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WiMAX Access and Backhaul |
Airspan
Acquires Radionet
Other Topics:
WiMAX Deployments,
ISO 17025 3G Testing
Airspan Networks, Inc.
November 9, 2005
Airspan Extends WiMAX/Wi-Fi Momentum to Worldwide Metrozone Offering
Boca Raton, FL -- 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.
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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. |
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