Baylin Technologies Announces the Sale of its Mobile and Network Business

Toronto, Canada, July 9, 2024 -- Baylin Technologies Inc. (TSX: BYL)  announced that it has entered into an agreement to sell the company's Mobile and Network business unit to a strategic acquiror from Korea for purchase consideration that includes substantially all liabilities of the business. Subject to receipt of regulatory and other approvals and satisfaction of other closing matters, the company expects to complete the transaction in the third quarter.

The Mobile and Network business designs and manufactures antennas for use in wireless communications products, principally for use in mobile phones but also in personal computers, tablets, Internet of Things and other wirelessly connected devices. In May 2023, the company announced it was evaluating its options for the business, including whether it should remain part of the Company's core long-term strategy. Later, the Company conducted its own sales process and retained an investment banker to supplement the Company's efforts.

"We are very pleased with the outcome of the process, concluding with an agreement to sell our Mobile and Network business," said Leighton Carroll, Chief Executive Officer of the Company. Simplifying our business model will allow us to focus on our remaining core businesses: Embedded, Infrastructure, and Satellite Communications, which continue to demonstrate strong results and growth.

Baylin is a diversified global wireless technology company. Baylin focuses on the research, design, development, manufacture and sale of passive and active radio-frequency products, satellite communications products, and supporting services. Baylin aspires to exceed its customers' needs and anticipate the direction of the market. For further information, please visit www.baylintech.com.