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Technology Plano tech firm buys Multiband for $116 M

Plano tech firm buys Multiband for $116 M

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Goodman Networks Inc. of Plano will acquire Multiband Corp. of Minneapolis in an all-cash transaction valued at $116 million, the companies announced Wednesday. Goodman Networks is a privately held provider of wireless telecommunication networks, said it will acquire Multiband, a privately held provider of telecommunications networks, paying $3.25 per Multiband common share, redeem all of Multiband’s outstanding preferred stock and repay Multiband’s outstanding bank indebtedness in the all-cash transaction. The transaction, which is expected to close in the third quarter of 2013, is subject to the approval of Multiband’s shareholders, regulatory approvals and other customary closing conditions. Upon the close of the acquisition, Multiband will be operated as a wholly-owned subsidiary of Goodman Networks and Jim Mandel will continue as CEO of Multiband. Jefferies LLC and Credit Suisse served as Goodman Networks’ financial advisors and Haynes and Boone LLP served as Goodman Networks’ legal counsel on the transaction. Craig-Hallum Capital Group, LLC is acting as exclusive financial advisor to Multiband and provided a fairness opinion to the Multiband Board of Directors and a special committee of the board. Winthrop & Weinstine P.A. is acting as legal advisor to Multiband and its Board of Directors.  


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