Deal Adds Leading In-Building Wireless Coverage and Wireless Capacity Solutions to ADC’s All IP Radio Access Network (IP RAN) Strategy
SAN JOSE, CA, October 22, 2007—LGC Wireless, the leading supplier of in-building wireless solutions and network systems to mobile operators and Fortune 500 enterprises, today announced that it has agreed to be acquired for $169 million in cash and other considerations by ADC (NASDAQ:ADCT), an international leader in network infrastructure equipment and professional services for broadband networks. The transaction is expected to close in approximately 45 days.
The transaction gives the rapidly-growing LGC Wireless a stronger financial foundation with significantly larger development and marketing resources, which will help it further increase the market leadership of its InterReach Unison® and InterReach Fusion® product lines as well as its CDMA and GSM network solutions.
“We have built a leading global market share with our advanced solutions despite facing larger and better-financed competitors,” said Ian Sugarbroad, president and CEO of LGC Wireless. “As part of ADC our customers will now benefit from the resources of a large public company and an expanded product line. I am excited that together with ADC we can create an even greater range of compelling solutions to address our market’s needs.”
The LGC Wireless acquisition is a linchpin for in-building coverage and capacity in ADC’s All IP Radio Access Network (IP RAN) strategy. LGC Wireless’s portfolio of in-building (DAS) and base station solutions will significantly bolster ADC’s existing line of wireless capacity and coverage solutions in a fast-growing market, supporting ADC’s overall goal of becoming a leading global provider of network infrastructure solutions.
“LGC’s technology meshes very well with our existing lines of networking systems, and we believe that this acquisition will make our wireless division a far more significant contributor to overall corporate revenue,” said Hilton Nicholson, president of the Active Infrastructure division of ADC. “With its complementary culture and shared mission of delivering scalable, high-performance, and cost-efficient networking systems, LGC also brings us a highly talented team that will accelerate our efforts to innovate with our IP RAN solutions.”
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, 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 LGC Wireless
With more than 10,000 systems shipped worldwide to more than 100 countries, LGC Wireless is the leader in specialized wireless coverage and capacity solutions for carriers and the enterprise. LGC’s scalable, high-performance indoor solutions are at work inside buildings in all major venues and industries. In addition, as a leading supplier of compact GSM and CDMA wireless networks, LGC also provides specialized solutions to mobile operators for a broad range of applications. LGC’s products offer low-cost installation, end-to-end monitoring and management, and easy integration of emerging wireless technologies. LGC Wireless is based in San Jose, California USA and is privately held.
For more information, please visit www.lgcwireless.com.
Tel: 07956 425 938
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