From Earlier: Blonder Tongue Buys R.L. Drake for $6.5M

Blonder Tongue Laboratories, Inc.

announced today that it has completed the acquisition of the business of R.L. Drake, LLC. Both companies operate in the supply of CATV and Satellite signal processing and distribution equipment. The acquisition was for the purchase of substantially all of the assets of R.L Drake for a purchase price of approximately $6.5 million, subject to certain adjustments based upon a post-closing audit of the balance sheet of R.L. Drake and additional contingent purchase price payments of up to $1.5 million in the aggregate that may be made over the next three years if certain financial results are realized. R.L. Drake's unaudited net sales for 2011 were approximately $10.0 million.