Huawei & Option sign acquisition agreement for M4S
Under this agreement, and in line with the terms of the announcement made on October 27th 2010, Huawei will acquire 100% of M4S' outstanding equity interests on a fully diluted basis. The transaction is part of the cooperation agreement announced last month by the two companies to facilitate the development of innovative mobile broadband solutions in Europe.
Jan Callewaert, CEO Option commented: ''The signing of this agreement concludes the process of finding an industrial partner for M4S we initiated earlier this year. M4S will benefit from Huawei's vast R&D capabilities and be in the optimal environment to lead the industry with the most innovative 4G chipset solutions. Option for its part remains very committed to bring its own new and innovative wireless broadband solutions to the market, including newer versions of USB wireless modems, embedded modules and software & services.''
Guo Ping, Executive Vice President and Chairman of the board of Huawei Device, said: "The acquisition of M4S will enable Huawei to provide even more innovative mobile broadband devices, accelerate the commercialization of 4G services and support Europe's Digital Agenda ambition. M4S is currently working on a state-of-the-art 4G radio frequency chipset and we believe M4S' strength in the chipset field will further strengthen our network of skilled engineers, our R&D capabilities and our ability to deliver increased value to our customers."
About Huawei Technologies
Huawei is a leader in providing next generation telecommunications networks, and now serves 45 of the world's top 50 operators, along with over one billion users worldwide. The company is committed to providing innovative and customized products, services and solutions to create long-term value and growth potential for its customers.
For more information, please visit www.huawei.com.
Option, the wireless technology company, is a leading innovator in the design, development and manufacture of 3G HSUPA, HSDPA, UMTS, EDGE, and WLAN technology products for wireless connectivity solutions. Option has established an impressive reputation for creating exciting products that enhance the performance and functionality of wireless communications. Option is headquartered in Leuven, Belgium. The company also has Research & Development in Belgium (Leuven) and Germany (Augsburg) and an ISO 9001 production engineering and logistics facility in Ireland (Cork). Option maintains offices in Europe, US, Asia, Japan and Australia. For more information please visit www.option.com.