Telrad Networks will purchase the broadband wireless access business of Israeli wireless broadband technology firm Alvarion Ltd for $6.1 million, the companies said. Alvarion may also receive certain performance-based milestone payments of up to $6 million.Last week, Alvarion delayed the release of its fourth-quarter earnings to March 6 due to ongoing negotiations to sell its licensed carrier business.The deal is expected to close in the second quarter.Telrad, an Israeli provider of telecom equipment and services, said it made the deal since broadband wireless access (BWA) is experiencing rapid growth worldwide because it enables wireless connectivity to meet the need for Internet services in areas with little or no access infrastructure.
Alvarion Ltd. is engaged in the design, development, manufacturing and marketing of wireless products. Shares of ALVR fell by 12.28% or $-0.07/share to $0.50. In the past year, the shares have traded as low as $0.31 and as high as $1.05. On average, 275400 shares of ALVR exchange hands on a given day and today's volume is recorded at 514862.
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