Westell Technologies Announces Noran Tel Acquisition
Canadian Telecommunications Company Becomes Westell Subsidiary
AURORA, Ill.--(BUSINESS WIRE)--
Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of broadband access products, gateways and conferencing services, today announces that it has acquired privately-owned Noran Tel, Inc., a Saskatchewan, Canada-based premier provider of telecommunications products. Noran Tel will remain based in Saskatchewan and will operate as a Westell subsidiary.
"This acquisition represents another important strategic expansion to our Network Service Access (NSA) sector and signifies our efforts in further developing this business," said Van Cullens, Westell President and CEO. "Noran Tel will provide us with new customer, channel, and geographic diversification which will allow us to offer more products to more customers in more markets," Cullens said. Noran Tel's carrier-class portfolio of products and technologies extends Westell's current network transport and termination solutions with transmission products, power distribution products, and newly developed remote monitoring solutions. As a combined product portfolio, Westell will now offer a larger suite of transmission, distribution, and maintenance solutions for telecommunication providers, value-added resellers and business enterprises throughout North America.
The addition of Noran Tel builds on the successful 2005 acquisition and integration of HyperEdge Corporation. "We believe the acquisitions of Noran Tel and HyperEdge very strongly benefit Westell and, most importantly, our customers," Cullens said. "We will immediately take full advantage of the opportunity to offer the expanded product set of both companies to each other's customers," Cullens said.
Randy Blayone will continue to serve as president of the Noran Tel subsidiary. "We are confident that combining Noran Tel's expertise in telco power distribution and remote monitoring with Westell's proven history in carrier markets will create exciting future growth opportunities for both companies and more choices for our customers," Blayone said. "My team is committed to working closely with Westell to ensure that our combined customers experience the benefit of this acquisition in a timely manner."
Westell Technologies, Inc., (NASDAQ: WSTL) headquartered in Aurora, Illinois, is a Broadband Access Solutions company that provides leading broadband products, service solutions, and conferencing solutions for carriers, service providers and business enterprises around the world. Westell delivers innovative, open broadband solutions that meet the market's needs for fast and seamless broadband connection. ConferencePlus, a Westell subsidiary, offers conferencing services including voice, video, and IP data conferencing, to carriers and multi-national corporations throughout the world. For more information visit www.westell.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act 1995:
Certain statements contained herein including, without limitation, statements containing the words "believe," "on track," " anticipate," "committed," "expect," "estimate," "await," "continue," "intend," "may," "will," "should," and similar expressions are forward looking statements that involve risks and uncertainties. These risks include, but are not limited to, product demand and market acceptance risks, need for financing, the economic downturn in the U.S. economy and telecom market, the impact of competitive products or technologies, competitive pricing pressures, product development, excess and obsolete inventory due to new product development, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the effect of Westell's accounting policies, the need for additional capital, the effect of economic conditions and trade, legal social and economic risks (such as import, licensing and trade restrictions) and other risks more fully described in Westell's Annual Report on Form 10-K for the fiscal year ended March 31, 2006 under the section "Risk Factors." Westell undertakes no obligation to release publicly the result of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Westell Technologies, Inc.
Released January 3, 2007