Contact Information: Contacts: Michael Schoolnik Story Communications (415) 674-3816 John Niedermaier EVP, COO LGC Wireless (408) 952-2430
LGC to Be Acquired by ADC
Deal Adds Leading In-Building Wireless Coverage and Wireless Capacity Solutions to ADC's All IP Radio Access Network (IP RAN) Strategy
| Source: LGC Wireless
SAN JOSE, CA--(Marketwire - October 22, 2007) - LGC
Wireless, the leading supplier of in-building wireless solutions and
network systems to mobile operators and Fortune 500 enterprises, today
announced that it has agreed to be acquired for $169 million in cash and
other considerations by ADC (NASDAQ : ADCT ), an international leader in
network infrastructure equipment and professional services for broadband
networks. The transaction is expected to close in approximately 45 days.
The transaction gives the rapidly growing LGC Wireless a stronger financial
foundation with significantly larger development and marketing resources,
which will help it further increase the market leadership of its InterReach Unison® and InterReach Fusion® product lines as well as its CDMA and
GSM network solutions.
"We have built a leading global market share with our advanced solutions
despite facing larger and better-financed competitors," said Ian
Sugarbroad, president and CEO of LGC Wireless. "As part of ADC our
customers will now benefit from the resources of a large public company and
an expanded product line. I am excited that together with ADC we can create
an even greater range of compelling solutions to address our market's
needs."
The LGC Wireless acquisition is a linchpin for in-building coverage and
capacity in ADC's All IP Radio Access Network (IP RAN) strategy. LGC
Wireless's portfolio of in-building (DAS) and base station solutions will
significantly bolster ADC's existing line of wireless capacity and coverage
solutions in a fast-growing market, supporting ADC's overall goal of
becoming a leading global provider of network infrastructure solutions.
"LGC's technology meshes very well with our existing lines of networking
systems, and we believe that this acquisition will make our wireless
division a far more significant contributor to overall corporate revenue,"
said Hilton Nicholson, president of the Active Infrastructure division of
ADC. "With its complementary culture and shared mission of delivering
scalable, high-performance, and cost-efficient networking systems, LGC also
brings us a highly talented team that will accelerate our efforts to
innovate with our IP RAN solutions."
About ADC
ADC provides the connections for wireline, wireless, cable, broadcast, and
enterprise networks around the world. ADC's innovative network
infrastructure equipment and professional services enable high-speed
Internet, data, video, and voice services to residential, business and
mobile subscribers. ADC (NASDAQ : ADCT ) has sales into more than 150
countries. Learn more about ADC at www.adc.com.
About LGC Wireless
With more than 10,000 systems shipped worldwide to more than 100 countries,
LGC Wireless is the leader in specialized wireless coverage and capacity
solutions for carriers and the enterprise. LGC's scalable, high-performance
indoor solutions are at work inside buildings in all major venues and
industries. In addition, as a leading supplier of compact GSM and CDMA
wireless networks, LGC also provides specialized solutions to mobile
operators for a broad range of applications. LGC's products offer low-cost
installation, end-to-end monitoring and management, and easy integration of
emerging wireless technologies. LGC Wireless is based in San Jose,
California USA and is privately held. For more information, please visit
www.lgcwireless.com.