AirNet Emerges from Bankruptcy

AirNet Communications emerges from Chapter 11; Tecore acquires AirNet to form advanced wireless systems provider

October 13, 2006

1 Min Read

MELBOURNE, Fla. -- AirNet Communications Corporation announced today that its plan of reorganization was approved by a court order entered on October 2, 2006, allowing AirNet to emerge from Chapter 11. TECORE Wireless Systems and AirNet Communications also announced today that TECORE has completed its acquisition of AirNet by acquiring all of re-organized AirNet’s new stock; and provided exit financing to further strengthen AirNet’s balance sheet. AirNet’s operation will remain in Melbourne, Florida.

“We are extremely pleased to have concluded our reorganization while simultaneously retaining our valuable customers and our core technical personnel and assets,” said Glenn Ehley, AirNet’s emeritus CEO.

The plan approved by the court maximizes creditor recovery and affords the company a new opportunity to compete in today’s wireless telecom environment. As long time strategic partners, the acquisition of AirNet by TECORE enhances the existing relationship by building on the best of both companies to form an advanced, wireless systems provider.

“TECORE’s network expertise coupled with AirNet’s advanced radio technologies make this combination stronger than just the sum of the parts,” said Jay Salkini, President and CEO of TECORE. “We are now not only a full-line supplier, but AirNet’s latest IP-based product offerings strategically coordinated with TECORE’s SoftMSC® provide the most advanced network architectures available. Focusing our specific strengths will allow us to penetrate new markets while continuing to support and expand our existing customers’ networks.”

AirNet Communications Corp. (Nasdaq: ANCC)

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