Mobix Labs’ Enhanced Acquisition Bid for Peraso: A Strategic Hybrid Deal to Fuel AI-Driven Enterprise Growth

The recent escalation of Mobix Labs’ acquisition bid for Peraso Inc. marks a pivotal moment in the semiconductor and AI-driven enterprise software sectors. By shifting from an all-stock proposal to a hybrid cash-and-stock deal, Mobix has crafted a structure that balances immediate shareholder value with long-term growth potential. This move not only addresses Peraso’s liquidity needs but also aligns the combined entity with the surging demand for high-bandwidth, low-latency solutions in AI applications.

A Hybrid Structure for Shareholder Value

Mobix’s revised offer introduces a cash component to its initial all-stock proposal, providing Peraso shareholders with immediate liquidity while retaining exposure to the combined company’s future growth. According to a report by Investing.com, the hybrid deal aims to deliver a 20% premium to Peraso’s 30-day average share price, a significant step toward addressing the company’s Nasdaq listing compliance challenges [1]. This structure mitigates the risks associated with holding a volatile stock, particularly for Peraso, which has faced market capitalization hurdles [2].

The inclusion of cash is a strategic pivot. While the exact percentages of cash and stock in the deal remain undisclosed, the hybrid approach signals Mobix’s commitment to securing shareholder approval. By offering a mix of immediate value and equity participation, Mobix caters to both risk-averse and growth-oriented investors. This dual-layered value proposition is critical in a market where AI-driven enterprise software is projected to grow at a compound annual growth rate (CAGR) of 31% through 2035 [3].

Strategic Synergies: mmWave and AI Convergence

Peraso’s 5G/mmWave technology is a cornerstone of this acquisition’s strategic rationale. The company’s 60 GHz solutions enable symmetrical data rates of up to 3 Gbps, a critical enabler for AI applications requiring real-time data processing, such as autonomous systems, drone surveillance, and immersive virtual reality [4]. As stated by Peraso’s CEO in a NASDAQ interview, the integration of mmWave into AI infrastructure is not just a trend but a necessity for next-generation edge computing [5].

Mobix’s defense and aerospace platforms stand to benefit immensely from Peraso’s battlefield-tested mmWave IP. The combined entity could unlock cross-selling opportunities across Mobix’s existing customer base in AI datacenters and 5G infrastructure. For instance, Peraso’s recent $1.5 million in Q1 2025 mmWave revenue—surpassing its entire 2024 performance—demonstrates the scalability of its technology [6]. Analysts at BusinessWire project that the merger could generate over $20 million in annual revenue, driven by synergies in production, procurement, and sales [7].

Market Tailwinds and AI-Driven Growth

The AI-driven enterprise software market is accelerating, fueled by U.S. policy initiatives like the CHIPS Act and BEAD Act, which incentivize semiconductor innovation and rural broadband expansion [8]. Peraso’s expansion into the EdTech sector with 60 GHz wireless video distribution systems further underscores its strategic positioning at the intersection of education, defense, and infrastructure [9].

The mmWave 5G market itself is forecasted to grow at a CAGR of 14.1% through 2029, reaching $6.66 billion in revenue [10]. This growth is underpinned by the increasing adoption of private LTE/5G networks in industrial settings, where reliability and security are paramount [11]. Peraso’s DUNE platform for Fixed Wireless Access (FWA) is poised to capitalize on this trend, addressing connectivity gaps in dense urban environments [12].

Risks and the Path Forward

Despite the compelling case, risks remain. Peraso’s board has yet to engage with Mobix, and the September 8, 2025, deadline looms as a critical juncture. If negotiations stall, Mobix may bypass the board and approach shareholders directly—a move that could escalate tensions but also accelerate the deal’s completion [13]. Additionally, the lack of disclosed cash percentages in the hybrid deal leaves room for uncertainty, though the 20% premium suggests a robust valuation framework [14].

For investors, the key takeaway is clear: Mobix’s hybrid structure is a calculated move to align Peraso’s cutting-edge mmWave capabilities with the AI-driven enterprise software boom. The combined entity’s potential to dominate high-growth verticals—defense, EdTech, and edge AI—positions it as a formidable player in a $152 billion 5G enterprise market by 2035 [15].

Source:

[1] Peraso stock soars after Mobix Labs adds cash to acquisition offer, [https://www.investing.com/news/stock-market-news/peraso-stock-soars-after-mobix-labs-adds-cash-to-acquisition-offer-93CH-4226897]
[2] Mobix Labs Launches Unsolicited Bid to Acquire Peraso in 20% Premium Deal to Shareholders—Accelerating Revenue Growth and Market Expansion, [https://www.businesswire.com/news/home/20250626376376/en/Mobix-Labs-Launches-Unsolicited-Bid-to-Acquire-Peraso-in-20-Premium-Deal-to-ShareholdersAccelerating-Revenue-Growth-and-Market-Expansion]
[3] The Private LTE & 5G Network Ecosystem 2024-2030, [https://www.researchandmarkets.com/reports/4850170/the-private-lte-and-5g-network-ecosystem-2024?srsltid=AfmBOoqPTGz5gXatQW9pcBjJgy-VQgQXHdQLZRJoU9bOlR9vAUltdf3S]
[4] Peraso CEO Discusses the Future of mmWave on 'The Street ...', [https://www.nasdaq.com/press-release/peraso-ceo-discusses-future-mmwave-street-reports-podcast-2025-03-05]
[5] Peraso Inc. (NASDAQ: PRSO) Military, NATO, EdTech, CHIPS ..., [https://www.openpr.com/news/4150747/peraso-nasdaq-prso-military-nato-edtech-chips-bead]
[6] Peraso Announces First Quarter 2025 Results - PRSO, [https://www.stocktitan.net/news/PRSO/peraso-announces-first-quarter-2025-iclgdikn5ayu.html]
[7] Mobix Labs Launches Unsolicited Bid to Acquire Peraso in 20... [https://investors.mobixlabs.com/news-releases/news-release-details/mobix-labs-launches-unsolicited-bid-acquire-peraso-20-premium/]
[8] Peraso (NASDAQ: PRSO) Military, NATO, EdTech, CHIPS ..., [https://www.openpr.com/news/4150747/peraso-nasdaq-prso-military-nato-edtech-chips-bead]
[9] Peraso (NASDAQ: PRSO) The Future of mmWave ... [https://www.openpr.com/news/4114879/peraso-nasdaq-prso-the-future-of-mmwave-technology-as]
[10] MmWave 5G Market Report 2025, [https://www.researchandmarkets.com/reports/5783062/mmwave-5g-market-report?srsltid=AfmBOorHxy1zfwCUgDz4LqP-LXWHmPLQqju9Rmzcj1sydZDvrggOCtgg]
[11] Private LTE & 5G Ecosystem, [https://www.snstelecom.com/private-lte]
[12] Global 5G Fixed Wireless Access Market 2024-2031, [https://www.giiresearch.com/report/omr1518790-global-5g-fixed-wireless-access-market.html]
[13] Mobix Labs Enhances Peraso Acquisition Offer with Cash ... [https://www.stocktitan.net/news/MOBX/mobix-labs-sweetens-offer-to-acquire-peraso-with-cash-and-stock-deal-zikgkdgyuc2s.html]
[14] Mobix Labs Launches Unsolicited Bid to Acquire Peraso in 20... [https://finance.yahoo.com/news/mobix-labs-launches-unsolicited-bid-111000920.html]
[15] 5G Enterprise Market | Global Market Analysis Report - 2035, [https://www.futuremarketinsights.com/reports/5g-enterprise-market]