FALLS CHURCH, Va.-Broadband wireless solution provider YDI Wireless Inc. has acquired KarlNet Inc., which develops software for operating and managing wireless networks.
KarlNet stockholders will receive up to $5.5 million in cash and 1 million shares of YDI common stock, related to the transaction. KarlNet expects the acquisition to enhance its revenue, gross margins, product line, development capabilities and speed to market.
“The combination of the KarlNet software team and YDI’s extensive RF expertise will create a powerful team that can develop and support the best license-free wireless communication products today and in the future,” said Robert Fitzgerald, chief executive officer of YDI.
