Establishes Presence in Network Analytic
Tools
Expands Engineering Services
PCTEL, Inc. (NASDAQ:PCTI), a leader in Performance
Critical Telecom solutions, announced today that it
had acquired the assets of Nexgen Wireless, Inc., a Schaumburg,
Illinois-based company providing Meridian™, a network analysis tool
portfolio, and engineering services. Nexgen’s industry-leading
Meridian software product portfolio translates real-time network
performance data into engineering actions that optimize operator
performance. Meridian, with its modules of Network IQ™, Subscriber
IQ™, and Map IQ™, sets the stage for crowd-based, cloud-based data
analysis that delivers immediate impact to network performance.
Nexgen provides performance engineering, specialized staffing, and
trend analysis for carriers, infrastructure vendors, and neutral
hosts. They apply their products and services in 2G, 3G, 4G, and
LTE networks. The combination of Meridian and network engineering
expertise has distinguished Nexgen Wireless in the
telecommunications industry.
PCTEL paid $20.5 million at the closing with an additional $2
million in cash incentives for performance of the newly acquired
software business. In addition to $22.5 million in total cash
consideration, there are additional stock incentives for the
executive team that vest over four years. Revised 2015 revenue
guidance will be discussed during this morning’s PCTEL earnings
conference call (7:30 a.m. CST).
“Integrating the Meridian product portfolio and Nexgen’s
extensive engineering services into PCTEL establishes a national
engineering services operation and permits us to deliver greater
value to our traditional customers,” said Marty Singer. “We will
add real-time engineering data and analysis to our product offer
and direct more of our efforts into crowd-based, cloud-based data
that facilitates the design of complex in-building and small cell
networks. We are delighted to have John Thakkar, Nexgen’s founder
and CEO, join PCTEL’s executive team. Together, we will take PCTEL
to the next level,” added Singer.
“When we founded Nexgen, our longer term goal was to expand our
capabilities through strategic relationships,” said John Thakkar,
PCTEL’s newly appointed Vice President, Network Analytics. “The
opportunity to integrate our products and services with PCTEL’s
IBflex™, small cell antennas, and engineering services will result
in innovative approaches to improving the performance of small cell
and in-building networks. My goal, as part of the PCTEL team, is to
establish a meaningful subscription-based operation that will allow
carriers to take full advantage of rich network data,” added
Thakkar.
Thakkar will lead the development of the Meridian product
portfolio and drive software as a service (SaaS). All of the Nexgen
Wireless assets will be integrated into PCTEL’s RF Solutions Group.
David Neumann is the Senior Vice President and General Manager of
RFS. The acquisition includes 160 full-time employees and expanded
capabilities in indoor and outdoor testing, software development,
data storage and analysis, and subject matter experts contracted by
carriers and infrastructure vendors. PCTEL has approximately 620
employees worldwide. The Nexgen Wireless team will continue to
operate out of its Schaumburg facility.
Wunderlich Securities, Inc. served as financial advisor to PCTEL
on this transaction.
About PCTEL
PCTEL delivers Performance Critical Telecom
solutions. The industry relies upon PCTEL to benchmark network
performance, analyze trends, and optimize wireless networks.
PCTEL’s antennas and site solutions are vital elements for SCADA,
oil and gas, utilities, fleet management, health care, public
safety, education, small cell, and network timing.
PCTEL’s RF Solutions products and services improve the
performance of wireless networks globally. PCTEL’s performance
critical products include its MXflex™, IBflex™, and EXflex®
SeeGull® scanning receivers and related SeeHawk® and SeeWave™
tools. PCTEL’s sophisticated engineering services utilize these
products as well as the Meridian™ network analytics tool.
PCTEL Connected Solutions™ designs and delivers
performance critical antennas and site solutions for wireless
networks globally. PCTEL’s performance critical MAXRAD® and
Bluewave™ antenna solutions include high rejection and high
performance GPS and GNSS products, the industry leading Yagi
portfolio, mobile and indoor LTE, broadband, and LMR antennas and
PIM-rated antennas for transit, in-building, and small cell
applications. We provide performance critical mobile towers for
demanding emergency and oil and gas network applications and
leverage our design, logistics, and support capabilities to deliver
performance critical site solutions into carrier, railroad, and
utility applications.
PCTEL’s products are sold worldwide through direct and indirect
channels. For more information, please visit the company's web
sites: www.pctel.com, www.antenna.com, or
www.rfsolutions.pctel.com.
About Nexgen Wireless
Nexgen Wireless is a leading provider of innovative software and
engineering services for telecommunications. With more than a
decade of wireless engineering experience, hundreds of successful
projects, and millions of drive testing miles completed, Nexgen’s
expertise helps shorten time to market and reduce operating and
capital expenses in collaboration with carriers and other industry
players.
Nexgen Wireless offers advanced analytics solutions through the
Meridian™ Product Suite. Predictive and powerful, the Meridian
Suite provides mobile operators with actionable intelligence. These
breakthrough tools can be used individually or as a package to
proactively identify and solve issues, improve user experience,
accelerate deployments, and lower operational costs.
Safe Harbor
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
Specifically, the statements regarding the anticipated benefits of
PCTEL's acquisition of the Nexgen Wireless assets, and the ability
of PCTEL to develop further the Meridian™ network analysis tool
portfolio, to facilitate the design of in-building and small cell
networks through crowd-based, cloud-based engineering data and
analysis, and to deliver greater value to customers through a
national engineering services operation established by PCTEL are
forward looking statements within the meaning of the safe harbor.
These statements are based on management's current expectations and
actual results may differ materially from those projected as a
result of certain risks and uncertainties. These risks and
uncertainties include, but are not limited to, risks associated
with development and implementation of Meridian and other
technologies associated with translating network performance data
into engineering actions; the ability of the operators to take the
specified engineering actions to achieve the desired optimization
of their networks; competition within the markets in which Nexgen
Wireless and PCTEL compete; demand for crowd-based, cloud-based
network data; successful integration of the business of Nexgen
Wireless into PCTEL’s existing organization; obtaining protection
for the related intellectual property; increased operating
expenses; and the growth of the wireless communications market.
These risks and uncertainties and others, including, but not
limited to, those detailed from time to time in PCTEL's Securities
and Exchange Commission filings, can affect PCTEL's financial
condition, future results of operations, business and prospects.
These forward-looking statements are made only as of the date
hereof. PCTEL disclaims any obligation to update or revise the
information contained in any forward-looking statement, whether as
a result of new information, future events or otherwise.
PCTEL, Inc.Jack Seller, 630-339-2116Public
Relationsjack.seller@pctel.com
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