Tranzeo Wireless Technologies Inc. (TSX:TZT) has agreed to acquire Aperto Networks. Under the deal, Tranzeo will issue common shares to the stockholders of Aperto based on a US$5 million base consideration amount, as adjusted for liabilities and cash of Aperto at closing. Both companies are suppliers of wireless broadband and WiMAX communication systems. Tranzeo is based in British Columbia, Canada, while Aperto is located in Milpitas, California.
"Acquiring Aperto immediately transforms Tranzeo into a market leading complete solutions provider for major telecommunications operators while still supplying product to Tranzeo's existing wireless Internet service providers," said Jim Tocher, President and CEO of Tranzeo.
The companies said Aperto's current backlog of all purchase orders is US$8.3 million. This will be added to Tranzeo's current backlog of US$32.7M.http://http://www.apertonet.com
- Founded in 1999, Aperto Networks was an initial lead contributor to IEEE 802.16 and the ETSI-BRAN standards.