Wave and WaveRider in broadband merger
North American broadband companies WaveRider and Wave Wireless announced a merger Wednesday that will facilitate the launch of new products.
The merger folds the Wave Wireless mesh networking products in with WaveRider's family of last-mile fixed and mobile 900 megahertz wireless products.
Operations in the United States and Canada will be merged with WaveRider being incorporated into a wholly owned Wave Wireless subsidiary.
Officials from both companies said the deal would position the new company to sell and distribute a "broad suite of wireless broadband solutions."
Under the terms of the agreement, WaveRider securities holders will exchange their interest for Wireless Wave stock. The ownership will be split 50-50 between the two companies.
Copyright 2006 by United Press International