PWAV, Powerwave Technologies, Inc.
** PWAV and Shenzhen Tatfook Technology Co. Ltd. reported that they have entered into a definitive agreement under which Tatfook will acquire selected assets of PWAV?s China manufacturing facility and will provide PWAV with a long-term manufacturing and supply agreement.
Tatfook will purchase certain assets from Filtronic (Suzhou) Telecommunication Products Co. Ltd, which is the subsidiary of PWAV that owns and operates PWAV?s China manufacturing operation, for US$12.5 million which will be fully paid on closing.
The transaction is expected to close during the current quarter, and includes the assumption of selected facility leases in Suzhou, the purchase of certain equipment, inventory and offers of employment to employees located in PWAV?s China manufacturing operations.
Upon closing of this transaction, PWAV will license Tatfook to manufacture and sell selected antenna and tower mounted amplifier products within the China market under a license and manufacturing agreement. Tatfook will pay an upfront license fee of US$5 million under the license and manufacturing agreement as well as ongoing royalty fees on future product sales. Also upon closing of the transaction, Tatfook will enter into a strategic supply agreement with PWAV where PWAV can benefit from Tatfook?s low cost structure and strategic manufacturing capabilities.
PWAV is retaining all of its industry leading antenna capabilities, as well as advanced capabilities that are crucial to providing leading edge filtering solutions to the global wireless market, including customer relationships, product innovation and research and development, global customer support and customer contracts.
PWAV is a global supplier of end-to-end wireless solutions for wireless communications networks. PWAV designs, manufactures and markets a comprehensive suite of wireless solutions, including antennas, base station products and advanced coverage solutions, utilized in all major wireless network protocols and frequencies, including Next Generation Networks in 4G technology, such as LTE and WiMAX.
More about PWAV at www.powerwave.com.
SYNC, Synacor, Inc.
** For the first quarter of 2012, SYNC posted total revenue of $30.7 million, a 64% increase year over year, and net income of $1.2 million, compared to $0.1 million in the same period the prior year.
According to its business outlook, SYNC's revenue for the second quarter of 2012 is projected to be in the range of $30.5 million to $31.0 million, while its revenue for the full year of 2012 is projected to be in the range of $123.0 million to $126.0 million.
SYNC's customer-branded platform enables cable, satellite, telecom and consumer electronics companies to deliver TV Everywhere, digital entertainment, services and apps to their end-consumers, strengthening those relationships while monetizing the engagement.
More about SYNC at www.synacor.com.
SPNC, Spectranetics Corporation
SPNC reported FDA approval of the new advanced GlideLight Laser Sheath for removal of cardiac leads. As part of SPNC?s vision to safely manage every lead, GlideLight delivers more precise control to reduce the force for safe lead extraction.
SPNC?s current laser sheath, the SLS(R) II, requires significantly less force to advance than mechanical telescoping sheaths. GlideLight is a major leap forward, requiring 55% less force to advance than SLS II.
A limited market release of GlideLight will be conducted to gain early experience prior to a broader controlled launch. GlideLight will be SPNC?s focus at the Heart Rhythm Society meeting in Boston May 9-11, where physicians will be able to experience the GlideLight difference first-hand at the Spectranetics exhibit.
SPNC develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. SPNC?s products are sold in more than 40 countries and are used to treat arterial blockages in the heart and legs, as well as the removal of pacemaker and defibrillator leads.
More about SPNC at www.spectranetics.com.
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