Mary Rose Roberts
Mary Rose Roberts is the associate editor of Urgent Communications, formerly Mobile Radio Technology magazine. She can be reached at maryrose.roberts@penton.com
ANNAPOLIS, MD – December 29, 2008 – TeleCommunication Systems, Inc. (TCS) (NasdaqGM: TSYS), a leading provider of mission-critical wireless communications, today announced that it has teamed with Booz Allen Hamilton, a leading strategy and technology consulting firm, to provide the United States Army Information Technology Agency (ITA), the technology component of the Office of the Administrative Secretary of the Army (OAA) with a broad range of information technology professional services. The primary mission of the ITA is to provide information technology support to the Department of Defense military organizations in the Pentagon and throughout the National Capital Region. As sub-contractor, TCS currently has received orders totaling $1.25 million.
The ITES-2S scope includes a full range of services and solutions necessary for the Army to satisfy its support of Army net-centric goals with IT services worldwide. Specifically, Booz Allen and TCS are supporting the OAA Information Technology Agency (ITA) with enterprise architecture related services including project management, information assurance, call center services, financial asset management support, DoD directory support, Web site development, Web site management, wireless support, billing and budget support, Continuity of Operations (COOP), engineering support and IT implementation.
“Our team is pleased to be working with a reputable and first-class organization such as Booz Allen on a project that will ensure that OAA and ITA meet future enterprise architecture requirements,” said Michael Bristol, Senior Vice President of TCS’ Government Solutions Group. “TCS is heavily involved supporting the OAA ITA so we have a deep understanding of their technology and process requirements. This enables us to hit the ground running without any type of learning curve needed.”
For more information on TCS IT professional services visit: http://www.telecomsys.com/government/prof_services.cfm
A full list of TCS contract vehicles can be found at:
TeleCommunication Systems, Inc. (TCS) engineers and delivers highly reliable wireless communications technology. TCS is a leader in wireless text messaging and location-based technology, including E9-1-1 services and commercial applications like navigation that use the precise location of a wireless device, and secure satellite-based communications systems and services. Customers include leading wireless and VoIP carriers around the world, cable MSOs, automotive telematics vendors, and agencies of the U.S. Departments of Defense, State, and Homeland Security. TCS is one of six primary vendors on a $5 billion Army Worldwide Satellite Systems Contract vehicle. For more information, visit www.telecomsys.com.
SAN RAMON, Calif.–(BUSINESS WIRE)–Giga-tronics Incorporated (NASDAQ:GIGA) announced today it received a $1.9 million order for microwave components from a major supplier of test and measurement equipment. The award for high performance YIG oscillators and signal processing modules will be fulfilled by Giga-tronics’ Microsource component manufacturing subsidiary located in Santa Rosa, California. John Regazzi, CEO of Giga-tronics stated, “I’m pleased to offer our component expertise as an additional avenue to serve the test and measurement community, in conjunction with our high performance instruments and switching products. This customer has used our components in the past and we are very pleased they have chosen to place another order with us.” The bulk of this order is scheduled to be delivered by the end of 2009.
Founded in 1980, Giga-tronics Incorporated is a publicly held company, traded on the NASDAQ Capital Market under the symbol “GIGA”. Giga-tronics is a leading engineering and design manufacturer of best-in-class RF and microwave signal generators, power amplifiers, power meters, USB power sensors, broadband switching matrices and high performance microwave signal processing components. Research and Development production and calibration managers, scientists, engineers and technicians around the world use Giga-tronics test equipment and realize higher productivity and greater ease of use in many applications: ATE systems, aerospace and defense telecommunications and general component test. URL: www.gigatronics.com.
This press release contains forward-looking statements concerning profitability, backlog and shipments. Actual results may differ significantly due to risks and uncertainties, such as future orders, cancellations or deferrals, disputes over performance and the ability to collect receivables. For further discussion, see Giga-tronics’ annual report on Form 10-K for the fiscal year ended March 29, 2008 Part I, under the heading “Risk Factors” and Part II, under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations”.
SAN DIEGO–(BUSINESS WIRE)–NextWave Wireless Inc. (NASDAQ: WAVE) announced that it has sold a 75% stake in its IPWireless, Inc. subsidiary (“IPWireless”) to IPW Holdings, an entity formed by the senior management team of IPWireless, for $1 million plus the reimbursement of NextWave’s transaction expenses up to $500,000. In addition, the employees of IPWireless have waived any continuing rights under the IPWireless Stock Bonus Plan established by NextWave.
