The Bottom Line: Microwave Techniques, Needham Bank and Provident Bancorp Merger, Connection

A roundup of news updates from public companies in NH and nationwide

MICROWAVE TECHNIQUES ACQUIRES SYMPHONY MICROWAVE TECHNOLOGIES

Microwave Techniques, a Nashua-based manufacturer of high-power microwave components and RF solutions, has successfully acquired Symphony Microwave Technologies, a design and manufacturing group specializing in high-power components and systems for industrial, medical, military, scientific and commercial applications.

The acquisition creates an advanced manufacturer of high-power microwave technology and RF component solutions, with over 145 employees across facilities in Gorham, Maine; Nashua, NH; and Hamburg, Germany.

Terms of the transaction were not disclosed. “Bringing these organizations together is a strategic step that we believe aligns complementary strengths, improves resource optimization, and advances our collective ability to serve global industries with high-performance devices and equipment,” said Jim Detert, CEO at Microwave Techniques.

The combined entity will sustain uninterrupted manufacturing for its range of existing products, including circulators, isolators, windows, loads, couplers, generators, systems and more.

“Now, we are well positioned to develop the next generation of devices and equipment, optimizing component and system performance, and continuing to drive the innovation customers in the industry have come to expect,” said Mark Fitzgerald, CEO at Symphony Microwave Technologies.

NB BANCORP, INC. AND PROVIDENT BANCORP, INC. CLOSE MERGER

NB Bancorp, Inc. (NASDAQ: NBBK), the holding company for Needham Bank, and Provident Bancorp, Inc. (NASDAQ: PVBC), the holding company for BankProv, announced that all conditions for their merger agreement have been satisfied and steps to complete the merger are underway.

The conversion of BankProv products and services to Needham Bank’s products and services took place beginning on November 15, 2025.

Needham has appointed Joseph B. Reilly to become a director of Needham and Needham Bank.

“We are honored to have such an influential member of the New England banking community join our board,” said Joe Campanelli, president and CEO of Needham. “Joe’s leadership and vast experience will be an incredible asset for Needham Bank in the Northern Massachusetts and Southern New Hampshire markets.”

Provident common stock was delisted from the NASDAQ Global Select Market in connection with the merger following the close of trading on November 14, 2025, the last day on which Provident common stock traded.

CONNECTION NAMED ONE OF AMERICA’S DREAM EMPLOYERS

Connection (NASDAQ: CNXN) — an IT solutions provider to business, government, health care, and education markets — has been recognized by Forbes as one of America’s Dream Employers.

Connection was ranked 81 on the list of 500 recipients, selected based on an independent survey of college students as well as employees working for organizations with at least 1,000 employees.

The final score is based on how frequently Connection was named as a “dream employer” and the respondents’ overall willingness to recommend their workplace.

Tim McGrath, president and CEO of Connection, said, “Creating a work environment where employees feel empowered is essential to our success. This accolade speaks volumes about our employees and the supportive culture and engaging work environment we’ve built together, grounded in shared values of integrity, respect and teamwork. We will continue to invest in our workforce, empower innovation, and set the standard for excellence in our industry.”

Since 1982, Connection has continued to introduce numerous initiatives aimed at developing a positive work environment and enhancing employee satisfaction—including a wide range of employee benefits, such as: flexible work arrangements, health and wellness programs, financial well-being, professional development and mentoring, life and family support, employee resource groups and community outreach programs.