Remec to Buy Spectrian for $160 Million

Remec Inc., a maker of wireless communications equipment, agreed to buy Spectrian Corp. for about $160 million in cash and stock to expand its offering of power amplifiers.

Remec said it will pay the equivalent of $14 a share for Sunnyvale, Calif.-based Spectrian, a 29% premium to its closing price of $10.85 on Friday.

News of the deal sent the shares surging $2.50, or 23%, to $13.35 on Nasdaq.

Remec said it will pay as much as $45 million in cash, with the balance to be covered by newly issued shares. Officials of the San Diego-based company couldn’t be reached immediately to comment.

Shares of Remec rose 29 cents to $8.42, also on Nasdaq.