SAN JOSE, California, United States—Netro will acquire AT&T Wireless’ “Project Angel” fixed-wireless assets, including the company’s development team, a license to intellectual property, equipment and proprietary software assets for US$16 million in cash and 8.2 million shares of Netro common stock.
The transaction is expected to close during the next 30 days and at that time, AT&T Wireless will own approximately 13.5 percent of Netro’s common stock. In addition, Lewis Charkin, executive vice president of corporate strategy and planning for AT&T Wireless, will join Netro’s board of directors.
