ConnectM Technology Solutions (CNTM) said Monday it acquired wireless communication product developer, MHz Invensys, in an all-stock deal in exchange for MHz's assets, consisting mainly of intellectual property.
MHz founders Kiran Kumar and Mahesh Oni will stay on as ConnectM employees, the company said.
ConnectM said it expects to generate an additional $15 million of revenue from the advanced metering infrastructure vertical alone over the next three years.
Price: 1.19, Change: -0.02, Percent Change: -1.65
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.