Israeli WiMAX vendor Alvarion has confirmed it is in preliminary talks to acquire a stake in local rival Wavion.
According to a statement yesterday, Alvarion is in early negotiations with Elron Electronic Industries, which owns 67% of Wavion, but the…
Israeli WiMAX vendor Alvarion has confirmed it is in preliminary talks to acquire a stake in local rival Wavion.
According to a statement yesterday, Alvarion is in early negotiations with Elron Electronic Industries, which owns 67% of Wavion, but the terms of any transaction have yet to be decided.
The company said “Elron and Alvarion have been in discussions regarding the possibility of a transaction, but there can be no assurance that the parties will reach an agreement, or that a transaction will be consummated or what the terms of such a transaction might be”.
Alvarion and Elron were unable to comment further.
On the same day, Alvarion announced that Anthony Maher has stepped down as the company’s chairman for personal reasons.
Maher has been replaced by Amnon Yacoby, an Alvarion director and former CEO of Israeli telco Floware.
Yacoby said: “We serve wireless broadband markets that have always been characterized by rapid change, which continues to accelerate.
“In addition to a certain amount of disruption, change also provides new opportunities. We are in the process of identifying and pursuing opportunities born of these changing market dynamics, and intend to capitalize on them, taking Alvarion to the next level of profitability and growth.”
