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UBS ACQUIRES ASSETS FROM SIERRACOM

Toronto, Ontario -- Wireless systems provider Unique Broadband Systems (UBS) has announced the acquisition of Point...


July 8, 2002  


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Toronto, Ontario — Wireless systems provider Unique Broadband Systems (UBS) has announced the acquisition of Point-to-Point Radio assets from SierraCom, a Massachusetts company that was involved in microwave based telecom systems.

The assets include intellectual property, test equipment and various other inventories. UBS has also hired SierraCom Spersonnel who were responsible for developing this product line, including Dr. Pasteur Ntake who has been appointed VP of Engineering. Dr. Ntake has 25 years of radio experience gained from a number of companies, including Harris Corp. and Nortel Networks.

“This newly acquired product line is an excellent addition to our wireless product portfolio as it is used by various OEM’s for their cellular network rollouts,” said Gerald McGoey, Chairman and CEO of UBS. “We believe this acquisition, along with the addition of the new personnel, will help maximize the potential of our core strengths, and build value for shareholders as it is expected to be accretive by the end of the 2003 fiscal year.”

The company says it plans to continue with the manufacturing, development and evolution of the Point-to-Point Radio product line into a 3G compliant backhaul Internet protocol radio product.


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