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PCTEL Completes Sale of Mobility Solutions Group to Smith Micro
Publish Date : 1/8/2008 7:10:00 AM Source : Mobile and Gadgets News Onlypunjab.com
PCTEL, Inc. (NASDAQ: PCTI), a leading provider of wireless solutions, announced today that it had completed the sale of its Mobility Solutions Group (MSG) to Smith Micro Software, Inc. (NASDAQ: SMSI). A definitive agreement covering this transaction was announced on December 10, 2007. Smith Micro has acquired all of the assets of MSG and will take over PCTEL’s office space in Chicago. Smith Micro paid $59.7 million in cash. PCTEL will retain its accounts receivable at the time of close. PCTEL will realize over $42 million after taxes from the transaction. PCTEL’s headquarters will move to its Bloomingdale facility that currently houses its antenna operation.
“PCTEL’s focus on our wireless assets, and in particular our opportunities for growth in the mobile broadband sector, will serve us well,” said Marty Singer, PCTEL’s Chairman and CEO. “We are excited about our prospects in the rapidly growing WiMAX, network timing markets, our legacy private network products, and our network optimization business,” added Singer.
PCTEL acquired the software business for $1.5 million in June, 2002.
About PCTEL
PCTEL, Inc. (Nasdaq:PCTI), is a global leader in propagation and optimization solutions for the wireless industry. The company designs and develops software-based radios for wireless network optimization and develops and distributes innovative antenna solutions. PCTEL’s Maxrad™ antenna solutions address public safety applications, unlicensed and licensed wireless broadband, fleet management, and network timing. Its portfolio includes a broad range of antennas for WiMAX, Land Mobile Radio, GPS, telemetry, RFID, WiFi, indoor cellular, and mesh networks. The company’s SeeGull™ scanning receivers, receiver-based products and CLARIFY™ interference management solutions are used to measure, monitor and optimize cellular networks. PCTEL’s products are sold worldwide through direct and indirect channels. For more information, please visit the company’s web site at: http://www.pctel.com
PCTEL Safe Harbor Statement
Statements in this press release regarding the divestiture of its Mobility Solutions Group ("MSG"), and PCTEL’s prospects in WiMAX, network timing markets, legacy private networks products and network optimization business, are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and actual results may differ materially from those projected as a result of certain risks and uncertainties, including, PCTEL's ability to successfully grow its antenna and RF solutions businesses, and other risks and uncertainties detailed in PCTEL's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and PCTEL disclaims any obligation to update or revise the information contained in any forward-looking statement, whether as a result of new information, future events or otherwise. |
Reliance to sell phone cards through post offices
Publish Date : 1/28/2005 12:31:00 PM
Reliance Infocomm, the telecom services arm of corporate behemoth Reliance Industries, Thursday said it had entered into an agreement with the department of posts ....
Mobile Productivity Inc. Acquires AIS/IDENTIFIX
Publish Date : 1/25/2005 10:51:00 AM
Mobile Productivity Inc. (MPi), a premier automotive repair information and service merchandising provider, announced today the acquisition of Automotive Information System ....
CSK Auto Corporation Announces Sale of Automotive Information Systems
Publish Date : 1/25/2005 10:34:00 AM
CSK Auto Corporation (NYSE:CAO) announced today that on January 21, 2005, CSK Auto, Inc. (CSK) sold all of the issued and outstanding capital stock of Automotive ...
T-Mobile UK Selects MyNetonomy for its Corporate Customers
Publish Date : 1/24/2005 11:07:00 AM
Netonomy, the leading provider of customer self-service solutions for communications service providers, today announced that T-Mobile, one of the world's leading ....
Stan Lee Goes Wireless Around The World With Vidiator
Publish Date : 1/19/2005 11:02:00 AM
He's amazing, uncanny, incredible and now he's also wireless.
Samsung Electronics Says High-bandwidth 512Mb Memory Will Enable 3D Graphics in Smaller Mobile Phones
Publish Date : 1/19/2005 10:16:00 AM
Samsung Electronics Co., Ltd., the world leader in advanced memory technology, today announced that it has completed the world's first working prototype of a 512Mb mobile ...
Motorola Signs Technology Agreement with E Mobile's CHL
Publish Date : 1/12/2005 1:04:00 PM
E Mobile Information Technologies (Pink Sheets:EMTK) wholly owned subsidiary, CHL Technologies, has signed an agreement with global communications leader Motorola ....
Motient Announces Signing of Term Sheet to Purchase Additional Interests in Mobile Satellite Ventures
Publish Date : 1/12/2005 11:17:00 AM
Motient Corporation (Pink Sheets:MNCP) announced today that on January 10, 2005, it signed a binding term sheet with Telcom Satellite Ventures, pursuant to which ....
Tata Indicom launches mobile service in Punjab, Haryana, HP
Publish Date : 1/6/2005 12:42:00 PM
Tata Indicom on Wednesday launched its
mobile telephone services in Punjab, Haryana, Himachal Pradesh
and the Union Territory of Chandigarh at an investment of Rs 600
crore in phase one.
Wherify Honored with Two Prestigious 2005 CES Innovations Awards for GPS Locator Phone
Publish Date : 1/5/2005 10:01:00 AM
Wherify Wireless, Inc., a leading developer of wireless location products and services, today announced that it was been honored by the Consumer Electronics Association....
Total Results : 28 More News (Opens in New Window) : [1] 2 3 Next Page
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