CSE Global Announces 2 New Acquisition in Wireless Radio Communications

Tapping on funds raised from a recent rights issue, CSE Global is acquiring two US-based radio communications businesses for US$11 million – its second acquisition of a similar nature in less than three months.

The acquisition consists of Radio One Inc and Communications Service Co of Daytona. The seller is the Kurt D. Macdonald and Karen S. Macdonald Revocable Trust.

These two companies provide radio communications solutions, Federal Communications Commission licensing assistance, servicing and two-way radio rentals to enterprise and government customers.

Just last November, CSE Global paid NZ$25 million to buy a group of wireless communications businesses.

Based on the unaudited consolidated financial statements, the two US entities acquired have a combined net tangible asset value of US$3.4 million and report earnings of around US$3.5 million and operating profit of US$3.7 million for the year ended Dec 31 2022.