Tranzeo Wireless agrees to acquire Sensoria for cash and shares

Canadian Press
Published: Wednesday, January 24, 2007

PITT MEADOWS, B.C. (CP) - Tranzeo Wireless Technologies Inc. (TSX:TZT) has agreed to acquire the assets of San Diego, Calif.-based Sensoria Corp. and hire most of its employees for a combination of cash and shares, the B.C.-based company said Wednesday. Tranzeo shares rose 15 cents, or nearly six per cent, to $2.70 on the Toronto Stock Exchange following the announcement.

Tranzeo designs and makes high-speed wireless broadband communications systems, while Sensoria makes wireless mesh network equipment and network management software for voice, video and data.

"Sensoria's mesh networking technology will allow Tranzeo immediate sales traction into a number of wireless vertical markets and give us the opportunity to leverage current contacts Sensoria have made in government and military sector," Tranzeo president and CEO Jim Tocher said in a release.

The total value of the transaction will be less than five per cent of Tranzeo's current market capitalization and the cash component will include assumption of liabilities and cash payments valued at less than one-third of the share component, Tranzeo said.

The acquisition is expected to close on Jan. 31.
© The Canadian Press 2007
http://www.canada.com/topics/technology/news/gizmos/story.html?id=56500527-8a7f-4d57-90e3-55dcaf8f948c&k=28592

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