OWINGS MILLS, Md.-Aether Systems Inc. further hinted at future major business moves with the appointment of strategic advisory company Friedman, Billings, Ramsey & Co. Inc. Aether said the firm would help advise the company on possible “acquisitions of new or complementary businesses, additional divestitures, investment strategies, or other strategic initiatives.”
Aether said it hopes such business moves will both accelerate its previously announced goal of profitability as well as help form a long-term strategy of success.
“Following the recent sale of our Enterprise Mobility Solutions division, Aether is faced with some very important decisions in terms of how to best serve our shareholders and leverage our existing assets,” said David Oros, Aether’s chairman and chief executive officer. “We believe that FBR’s experience and expertise will assist us in deciding how best to maximize our two operating businesses, our significant cash balances, and our substantial accumulated net operating losses.”
Aether’s investors appeared pleased by the move, sending the company’s stock up slightly to $4.80.
Aether has previously stated its intent to engage in further strategic business moves. The company recently sold its wireless enterprise division, leaving it with its government and transportation division.
