Airspan Acquires Radionet10 November 2005
Airspan Networks, Inc. (NASDAQ: AIRN) today
announced the acquisition of Radionet Oy, Ltd. of Finland in exchange for
up to $1.88 million of cash. Airspan today paid approximately $1.75
million, in return for which 99.72% of the outstanding common stock and
options of Radionet were tendered. Airspan will pay an additional $0.13
million if the outstanding balance of shares and options are tendered for
sale by November 24, 2005.
Airspan Networks is a leading provider of broadband wireless access
solutions for both licensed and unlicensed operators worldwide. A founding
member of the WiMAX Forum, Airspan has a broad portfolio of wireless access
products, including its recently announced AS.MAX product family that is
compliant with the IEEE 802.16-2004 standard (WiMAX) and upgradeable to the
802.16e version of the standard. The wireless product portfolio can also be
combined with Airspan's i-Tone softswitching platform, to deliver fully
integrated Voice over Internet Protocol (VoIP) services. Airspan has
deployed network equipment with a capacity exceeding 1 million lines in
more than 95 countries.
Established in 2000, Radionet is a leading provider of municipal wireless
Hotzones, community networks, mobile broadband solutions for industrial
applications, such as ports, mines and public transport, and link solutions
for wireless backhaul and enterprises. Radionet's environmentally robust
product portfolio, operating in unlicensed frequency bands using IEEE802.11
a/b/g Wi-Fi standards, delivers high performance connectivity with built-in
bandwidth management and advanced security features.
The Radionet product architecture includes network and subscriber
management capabilities and Radionet's patented "MageIP"™ technology
allows roaming within Hotzones, offering seamless mobility between access
points and subnets in a wireless network.
With its headquarters in Espoo, Finland, Radionet operates through a
network of certified distributors, value added resellers and systems
integrators in Europe, the Middle East and the Americas.
In a broadband metrozone environment, Airspan believes that a mixture of
WiMAX and Wi-Fi technologies will provide the most flexible combination of
access and backhaul for IP-based based voice and data services. By
acquiring Radionet, Airspan will be able to integrate its WiMAX and i-Tone
products with Radionet's Wi-Fi technologies in a mesh-like architecture
that will allow Airspan to offer such combined systems on a turnkey, fully
integrated basis, for both licensed and unlicensed frequency applications.
Additionally, Airspan intends to leverage its worldwide sales and
distribution network to address the significant growth in demand for
stand-alone Wi-Fi Hotzone networks with the Radionet technologies, and to
use those technologies as an extension of its wireless enterprise business
in such markets as ports, public transport systems and in the mining
sector.
"We are very pleased to be able to add the Radionet product portfolio to
our current range of products," said Eric Stonestrom, President and CEO of
Airspan. "The market for wireless broadband connectivity is expanding
rapidly, and a significant part of that growth is coming from agencies and
internet service providers seeking the deployment of 802.11-based Hotzone
networks. By adding Radionet's expertise and products, Airspan will have
the most advanced integrated set of products to meet this important growth
area."
Angela Champness, CEO of Radionet, added: "We are very excited about the
Airspan acquisition. Many of our customers have asked us for WiMAX
products to complement our Wi-Fi system -- which we can now offer.
Furthermore, Airspan has had many requests from its customers for a Wi-Fi
system as an extension to its networks. As one company, we are well
positioned to serve these customers and lead this fast-growing market."
About Radionet
Radionet is one of the leading providers of products and technology for
large-scale outdoor Wireless Hotzone networks. The company develops
solutions for citywide Wireless Hotzones and community networks, mobile
broadband solutions for industrial applications such as ports and mines,
and link solutions for wireless backhaul and building-to-building links.
Radionet operates in 24 countries in Europe, Middle East and Americas
through its network of certified distributors, value added resellers and
system integrators.
For information, please visit: http://www.Radionet.com/
About Airspan Networks Inc.
Airspan Networks provides fixed and wireless voice and data systems and
solutions, including Voice Over IP (VoIP). Its wireless products serve
operators around the world in both licensed and unlicensed frequency bands
between 700 MHz and 6 GHz, including both PCS and 3.5GHz international
bands. Airspan has a strong wireless product roadmap that includes
offerings compliant with the new WiMAX 802.16-2004 standard, and software
upgradeability to 802.16e from the time the WiMAX products are introduced.
Airspan is on the Board and a founder member of the WiMAX Forum. The
Company has deployments with more than 300 operators in more than 95
countries. Airspan's wireless systems are based on radio technology that
delivers excellent area coverage, high security and resistance to fading.
These systems can be deployed rapidly and cost effectively, providing an
attractive alternative to traditional wired communications networks.
Airspan's new iTone VoIP system is a carrier class, turnkey solution that
provides carriers with Class 4, Class 5 and IP-Centrex solutions and has a
Softswitch and Gateways supporting SIP/H323 and SIP. i-Tone's design
provides customers; carriers, next-generation telcos, cellular providers
and ITSP with a wide range of solutions with the best price/performance
system for IP telephony. Airspan also offers radio planning, network
installation, integration, training and support services to facilitate the
deployment and operation of its systems. Airspan is headquartered in Boca
Raton, Florida with its main operations center in Uxbridge, United Kingdom.
More information on Airspan can be found at http://www.airspan.com
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements, other than statements of
historical facts, including statements regarding our strategy, future
operations, financial position, future revenues, projected costs,
prospects, plans and objectives of management, may be deemed to be
forward-looking statements. The words "anticipates," "believes,"
"estimates," "expects," "intends," "may," "plans," "projects," "will,"
"would" and similar expressions or negative variations thereof are intended
to identify forward-looking statements, although not all forward-looking
statements contain these identifying words. We may not actually achieve
the plans, intentions or expectations disclosed in our forward-looking
statements and you should not place undue reliance on our forward-looking
statements. There are a number of important factors that could cause actual
results or events to differ materially from the plans, intentions and
expectations disclosed in the forward-looking statements we make. Investors
and others are therefore cautioned that a variety of factors, including
certain risks, may affect our business and cause actual results to differ
materially from those set forth in the forward-looking statements. These
risk factors include, without limitation, (i) a slowdown of expenditures by
communication service providers; (ii) increased competition from
alternative communication systems; (iii) the failure of our existing or
prospective customers to purchase products as projected; (iv) our inability
to successfully implement cost reduction or containment programs; (v) a
loss of any of our key customers; (vi) our ability to retain our single
largest existing customer; and (vii) specific to this press release,
Airspan's ability to successfully integrate the operations of Radionet and
its products into Airspan. The Company is also subject to the risks and
uncertainties described in its filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K/A for the year ended
December 31, 2004. You should read those factors as being applicable to
all related forward-looking statements wherever they appear in this press
release. We do not assume any obligation to update any forward-looking
statements.
For Media and Investment inquiries, contact:
Airspan Networks:
Peter Aronstam
Chief Financial Officer
Tel: +1 561 893-8682
Fax: +1 561 893-8671
Email: Email Contact
SOURCE: Airspan Networks, Inc
Source: Marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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