ADC Acquires OpenCell to Broaden Wireless Offerings; Investment in Intellectual Property Enhances ADC's Leadership Position in Distributed Antenna Systems for Wireless Carriers Worldwide.MINNEAPOLIS -- ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADCT ADCT Adaptive Discrete Cosine Transform )(www.adc.com) announced the acquisition of OpenCell, Corp., a manufacturer of digital fiber-fed Distributed Antenna Systems (DAS) and shared multi-access radio frequency (RF) network equipment and a subsidiary of Crown Castle International Corp. (NYSE NYSE See: New York Stock Exchange :CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) ). The acquisition allows ADC to incorporate OpenCell's technology into ADC's existing Digivance(R) wireless solutions, which are used by wireless carriers to extend network coverage and accommodate ever-growing capacity demands. "We believe OpenCell's technology, combined with our existing Digivance radio-over-fiber solution, positions ADC's wireless offering well into the future and furthers the development of our platform for international wireless providers as well," said Robert E. Switz, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ADC. "This technology accelerates the development of our next-generation Digivance offering, which should enable us to implement key functionality improvements almost immediately to better meet our customers' needs worldwide." OpenCell (www.opencellcorp.com), based in Nashua, NH, was founded in 2000. It employs approximately 32 people, including seasoned engineers with wireless expertise. OpenCell's digital product family enables the independent operation of multiple frequency-bands and multiple protocols across a single access network. OpenCell has been dedicated to innovation with multiple patents covering its ClearControl fully digital product line and distributed RF technologies. OpenCell has commercially deployed its products with several customers including three of the largest wireless operators in the U.S. "OpenCell is excited to join ADC and help them continue to lead the advancement of next-generation, digital fiber-optic distributed antenna systems for wireless operators," said David J David J. Haskins (b. April 24, 1957, in Northampton, England) is a British alternative rock musician. He was the bassist for the seminal gothic rock band Bauhaus. Life and work . Porte, CEO of OpenCell. "With ADC's strong financial position, solid intellectual property, and global reach of sales into more than 150 countries, our employees will have the resources, distribution and support to make our combined products the best available solutions for wireless carriers worldwide." ADC acquired OpenCell for $7.25 million in cash along with certain defined liabilities. Before acquired intangibles amortization, ADC expects the acquisition in fiscal 2005 to be around $0.00 dilutive prior to the reverse stock split on May 10, 2005 and around $0.01-$0.02 dilutive after a one-for-seven-reverse stock split on May 10, and accretive to earnings per share starting in fiscal 2006. ADC's wireless offerings help service providers deliver consistent, reliable wireless service in high-demand and hard-to-reach locations. Wireless carriers rely on ADC's Digivance RF transport products to expand and reinforce the wireless network, boosting network performance without adding cell sites. Digivance functions as the distributed antenna system, allowing wireless operators to enhance their networks by cost-effectively extending coverage and distributing capacity where it is needed, including areas that are often difficult to serve. More information about ADC's Digivance RF solutions can be found at www.adc.com/productsandservices/productsolutions/wireless/. In addition to wireless coverage and capacity equipment, ADC provides a broad range of professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. to help wireless operators increase the capacity of their networks, more effectively manage their assets and maximize their network infrastructure. More information on ADC's Professional Services capabilities can be found at www.adc.com/productsandservices/professionalservices/. About ADC ADC provides the connections for wireline, wireless, cable, broadcast, and enterprise networks around the world. ADC's innovative network infrastructure equipment and professional services enable high-speed Internet See broadband. , data, video, and voice services to residential, business and mobile subscribers. ADC (NASDAQ:ADCT) has sales into more than 150 countries. Learn more about ADC at www.adc.com. About Crown Castle Crown Castle International Corp. engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers. Crown Castle offers significant wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. coverage to 68 of the top 100 United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. markets and to substantially all of the Australian population. Crown Castle owns, operates and manages over 10,600 and over 1,300 wireless communication sites in the U.S. and Australia, respectively. For more information on Crown Castle visit: http://www.crowncastle.com. Cautionary Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 All forward-looking statements contained herein, particularly those pertaining to ADC's expectations or future operating results, reflect management's current expectations or beliefs as of the date of such statements and are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act of 1995. ADC Telecommunications cautions readers that future actual results could differ materially from those in forward-looking statements depending on the outcome of certain factors. All such forward-looking statements are subject to certain risks and uncertainties, including, but not limited to, significant difficulties in forecasting sales and market trends; uncertainties regarding the level of capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. by telecommunications service providers and enterprise customers; the overall demand for ADC's products or services; the demand for particular products or services within the overall mix of products sold, as our products and services have varying profit margins; changing market conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. either within ADC's industry or generally within the economy; the impact of actions we may take such as acquisitions and divestitures; ADC's ability to effectively integrate the KRONE acquisition or other acquisitions with ADC's historic operations; ADC's ability to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose excess assets on a timely and cost-effective basis; new competition and technologies; increased costs associated with protecting intellectual property rights; the retention of key employees; pressures on the pricing of the products or services ADC offers; performance of contract manufacturers used by ADC to make certain products; the availability and cost of raw components; changes in exchange rates as an increasing portion of our sales since the KRONE acquisition come from outside the United States; possible consolidation among our customers, competitors or vendors; and other risks and uncertainties, including those identified in the section captioned Risk Factors in Exhibit 99 of ADC's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the fiscal quarter ended January 31, 2005. ADC disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion