Mergers and Acquistions News
Categories: Telecoms
December 23rd 2009, 16:57PM
Mobile broadband network infrastructure company Airvana has announced that it has entered into a definitive agreement to be acquired by affiliates of SAC Private Capital Partners in a transaction valued at approximately $530 million (£332 million).
Each share of Airvana common stock will be exchanged for $7.65 (£4.80) in cash, representing a premium of around 23 per cent over the closing share price on December 17th.
Completion of the merger deal is expected to take place by the end of the first quarter of 2010.
"As we transition to a private company, Airvana will continue to focus on its two major mobile broadband product lines, EV-DO software and femtocells," commented Randy Battat, president and chief executive officer of Airvana.
"Our customers should expect the same great products delivered by the same great team."
Airvana recently announced the delivery of the latest release of its EV-DO Rev A software, which allows operators to increase the capacity and performance of their mobile broadband networks.
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