For the next several quarters, Alvarion expects to record charges of about $3 million for acquisition and integration costs.
Broadband solutions provider Alvarion (Nasdaq: ALVR) today announced that it completed the acquisition of most of the assets and liabilities of InnoWave, ECI Telecom’s (Nasdaq: ECIL) fixed wireless subsidiary.
Alvarion stated that for the next several quarters, it expected to record charges of about $3 million related to acquisition and integration costs.
As disclosed in a previous announcement from February 19, Alvarion is paying ECI $9.7 million in cash, and granting a warrant to purchase 200,000 of Alvarion's ordinary shares over a period of five years at an exercise price of $3 per share.
Published by Globes [online] - www.globes.co.il - on 2 April, 2003