Airspan Extends WiMAX and Wi-Fi Momentum to Worldwide Metrozone Offering
BOCA RATON, FL -/November 10, 2005 - Wi-Fi Technology News/- Airspan Networks, Inc. (NASDAQ: AIRN) announced the acquisition of Radionet Oy, Ltd. of Finland in exchange for up to $1.88 million of cash. Airspan 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"(TM) 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
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