Wow Was Aperto in financial trouble?
This is like YDI buying Proxim Or Ubiquity buying Motorola Sent from my Motorola Startac... On Mar 31, 2010, at 11:45 AM, "Drew Lentz" <d...@drewlentz.com> wrote: > Didn't see this one coming but it looks like it could lead to some > nice > products for WISPs. > > http://bit.ly/bX4HTc > > Canadian Company Tranzeo Wireless to Acquire Aperto Networks > Tranzeo strengthens its international market with complete broadband > solution > > PITT MEADOWS, BRITISH COLUMBIA, Mar 31, 2010 (MARKETWIRE via COMTEX) > -- > BC-based Tranzeo Wireless Technologies Inc. (CA:TZT > </investing/stock/TZT?countrycode=ca>  1.61, +0.04, +2.55%), a > premier > manufacturer of wireless broadband and WiMAX communication systems, > announced today it has entered into a definitive merger agreement with > Aperto Networks, Inc. ("Aperto") and key Aperto shareholders. Under > the > terms of the merger agreement, and upon the satisfaction of closing > conditions, Aperto will be merged into a newly incorporated > subsidiary of > Tranzeo, with Aperto surviving and continuing to be operated as a > wholly-owned subsidiary of Tranzeo. > > The merger will greatly increase Tranzeo's market share as it > becomes a > complete end-to-end broadband solutions provider featuring WiFi, > WiMax and > LTE products. Aperto's current backlog of all purchase orders is US > $8.3 > million. This will be added to Tranzeo's current backlog of US$32.7M. > > "Acquiring Aperto immediately transforms Tranzeo into a market leading > complete solutions provider for major telecommunications operators > while > still supplying product to Tranzeo's existing wireless Internet > service > providers," said Jim Tocher, President and CEO of Tranzeo. "With an > established world-wide customer base and a pipeline of new customers > now in > trials, the benefits of today's announcement will start to bear > fruit within > a year. The future for Tranzeo has never looked better." > > "The combining of Tranzeo and Aperto is a big win for wireless service > providers," said Randall Meals, Chairman of Aperto's Board and > Managing > Director of Quicksilver Ventures. "We continue to be bullish on the > broadband wireless market and now Tranzeo's position in the market." > > Existing Tranzeo and Aperto customers will greatly benefit from the > combined > technologies and complete solutions Tranzeo will now be able to > provide. > > "Tranzeo's responsiveness, world-class manufacturing and additional > product > breadth combined with Aperto's proven worldwide sales, support team, > and > channels will significantly benefit our customers on a global > basis,"said > Bill Waters, Senior Vice President of Worldwide Sales and Support at > Aperto > Networks. "I am looking forward to serving our existing customers, > expanding > our market and providing new solutions to our channel partners." > > "This is very good news for TRG and the future of broadband services > in > Indonesia," said Gatot Tetuko, President of PT. Teknologi Riset Global > (TRG), an affiliate company of leading telecommunication > infrastructure > provider the Indonesian Tower Group. "With our joint development > agreement > with Tranzeo, this will give us access to additional advanced wireless > technologies which we will incorporate into our broadband solutions." > > Tranzeo expects to complete the acquisition of Aperto through > issuances of > common shares to the stockholders of Aperto. Upon satisfaction of the > required closing conditions, Tranzeo will issue common shares to the > stockholders of Aperto based on a US$5 million base consideration > amount, as > adjusted for liabilities and cash of Aperto at closing. Subject to the > satisfaction of certain additional earn-out conditions, Tranzeo may > issue > additional common shares to the stockholders of Aperto based on > revenues > attributable to certain products of Aperto that are sold by Tranzeo > during a > one-year earn-out period following the date of closing of the > merger. These > earn-out shares would be issued within 120 days of the expiry of the > earn-out period. All share issuances will be based on the volume > weighted > average trading price of Tranzeo's common shares for the five > trading days > prior to this announcement of the Merger Agreement. > > The merger is anticipated to be completed in mid-April 2010. > Completion of > the merger will be subject to customary closing conditions, > including the > approval of the proposed merger by the Toronto Stock Exchange and by > the > stockholders of Aperto. Tranzeo stockholder approval is not required. > Tranzeo has agreed to appoint a representative of Aperto to its > board of > directors on closing. > > The common shares proposed to be issued have not been registered > under the > Securities Act of 1933, as amended, or any state securities laws, > and may > not be offered or sold in the United States without registration or an > applicable exemption from applicable registration requirements in > the US. > This press release shall not constitute an offer to sell or the > solicitation > of an offer to buy nor shall there be any sale of the securities in > any > jurisdiction in which such offer, solicitation or sale would be > unlawful. > > Tranzeo and the Tranzeo logo are registered trademarks of Tranzeo > Wireless > Technologies Inc. > > > > > --- > --- > --- > --- > -------------------------------------------------------------------- > WISPA Wants You! Join today! > http://signup.wispa.org/ > --- > --- > --- > --- > -------------------------------------------------------------------- > > WISPA Wireless List: wireless@wispa.org > > Subscribe/Unsubscribe: > http://lists.wispa.org/mailman/listinfo/wireless > > Archives: http://lists.wispa.org/pipermail/wireless/ -------------------------------------------------------------------------------- WISPA Wants You! Join today! http://signup.wispa.org/ -------------------------------------------------------------------------------- WISPA Wireless List: wireless@wispa.org Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/
