BOCA RATON, Fla.-Airspan Networks Inc., provider of broadband fixed wireless DSL networks, announced it plans to acquire Nortel Networks’ fixed wireless access business for $12.9 million by the end of the year.
Airspan will acquire all existing assets associated with the manufacture, development and support of Nortel’s Proximity fixed wireless product line, including certain intellectual property rights. Nortel employees in the Proximity business will transfer to Airspan and will continue to be based in the United Kingdom and Florida. Airspan will also assume Nortel’s current manufacturing obligations, including the assembly and final testing of Proximity products.
“This signing represents a major milestone for the growth of Airspan,” said Eric Stonestrom, chief executive officer of Airspan. “The acquisition of Nortel Networks’ fixed wireless access business will solidify Airspan’s position as the market and technical leader in the fixed wireless market.”
