20/09/2014 15:28:39 Free Membership Login

DragonWave Closes Acquisition of Nokia Siemens Networks' Microwave Transport Business in China

Date : 11/30/2012 @ 6:58PM
Source : Marketwired
Stock : Dragonwave Inc. (DWI)
Quote : 1.4  0.01 (0.72%) @ 2:08AM
Dragonwave Inc. share price Chart

DragonWave Closes Acquisition of Nokia Siemens Networks' Microwave Transport Business in China

Dragonwave Inc. (TSX:DWI)
Historical Stock Chart

2 Years : From Sep 2012 to Sep 2014

Click Here for more Dragonwave Inc. Charts.


DragonWave Inc. (TSX:DWI)(NASDAQ:DRWI) a leading global supplier of packet microwave radio systems for mobile and access networks, today announced that the company has completed the transaction to acquire certain Chinese operations of Nokia Siemens Networks' microwave transport business in China as all Chinese regulatory requirements have been met.

Approximately 100 employees of Nokia Siemens Networks based in Shanghai have transferred to DragonWave. "We want to welcome our new colleagues in China to the DragonWave team" said Peter Allen, DragonWave President and CEO. As previously communicated, the overall closing of the transaction took place on June 1, 2012.

About DragonWave

DragonWave® is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave's carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave's products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave's corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, Asia, the Middle East and North America. For more information, visit http://www.dragonwaveinc.com.

Forward-Looking Information

Certain statements in this release constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information includes, without limitation, statements as to growth opportunities and the potential benefits associated with DragonWave's acquisition of the microwave transport business including its associated operational support system (OSS) and related support functions (collectively, the "Business") for either Nokia Siemens Networks or DragonWave (referred to below as the "parties") and expectations regarding the business relationship between the parties. Forward-looking information is based on certain assumptions, including: the parties' beliefs regarding the industry and markets in which they operate and expectations regarding potential synergies and prospects for the Business. This forward-looking information is identified by the use of terms and phrases such as "believe", "expect", "anticipate", "foresee", "target", "estimate", "designed", "plans", "will" or similar expressions. This acquisition is subject to risks and uncertainties including: that the expected synergies will not materialize, that unexpected costs will be incurred to integrate the Business, or that end-customer demand will not meet expectations. In particular, material risks and uncertainties for DragonWave following closing of the acquisition will include, without limitation:


--  reliance on Nokia Siemens Networks for a large percentage of
    DragonWave's revenues; 
--  increased cash requirements to fund acquired operations, and associated
    requirements to comply with debt financing covenants with DragonWave's
    lenders, which should be understood in light of DragonWave's history of
    losses; 
--  increased exposure to global currency fluctuations; 
--  increased regulatory compliance obligations, including financial
    reporting obligations; and 
--  risks associated with acquisitions generally as detailed on pages 19 to
    21 of DragonWave's Annual Information Form dated May 11, 2012 (the
    "AIF"). 

Other risks relating to DragonWave's business and industry can be found in the public documents filed by DragonWave with U.S. and Canadian securities regulatory authorities, including the AIF. These and other risks could cause DragonWave's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. DragonWave assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law.

Contacts: Nadine Kittle Marketing Communications DragonWave Inc.nkittle@dragonwaveinc.com 613-599-9991 ext 2262 John Lawlor VP Investor Relations DragonWave Inc.jlawlor@dragonwaveinc.com 613-895-7000 Becky Obbema Interprose Public Relations (for DragonWave)Becky.Obbema@interprosepr.com (408) 778-2024



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 in 140920 15:28