Washington D.C., November 23, 2011 — Alvarion Technologies Ltd. (NASDAQ: ALVR), a provider of optimized wireless broadband solutions addressing the connectivity, capacity and coverage challenges of public and private networks, today announced that it has completed the acquisition of privately-held Wavion, which was announced on November 2, 2011. The Wavion acquisition enables Alvarion to further leverage its years of experience providing carrier-grade solutions to create a unique combination of multi-technology capabilities which can be optimized for various types of networks and applications.
"The acquisition of Wavion will enable us to address the market for carrier-grade WiFi, one of the fastest growing segments of telecom equipment, with advanced technology designed specifically to serve the most demanding applications of both public and private networks," said Eran Gorev, President and CEO of Alvarion. "We are pleased that we were able to close the acquisition quickly and will focus on rapid integration to leverage our combined strengths. We continue to expect the acquisition to be accretive to non-GAAP earnings beginning in Q2 of 2012."
Wavion is a technology leader in outdoor WiFi applications for metro and rural areas with deployments in more than 75 countries. Featuring Wavion Base Stations with 802.11n in 2.4 GHz and 5 GHz unlicensed bands and in 700 MHz licensed band, Wavion offers end-to-end solutions including access, backhaul, CPEs, management and service provisioning tools. Wavions’s headquarters is located in Yoqne’am Israel, with worldwide offices in the U.S., Brazil, Mexico, Colombia, India, China, Philippines, Singapore, Africa and Russia.
Alvarion Technologies Ltd. (NASDAQ:ALVR) provides optimized wireless broadband solutions addressing the connectivity, capacity and coverage challenges of telecom operators, smart cities, security, and enterprise customers. Our innovative solutions are based on multiple technologies across licensed and unlicensed spectrums. (www.alvarion.com)
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion’s management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: potential impact on our business of the current global recession, the inability of our customers to obtain credit to purchase our products as a result of global credit market conditions, the failure to fund projects under the U.S. broadband stimulus program, continued delays in 4G license allocation in certain countries; the failure of the products for the 4G market to develop as anticipated;, Alvarion’s inability to capture market share in the expected growth of the 4G market as anticipated, due to, among other things, competitive reasons or failure to execute in our sales, marketing or manufacturing objectives; the failure of the Alvarion’s strategic initiatives to enable Alvarion to more effectively capitalize on market opportunities as anticipated; inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to establish and maintain relationships with commerce, advertising, marketing, and technology providers and other risks detailed from time to time in the Company’s 20-F Annual Report Risk Factors section as well as in other filings with the Securities and Exchange Commission.
Information set forth in this press release pertaining to third parties has not been independently verified by Alvarion and is based solely on publicly available information or on information provided to Alvarion by such third parties for inclusion in this press release. The web sites appearing in this press release are not and will not be included or incorporated by reference in any filing made by Alvarion with the Securities and Exchange Commission, which this press release will be a part of.
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