Tranzeo Wireless Completes Sensoria Corporation Asset Acquisition: Transaction adds wireless mesh networking equipment and engineering expertise to Tranzeo's portfolio of wireless point-to-point and -multipoint solutions.
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Featured firm in this article: Sensoria Corporation of San Diego, CA
PITT MEADOWS, B.C. SAN DIEGO, Calif. -- 01/31/2007 - Tranzeo Wireless Technologies Inc. ("Tranzeo"), an industry leader in designing, manufacturing and distributing high-speed wireless broadband communication systems globally, today announced that it has completed the acquisition of all of the assets of Sensoria Corporation ("Sensoria") relating to Sensoria's wireless mesh networks technology for broadband applications. The assets acquired included Sensoria's patents and intellectual property. In addition, Tranzeo has hired most of Sensoria's employees. Tranzeo issued 840,337 common shares and paid cash consideration of $675,000 as consideration for the acquisition of the assets. In addition to a statutory hold period, the common shares issued are subject to a contractual hold period such that after 120 days following their issuance 25% of the shares will be released, then in each of the subsequent eight months an additional 9.375% of the shares issued will be released.
Sensoria's wireless mesh networks technology is purposely designed for voice, video and data and enables the delivery of wireless mesh solutions to mission critical environments for wireless commercial broadband, public safety and the military. Tranzeo plans to integrate the Sensoria technology into its range of wireless broadband products using the assistance of the former Sensoria employees who will remain in San Diego, California. These employees have substantial and unique expertise on the design and deployment of wireless mesh networks technology.
The Sensoria EnRoute family of wireless mesh network equipment and network management software for mission-critical voice, video and data applications will be added to the growing Tranzeo product portfolio. Tranzeo's global network of distributors will also have the opportunity to represent the wireless mesh networking solution in addition to Tranzeo's line of point-to-point and multi-point WiMAX, 900MHz, 2.4 GHz, 3.5GHz, 4.9GHz, and 5.8 GHz solutions.
"Tranzeo acquired Sensoria's wireless mesh networking technology as both an excellent fit with our existing portfolio of wireless connectivity solutions as well as a foothold in strategic new markets that are experiencing rapid growth," said Jim Tocher President and CEO of Tranzeo Wireless Technologies.
"Tranzeo, its customers and Sensoria's customers all benefit from this acquisition with a complete solution for outdoor broadband wireless," said Dave Gelvin, former President and CEO of Sensoria Corporation and now Tranzeo's U.S. Division President.
About Sensoria Corporation:
Founded in 1998, Sensoria is a pioneer and trusted expert in wireless mesh networks for broadband applications. With a rich history of serving military and homeland security markets, Sensoria has delivered mission critical wireless mesh solutions for over six years. Sensoria's most recent product family, targeted at the municipal market, leverages that experience and expertise, enabling the company to deliver the best price performance mesh networking solution on the market today. Sensoria's wireless mesh network equipment and network management software is designed specifically for the complexities of converged voice, video and data communications, with deployments within municipalities, campuses, public safety and the military. Sensoria is headquartered in San Diego, California.
About Tranzeo: Tranzeo Wireless Technologies Inc. (TSX:TZT) is an industry leader in designing, manufacturing and distributing high-speed wireless broadband communication systems globally. Tranzeo's continued commitment to design excellence and years of experience provide its clients with industry-specific wireless Point-to-Point and Point to Multi-Point solutions.
Tranzeo offers the most technically advanced wireless broadband communication equipment available in the 900MHz, 2.4 GHz, 3.5GHz, 4.9GHz, and 5.8 GHz wireless spectrums and employs direct sequence spread spectrum (DSSS) and Orthogonal Frequency Division Multiplexing (OFDM) technology for robust connectivity and longrange performance. Tranzeo solutions are designed for simplicity of use and installation, ease of implementation and cost-effectiveness so that network managers can easily connect office buildings, campuses and remote sites. Tranzeo wireless networks are operational in a fraction of the time it takes to cable and install traditional wired networks and can be remotely monitored and configured from anywhere in the world. For more information on Tranzeo's wireless solutions, go to www.tranzeo.com.
This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, revenues, and other expectations. These statements reflect our current expectations and are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market.
Matt Johansen, Investor Relations
Tranzeo Wireless Technologies Inc.
Email: ir@tranzeo.com
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