RF Industries Ltd., the San Diego makers and distributors of wireless cable assemblies, said it signed a non-binding term sheet to acquire Comnet Telecom Supply Inc., a New Jersey distributor of telecom and data products, for an undisclosed amount of cash and stock.
The proposed acquisition is subject to the negotiation and execution of a definitive purchase agreement, RFI said.
Comnet Telecom has a customer base and regional market that would complement RFI’s division Cable Unlimited’s current business and operations, said Howard Hill, RFI CEO.
Comnet Telecom had revenue of about $8 million in fiscal 2013, RFI said.
RFI did $36.6 million in revenue in 2013.