.--(BUSINESS WIRE)--TESSCO TECHNOLOGIES INCORPORATED (NASDAQ: TESS), (“Tessco” or the “Company”), today announced that the Company has entered into a definitive merger agreement with entities affiliated with Lee Equity Partners and Twin Point Capital, which also own Alliance Corporation (“Alliance”), a value-added distributor of equipment for the wireless industry, and GetWireless, LLC (“GetWireless”), a value-added distributor of cellular solutions that connect the Internet of Things (IoT). Moreover, our customers will benefit from a greater breadth of products and service options as we team with two companies that are true leaders in serving the wireless industry, and that share our commitment to innovation and customer service.” “We are excited about the prospects for partnering with Tessco, given its first-rate management team, technical competency, strong supplier relationships, and fantastic partnerships in the carrier and value-added reseller and integrator markets,” said Ron Moss, CEO of Alliance. “We look forward to continuing to serve the growing and increasingly complex needs of the wireless telecommunications industry and providing our customers with a comprehensive portfolio of the highest quality products and services.” William Blair & Company L.L.C. GetWireless enables mobile network operators, value-added resellers, integrators, and OEMs across a wide range of enterprise, industrial, government, and SMB applications. Before making any voting decision, shareholders of Tessco are urged to read all relevant documents filed with the SEC, including the proxy statement, when they become available because they will contain important information about the proposed merger.