WaveRider Buys Australian Wireless Co.
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[Toronto, CANADA] WaveRider Communications Inc., a provider of fixed wireless Internet access products, will acquire ADE Network Technology Pty Ltd., a privately-held wireless infrastructure company based in Melbourne, Australia.
ADE Network Technology has five offices throughout Australia and an established customer base. It offers sales and distribution of wireless solutions and provides planning, installation and maintenance services.
The final agreement is contingent upon WaveRider and ADE satisfactorily completing a number of closing conditions. The purchase price for WaveRider's acquisition of ADE is expected to be within the range of US $2.5 million to $3.5 million and include a combination of shares and cash.
WaveRider's acquisition of ADE Network Technology Pty Ltd is part of its strategy to expand its capabilities in key global markets. In January of this year, it opened an office in Beijing, China and this month, added an office in Mexico. In June, WaveRider announced alliances with global engineering services firms to support the installation and deployment of products in markets around the world.