Cushcraft Corporation Acquires Pacific Wireless.

MANCHESTER, N.H. -- Cushcraft Corporation of Manchester, NH today announced the acquisition of Pacific Wireless Incorporated of Salt Lake City, Utah.

Pacific Wireless will continue to be operated by the founder and current management team under their existing brand as a division of Cushcraft Corporation. Customers, partners and suppliers will continue to work with Pacific Wireless in accordance with current business arrangements.

"We are very excited about this opportunity to work closely with Cushcraft" said Scott Parsons, President and CEO of Pacific Wireless, "We see this complementary relationship giving us access to Cushcraft's legendary engineering capabilities and strong financial backing. Both will help Pacific Wireless continue to grow in the rapidly expanding Wireless ISP (WISP) market"

Cushcraft Corporation has long been acknowledged as the world's leading supplier of enhanced performance antennas for Wi-Fi, 802.11, WLAN applications. More recently, Cushcraft has become a very prominent supplier of high performance antennas to OEMs and carriers in the Broadband Wireless Access and RFID markets. The acquisition of Pacific Wireless significantly enhances Cushcraft's growing prominence in the Broadband Wireless Access (including 802.16/WiMAX) market by establishing a very strong presence in the WISP (Wireless Internet Service Provider) market. Both the Broadband Wireless Access and WISP markets are complimentary to the 802.11, Wi-Fi, WLAN market.

Cushcraft is also recognized within the industry for having developed the most advanced RF design and artificial intelligence optimization tools. These tools provide a strong design platform for developing solutions to our customer's most challenging RF problems, whether those challenges are for high performance, low cost or the optimal blend of both. This allows the company's highly skilled engineering staff to design and develop extremely sophisticated, high performance RF structures in a fraction of the time that would be required using the best currently available design tools and techniques.

"We are looking forward to working with the experienced management team and established distributor network of Pacific Wireless", said Gregory S. Czuba, CEO of Cushcraft. "Over the past several years Cushcraft has developed advanced proprietary RF design and optimization tools that allow us to rapidly invent products that solve all kinds of difficult RF problems. Access to these design tools and the highly skilled engineering staff at Cushcraft will allow Pacific Wireless to more rapidly develop new high value products for the WISP market. Cushcraft also has a very strong financial position through our relationship with Polaris Venture Partners, Riverside Partners, Harbourvest Partners and Comerica Bank. The inherent growth characteristics for the markets that we have been independently active in coupled with Cushcraft's engineering and financial resources will enable the combined companies to grow exponentially."

The Broadband Wireless Access and WISP markets have been growing at a blistering pace of late eclipsed only by the pace of growth in the Wi-Fi market. Growth in the Broadband Wireless Access and WISP markets is being fueled by the growing certainty of WiMax compatibility standards, the attraction of high speed connectivity and the fact that wireless deployments are the fastest, most cost effective way to bring connectivity to subscribers.

Incorporated by Scott Parsons in 1999, Pacific Wireless has rapidly become the fastest growing provider of radio antennas and related accessory products to WISPs and their subscribers. Mr. Parsons has served as President and CEO of Pacific Wireless and brings over 30 years of experience in product management, high volume contract manufacturing, Total Quality Management, engineering and engineering test and measurement. Mr. Parsons now joins the Cushcraft Senior Leadership Team as Pacific Wireless Vice President of Business Development.

"This transaction is complementary both in product mix and sales channels." said Jim Nugnes, Vice President, Sales and Marketing at Cushcraft. "Cushcraft designs, develops and manufactures antenna products that meet very rigorous Broadband Wireless Access and 802.11 Wi-Fi OEM performance and mechanical requirements. Our products are sold through OEM sales channels as well as our own. The Pacific Wireless product mix and sales channels are targeted to meet the needs of service providers and subscribers in the WISP market and has quickly become one of the most trusted and recognized brands in that market."