Powerwave to Acquire Filtronic’s Wireless Unit

Powerwave Technologies Inc. said it agreed to buy most of London-based Filtronic’s wireless infrastructure business for $335.9 million in cash and stock, adding transmitter and amplifier technology.

Santa Ana-based Powerwave will issue 20.7 million shares of common stock and pay $150 million to Filtronic.

The transaction is expected to close in the third quarter and start adding to Powerwave’s earnings the following quarter, the companies said.