http://www.ydi.com/company/pressreleases/pr-20040630.php http://washingtontimes.com/upi-breaking/20040630-113116-8970r.htm
Falls Church, VA, Jun. 30 (UPI) -- YDI Wireless of Falls Church, Va., said Wednesday it has acquired Ricochet Networks of Denver, Colo. Under terms of the deal, YDI acquired privately-held Ricochet for $3 million in cash, 42,105 shares of its common stock and an unsecured note for $300,000 payable over three years. The cash came from YDI's working capital. The shares were issued to the Ricochet stockholder in a private placement. YDI is a developer and supplier of broadband wireless solutions. Ricochet Networks is a mobile wireless Internet service provider. YDI said Ricochet currently provides high-speed Internet access service in Denver and San Diego and has over 7,000 customers and over 170 square miles of mobile coverage. Robert Fitzgerald, chief executive officer of YDI, said, "With the purchase of Ricochet, YDI further expands the breadth of its product offering. We have been very impressed with the stability and quality of Ricochet's networks and feel that these offerings will be well received by YDI's service provider customers." ---- Frank Keeney http://www.wlanparts.com
