Micom to Pay $25 Million for Virginia Communications Firm

Simi Valley-based Micom Systems reported that it has agreed to acquire Spectrum Digital Corp. by merging a newly formed subsidiary with Spectrum.

Micom reported that it will pay about $25 million in cash and shares of its common stock and assume Spectrum’s outstanding warrants. The agreement calls for Micom to provide an interim line of credit of up to $3 million to Spectrum.

Spectrum, based in Virginia, designs and manufactures high-speed communications equipment.