Under the revised agreement, which now takes the form of a stock purchase agreement, Multiband will now acquire 80% of the issued and outstanding shares of common stock of all DirecTECH Holding Company (DTHC) operating subsidiaries (except for Michigan Microtech, a Michigan corporation (MMT) of which Multiband previously purchased 51% of the MMT stock and of which Multiband would now purchase an additional 29% of the MMT stock), for $33.9 million.

The closing on the 80% portion of the acquisition is expected to occur on or about January 1, 2009, and the closing on the balance of the acquisition is anticipated to occur on or before December 31, 2009.

The consideration for the acquisition will include a $1 million payment at closing and the issuance of a four-year $32.9 million Note, which has an interest rate of 8.25% per annum. Multiband shall purchase the remaining 20% of the issued and outstanding shares of common stock of all DTHC operating subsidiaries by December 31, 2009, subject to obtaining Multiband shareholder approval.

James Mandel, CEO of Multiband, said: “The acquisition of a majority interest in MMT has played an important role in our financial results and we believe that the acquisition of the balance of DTHC’s operating businesses will further improve Multiband’s financial performance without issuing equity in the initial closing to DTHC.”