Airspan Networks agreed to acquire Nortel Networks Fixed Wireless Access business for approximately $12.9 million in cash. The deal includes a number of customer prepaid deposits (which at closing are expected to exceed $11 million), and Airspan will assume the obligation to supply these prepaid orders. Airspan expects the transaction to have an immediate positive earnings and cash impact, and to add substantially to Airspan’s revenues going forward.
The Nortel Networks Fixed Wireless Access business is a supplier of fixed wireless access using 3.5 GHz spectrum. The products are sold under the Proximity brand name. Installations have included a major deployment in Mexico, described as one of the largest single 3.5GHz fixed wireless access networks in the world. Since Proximity was first deployed in 1996, Nortel Networks has installed almost 500,000 million lines with 15 operators in 14 countrieshttp://www.airspan.com
