VCom Completes Purchase of Wave Wireless Assets
Release Date: October 26, 2006
17:40 EDT Friday, October 20, 2006
VICTORIA, Oct. 20 /CNW/ – VCom Inc. (TSX: VCM), a leader in broadband last mile access technology, announces today, as an update to its September 29, 2006 disclosure, that it has completed the purchase of the additional assets associated with the Sales and Marketing components of Wave Wireless Corporation’s 900 MHz business. Under the finalized terms of the agreement, VCom now owns the operational assets associated with the 900MHz business of Wave Wireless’ wholly owned subsidiary; WaveRider Communications Inc. VCom’s geographic presence has grown with new offices in Toronto and Calgary as a result of the agreement. The spaces will continue to serve as R&D, marketing and sales hubs for the acquired 900 MHz business, but additionally, will be strategically coupled with sales and technical support for VCom’s growing wireless business.
“The strategic location of the Toronto office in particular provides us a key opportunity to address the needs of our rapidly growing customer base in the wireless business,” said VCom Chief Executive and Chairman, Dr. Surinder Kumar. “Market interest in our broadband internet radios, in particular our new family of WiMAX radios has increased considerably and this acquisition gives our customer support system closer proximity and increased dedication to a wide range of current and prospective clients.”
VCom Inc. designs, manufactures and sells products that enable broadband access to cable, wireless and telephony networks. VCom’s hardware products incorporate embedded software developed by it to meet the complex requirements of next-generation, high-speed digital networks. Service providers use VCom’s solutions to deliver services to a converging worldwide broadband market, including what are commonly known as “triple play” (voice, video and data) and “quadruple play” (voice, video, data and wireless) services. VCom’s solutions allow service providers to rapidly and cost-effectively bridge the final network segment that connects the system directly to end users, commonly referred to as “the last mile”, by overcoming the bottleneck resulting from insufficient carrying capacity in legacy, last mile infrastructures. VCom’s products are directed at three principal markets: Data over Cable, Broadband Wireless and Digital Video. The Company has also developed and continues to focus on developing products to address emerging markets such as Voice over Internet Protocol, fibre to the home and IP video. VCom currently employs over 600 people in Western Canada. Pending shareholder approval at VCom’s Annual and Special Meeting, slated for November 13, 2006, the Company plans to change its name to Vecima Networks Inc.
For more information, visit www.vcom.com.
Certain statements in this news release may constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements are generally identified by the use of such words as “may”, “will”, “expect”, “believe”, “plan”, “intend” and other similar terminology. These statements reflect VCom’s current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors including, but not limited to, the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated September 27, 2006 available on SEDAR (www.sedar.com), could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.
For further information: VCom Communications: Alan Brick, IRO, (250) 881-9182, firstname.lastname@example.org