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Alvarion Sells Carrier Licensed Division to Telrad Network
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Israel's troubled wireless vendor, Alvarion has announced the sale of its carrier licensed division to Telrad Network for US$6.1 million, plus future performance payments that could reach an additional US$6 million.
Alvarion and Telrad Networks have also agreed to sign a reseller agreement according to which Alvarion will continue to provide carrier licensed solutions to its partners and distributors and Telrad will provide Alvarion's unlicensed solutions to its carrier customers after the transaction is completed.
"We believe that Alvarion's broadband wireless access portfolio will become a significant building block in Telrad's future." said Ran Bukshpan, CEO, Telrad Networks.
Alvarion had delayed its financial results announcement pending the completion of this expected deal.
Consummation of the transaction is subject to certain closing conditions and is expected to occur during the second quarter of 2013.
Tags: [alvarion] [telrad network] [Israel]
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