MOUNTAIN VIEW, Calif.-Alvarion Ltd. said it will not pursue the acquisition of interWAVE Inc. because interWAVE has not been able to meet the conditions for closing the deal, adding it will not follow the terms set forth in the agreement.
InterWAVE said it disagrees with Alvarion and will seek “available alternatives.”
“These discussions pertain only to interWAVE’s business,” said Zvi Slonimsky, chief executive officer of Alvarion. “We have not experienced any material changes in our business. We are expecting to report third-quarter results in line with our guidance and the outlook remains strong.”
