PCTEL acquires Ireland’s SWT to establish presence in Europe
To gain traction in the growing UMTS infrastructure market and boost presence in Europe, PCTEL, Inc. has acquired all of the shares of Sigma Wireless Technologies Ltd. (SWT) from the Sigma Communications Group Ltd., one of Ireland's leading telecommunications and mobile companies.
Based in Dublin, SWT develops and distributes innovative antennas for public safety and for the rapidly growing UMTS cellular networks. The newly acquired operation, which comprises more than 100 employees, will become part of PCTEL's Antenna Products Group (APG), which is led by Steve Deppe.
The purchase consideration paid by PCTEL at the closing included €19.5 million in cash and the assumption of approximately €2.5 million in pension liability. The total acquisition price was €22 million or approximately $27 million.
The acquisition establishes a European presence for PCTEL, whose antenna sales to date have been principally in North and South America and China. The new generation of cellular technology requires frequent optimization and the ability to manage clusters of antennas. SWT's iVET (integrated variable electrical tilt) antenna technology permits cellular networks to remotely adjust and optimize coverage areas and antenna clusters in response to key network performance parameters, such as signal-to-noise ratios. Adjustable remote tilt or remote electrical tilt (RET) antennas permit operators to adjust-using laptop computers or handheld devices-an antenna's tilt angle.
"The iVET antenna technology gives PCTEL a strong position in the rapidly growing 3G cellular broadband market, an important target for our company," said Marty Singer, PCTEL's chairman and CEO. "We believe in pervasive wireless broadband and we are now in a better position to compete in that space. We are also excited about establishing a stronger European sales presence, expanding our revenue base, and taking the next step in our continued efforts to build a formidable wireless company," added Singer.
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