Canadian WiMAX vendor, Tranzeo Wireless has entered into an all-stock merger agreement with Aperto Networks and key Aperto shareholders. Under the terms of the merger agreement Aperto will be merged into a newly incorporated subsidiary of Tranzeo, with Aperto surviving and continuing to be operated as a wholly-owned subsidiary of Tranzeo.
The merger will greatly increase Tranzeo's market share as it becomes a complete end-to-end broadband solutions provider featuring Wi-Fi, WiMax and LTE products. Aperto's current backlog of all purchase orders is US$8.3 million. This will be added to Tranzeo's current backlog of US$32.7 million.
"Acquiring Aperto immediately transforms Tranzeo into a market leading complete solutions provider for major telecommunications operators while still supplying product to Tranzeo's existing wireless Internet service providers," said Jim Tocher, President and CEO of Tranzeo. "With an established world-wide customer base and a pipeline of new customers now in trials, the benefits of today's announcement will start to bear fruit within a year. The future for Tranzeo has never looked better."
The merger is anticipated to be completed in mid-April 2010.
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