Powerwave acquires core assets of Kaval Wireless Technologies, supplier of in-building wireless coverage solutions, for around $10.8M in cash

February 9, 2005

2 Min Read

SANTA ANA, Calif. -- Powerwave Technologies Inc. (NASDAQ:PWAV) today announced that it has acquired the core assets of privately held Kaval Wireless Technologies Inc., a leading supplier of in-building wireless coverage solutions.

Under the terms of the acquisition, Powerwave paid approximately $10.8 million in cash and assumed selected liabilities of Kaval Wireless. Kaval is currently operating on an annual revenue run rate of approximately $10 million.

Kaval significantly enhances Powerwave's Coverage Systems group by increasing the product suite and providing additional technical capabilities that cover both commercial services and public safety in key wireless communication frequency bands. Kaval is focused on providing turn-key in-building coverage extension solutions for corporate enterprises, wireless service providers and the public safety markets. One of Kaval's strengths is its position in the public safety and government sectors. Kaval technology solutions help critical fire, police, medical, security and other emergency service personnel improve communications by extending RF coverage throughout any indoor facility. Kaval has implemented coverage solutions in buildings, towers, tunnels, airports, hospitals, stadiums, mines, enterprise campuses, warehouses, shopping malls and conference centers.

"Industry analysts are projecting in-building wireless revenues of over $1.0 billion by 2009," stated Bruce C. Edwards, chief executive officer of Powerwave Technologies. "Our acquisition of Kaval provides us with additional resources to further increase our penetration in the in-building and outdoor wireless coverage space along with the public safety market, which we believe is a leading growth segment. We believe that this acquisition enhances our strategic position as one of the world's leading providers of premier wireless coverage solutions."

"We believe that the combined product synergies of Kaval and Powerwave will enable Powerwave to provide the leading choice for in-building coverage solutions on a worldwide basis," stated David Quinn, chief executive officer of Kaval Wireless. "This combination enables Powerwave to bring to customers an extensive selection of proven technology to solve in-building wireless coverage deficiencies, whether it be for commercial or private networks, or both. The ability to offer a complete solution should further differentiate Powerwave from the competition."

Powerwave Technologies Inc.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like