US microwave networking solutions company Aviat Networks (Nasdaq: AVNW) has acquired 5% of Israeli network equipment vendor Ceragon Networks (Nasdaq: CRNT) and is seeking control of the company. Ceragon's share price is up 17.70% in premarket trading at $2.46, after the share price closed down 5.43% yesterday at $2.09, giving a market cap of $175.5 million. RELATED ARTICLES Ceragon jumps 56% as ARK increases stake Ceragon expanding network for India's Bharti Airtel Aviat is offering $2.80 per Ceragon share. Aviat also wants to convene a shareholders meeting to change the composition of Ceragon's board of directors. Ceragon is led by CEO Doron Arazi, who replaced veteran CEO Ira Palti last year. The company has developed innovative, flexible and cost-effective wireless backhaul and fronthaul solutions that enable mobile operators to deliver broadband services to their customers. Published by Globes, Israel business news - en.globes.co.il - on June 28, 2022. © Copyright of Globes Publisher Itonut (1983) Ltd., 2022.