Region: US      Europe   Asia   India   Australia
You are not logged in    Login
IDS Packaging
The Information Resource for the Packaging Industry!
Browse Packaging Products and Suppliers By Category
Browse Packaging Whitepapers By Sector
Browse Packaging Events By Category
Participation Options
Free Listing
Interested in Exhibiting
SubmitEvents
IDS Packaging
Submit News
Packaging Newsletter
Press ReleaseClick Here to view Press Releases
PCTEL Completes Sale of Mobility Solutions Group to Smith Micro
News Source
Welt Online
January 07, 2008
Click HereView Participation Packages
Click Here
Submit News

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 MaxradTM 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 SeeGullTM scanning receivers, receiver-based products and CLARIFYTM 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.

Other News
On the Drawing Board: Printed Battery Powers Labels, RFID Tags
New Developments Discussed at Active RFID, RTLS & Sensor Networks 2008
DAILY RFID Introduces SD Interface RFID Reader for PDA and Smartphones
DAILY RFID Unveils 13.56MHz SD Interface Handheld RFID Reader
Handheld RFID Reader DL8033 in 13.56MHz Supports Multi Data Transfers
Featured Whitepaper
Leveraging Coding Technology to Cut Cost While Boosting Effi...
Recent technological advances have resulted in improved methods for coding, marking, and identifying...

                     Read more
 

Industry IDS, Inc
Foodservice & Packaging Institute, Inc The Adhesive and Sealant Council Women in Packaging
DELEGATES
40385
Conference Sectors  Case Studies  List of Papers  Exhibition Sectors  Vendor Presentation  List of Exhibitors  Industry News  Sponsors  All Exhibitors  All Papers  Sitemap  Registration Links ]

 :: IDS Emergency Management :: IDS Water ::IDS Publishing / Media::IDS Healthcare Management::IDS Environment::IDS Plastics::IDS Power/Energy:: 

Industry IDS, Inc. – Online Tradeshow, Exhibition, & Buyers Guide Solutions