| RuggedCom acquires WiNetworks |
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October 7, 2009 RuggedCom has purchased WiNetworks Ltd., a player in the development of systems based on WiMAX 802.16e mobile broadband wireless technology. WiNetworks’ technology is used by large private networks and service providers to extend mobile broadband connectivity over metropolitan areas, says RuggedCom. Its WiMAX products will form the new RuggedMAX product line and augment Ruggedcom’s growing RuggedWireless portfolio. “We created a RuggedWireless division earlier this year in order to capitalize on a huge market opportunity for wireless technology in our target markets” explains Marzio Pozzuoli, president and CEO of Ruggedcom. “WiMAX is the best technology available to extend private IP networks wirelessly in a standards-based way. The WiNetworks product line is ideally suited to mate with our industry-leading hardened networking products and drive automation further into the electric grid.” Under the terms of the share purchase agreement, RuggedCom will pay about $9 million US in cash to acquire all the shares of WiNetworks, plus assume WiNetworks’ debt of about $5 million US. RUGGEDCOM |
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