NetComm gets $161m buyout offer
Australian telecommunications equipment company NetComm Wireless has received an all-cash takeover offer from US-based Casa Systems valuing the company at around $161 million.
NetComm’s board has unanimously recommended the $1.10 per share takeover offer, stating that the backing of Casa Systems will allow the company to further develop its 5G customer premises equipment technologies.
The deal, which still requires approval from shareholders and the Foreign Investment Review Board, is expected to close in June.
“This deal is a clear show of confidence in the market-leading technologies that NetComm has developed in both the fixed wireless and fixed broadband sectors. Casa Systems have said that they are particularly impressed by our 5G Fixed Wireless Self-Install technology, which they say complements their existing technology platform very well,” NetComm interim CEO Steve Collins said.
“The addition of our world-leading 5G Customer Premises Equipment technologies to their platform will enable a full end-to-end solution for operators looking to deploy 5G Fixed Wireless services.”
NetComm is showcasing its new 5G fixed-wireless self-installation technology at Mobile World Congress this week. The technology is designed to dramatically reduce the cost of connecting end users to 5G fixed wireless networks.
Information Technology Professionals Association (ITPA) is a not-for-profit organisation focused on continual professional development for its 18,700 members. To learn more about becoming an ITPA member, and the range of training opportunities, mentoring programs, events and online forums available, go to www.itpa.org.au.
In a remarkable twist, some companies are blaming their customers for shortfalls in customer...
The Australian smartphone market contracted by a record 9% during 2018 to just 8.2 million units...
A person's heartbeat could soon replace the keys needed to access their home and car,...