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Motorola to Acquire
MeshNetworks
Purchase Will
Extend Broadband Wireless Technology Portfolio
SCHAUMBURG, IIl., -- 16
November 2004 -- Motorola (NYSE:MOT) today announced that it has signed a
definitive agreement to acquire MeshNetworks, Inc., a privately-held, leading
developer of mobile mesh networking and position location technologies that
allow customers to deploy high performance Internet Protocol (IP)-based wireless
broadband networks.
Terms of the transaction
were not disclosed. The acquisition, which is subject to customary conditions
and approvals, is expected to close in the fourth quarter of 2004.
With this acquisition, Motorola will provide
its customers a broader solutions portfolio to build scalable broadband wireless
networks capable of delivering next generation content including data, video,
location and voice over IP (VoIP) services.
"This acquisition will provide Motorola with
technologies that will have a significant benefit for customers across all of
our businesses ranging from mission critical and enterprise markets to
automotive and home entertainment applications,” said Greg
Brown, president of Motorola’s Commercial,
Government and Industrial Solutions Sector (CGISS). “With the addition of
MeshNetworks, Motorola will gain an outstanding team and a proven suite of
products. The acquisition also represents another step in Motorola’s
commitment to deliver seamless mobility to all of our
customers.”
MeshNetworks has developed a
wide range of sophisticated mobile ad-hoc networking, broadband radio and
position-location technologies.
MeshNetwork’s technologies and products
enable users of mobile communications devices to create their own self-forming
and self-healing broadband networks. These networks are capable of operating
even under the harshest conditions and form rapid connections among themselves
without any existing network infrastructure. The technology also enables
network operators to move beyond the limitations of “hotspots”
that typically restrict wireless service to within 300 feet of an access point,
and instead build “hot zones” that offer continuous outdoor
coverage over large metropolitan areas.
Motorola and MeshNetworks have an existing
agreement through which Motorola licenses MeshNetworks MeshConnex™
software for 802.11 wireless LANs and distributes their MeshNetworks Enabled
Architecture (MEA™) product line through its direct sales and re-seller
network. Motorola Ventures, the investment arm of Motorola, is an investor in
MeshNetworks.
About
Motorola
Motorola, Inc. (NYSE: MOT) is a global
leader in wireless, broadband and automotive communications technologies that
help make life smarter, safer, simpler, synchronized and fun. Sales in 2003 were
U.S. $27.1 billion. Motorola creates innovative technological solutions that
benefit people at home, at work and on the move. The company also is a
progressive corporate citizen dedicated to operating ethically, protecting the
environment and supporting the communities in which it does business. For more
information: www.motorola.com
Business
Risks
The statements in this release that are
not historical facts are forward-looking statements based on current
expectations and involve risks and uncertainties. Such forward-looking
statements include, but may not be limited to, statements about the anticipated
timing of the transaction and the potential impact the acquisition will have on
Motorola. Motorola wishes to caution the reader that the factors below and those
on pages 76 through 85 of Motorola's Form 10-K for the year ended December 31,
2003 and in its other SEC filings could cause Motorola's results to differ
materially from those described in the forward-looking statements. These factors
include: (i) unforeseen factors that could impact the timely completion of the
transaction on the terms described, (ii) difficulties in integrating the
operations of the newly-acquired business and achieving strategic objectives,
(iii) difficulties and delays in the development, production, testing and
marketing of acquired technologies, (iv) the uncertainties related to
introducing new technologies, including customer acceptance of the products and
technologies, (v) the ability to differentiate our products and compete with
other companies in the same markets, and (vi) the general outlook for the
economy and the telecom industry.
# #
#
Media Contact:
Jennifer
Weyrauch
+1(847) 435-5320
jennifer.weyrauch@motorola.com
Adrienne
Dimopoulos
+1(847) 576-6612
adrienne.dimopoulos@motorola.com
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