Wireless networking integrator ADE Network Technology has been bought by Canadian-based wireless vendor WaveRider Communications for an undisclosed sum.
According to Bill Anderson, ADE's managing director, the cash and stock acquisition with Nasdaq-listed WaveRider will enable ADE to expand its operations internationally while retaining its current business focus.
"There will be no change in operations," claims Anderson. "[WaveRider] intends to leave the Australian operations intact. It's not their intention to make changes here, but saying that, [ADE] will be expanding into the New Zealand and Asia-Pacific markets where we haven't serviced before."
The acquisition comes after nearly three months of negotiations and will see ADE market and distribute WaveRider's NCL and Last Mile Solution product lines as a wholly owned subsidiary of WaveRider.
"We've been in the market looking for a partner for several months and I'd say WaveRider became aware of us through the market," said Anderson. "[ADE] has been expanding rapidly and we expect to expand further over the next year, so we needed a partner to [back] our growth."
Anderson claims the move internationally is yet to be defined and planning is underway to decide which cities ADE will move operations into. "We've got a lot to do. It's up to us to decide where we go," adds Anderson.
With offices in Sydney, Melbourne, Canberra, Brisbane, Perth, and around 27 sales, engineering, administration and management staff, ADE presents an attractive buy for the wireless-networking vendor.
"The addition of ADE to WaveRider's world-wide network of offices gives us significant presence in Australia and the resources we need to grow throughout the Asia-Pacific market," says Bruce Sinclair, president and CEO of WaveRider.