A California company has completed its $5.6 million deal to buy Cables Unlimited Inc., a privately owned Yaphank fiber-optic cable maker.
The buyer, RF Industries Ltd., on Wednesday paid $2.8 million in cash and 762,738 common shares of RF Industries stock.
Cables Unlimited last year had income of $645,000 on revenues of about $6.2 million. It makes coaxial and other forms of cable, as well as wire harnesses, for a variety of industries including aerospace, medical, appliance, automotive and computer.
The transaction was reported earlier this month by RF Industries Ltd., of San Diego, publicly traded on the Nasdaq as RFIL. The buyer said it “has entered into a definitive agreement” to buy Cables Unlimited, which it said had a profit of about $645,000 on $6.2 million revenues in 2010.