Tranzeo Wireless agrees to acquire Sensoria for cash and shares
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
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