The terms of the transaction were approved by an independent committee of the Board of Directors of NextWave, which was advised by financial advisors in connection with the structure of the transaction and the fairness of the consideration. Earlier this year, NextWave announced its intention to exit the network infrastructure business and divest its IPWireless subsidiary which was reported as a discontinued operation for accounting purposes in NextWave’s 10-Q filing for the Third Quarter. Due to the completion of the transaction, financials associated with IPWireless will not be reflected on NextWave’s consolidated balance sheet for the fiscal year ended December 27, 2008.
Following the close of this transaction, IPWireless and IPW Holdings entered into a separate transaction with a strategic customer under which IPWireless received debt financing to support its business operations, and NextWave will have no continuing obligations to fund or otherwise provide support to IPWireless. In addition, with the closing of the transaction, Dr. William Jones, the senior officer of IPWireless and IPW Holdings, will focus his efforts on IPWireless and has resigned from his positions as a member of the Board of Directors of NextWave and Chief Executive Officer of NextWave Network Products. The entire management team of IPWireless will transfer from NextWave to lead IPWireless as it continues to supply innovative mobile broadcast and broadband solutions based on 3GPP standards.
Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” for purposes of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual events or results could differ materially from the events or results predicted by such statements. Important factors that could cause actual events or results to differ materially are discussed in greater detail in the filings of NextWave with the Securities and Exchange Commission. Investors should refer to NextWave’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2008 and other filings with the Securities and Exchange Commission for a description of risks relating to NextWave’s business, including, but not limited to its need to successfully restructure its global operations in order to comply with the terms of its Senior Notes and Second Lien Notes and continue as a going concern; its requirements to comply with a restrictive Operating Budget and meet asset sale targets pursuant to the terms of its Senior Notes and Second Lien Notes or bear adverse economic consequences including increased interest expense, acceleration of indebtedness or further warrant issuances; its high level of leverage and reduced operating flexibility due to debt covenants; its need to successfully sell the majority of its domestic and international spectrum assets in order to retire its debt on or prior to its maturity dates; its Multimedia segment must sustain and grow its business in the current challenging economic climate in light of NextWave’s greater dependence on the Multimedia segment for future revenues needed to comply with its Operating Budget; NextWave’s common stock could be delisted from the NASDAQ Global Market if its stock price continues to trade below $1.00 per share; it may identify a material weakness in internal control over financial reporting for the year ended December 27, 2008 due to control deficiencies at certain discontinued subsidiaries if NextWave fails to dispose of such subsidiaries prior to fiscal year-end; and the outcome of recent securities class action and derivative claims filed against NextWave and its directors and executive officers; and the other risks described under the heading “Risk Factors” in such filings. All such documents are available through the SEC’s website at www.sec.gov. NextWave makes no commitment to update any forward-looking statements in order to reflect subsequent changes in events or circumstances except as may be required pursuant to applicable law.
MOUNTAIN VIEW, CA–(Marketwire - December 24, 2008) - Cavium Networks (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for networking, communications, security, and wireless applications, today announced they have completed their acquisition of W&W Communications, finalizing an agreement that was announced on November 20. Cavium Networks closed the purchase for approximately $19.3 million, subject to certain purchase price adjustments, including the retirement of certain liabilities of W&W Communications.
This acquisition launches Cavium Networks into the high growth video processor market with a broad product line called PureVu™. The PureVu™ family of video processors and modules incorporate proprietary and patent pending video technology that produce perceptual lossless video quality and deliver practically zero latency with extremely low power and cost.
Cavium’s new acquired family of PureVu™ processors address a broad range of applications in consumer, enterprise, service provider and digital video surveillance markets. Consumer applications include next generation media enabled home gateways and media servers, wireless HD for TV, laptops and game consoles and HD video capture for fixed and mobile applications. Enterprise applications include high-quality Telepresence, Video Conferencing, Video Surveillance, Video Telephony, Tele-medicine and Distance Learning. Service provider applications include multi-channel video transcoding and transrating for Video on Demand and content distribution services.
The PureVu™ processors were recently honored with the prestigious CES Innovations 2009 Design and Engineering Award. The processors will be displayed at International CES in the Las Vegas Hilton Suite 2866, January 8-11, 2009. Please contact Angel Atondo at angel.atondo@caviumnetworks.com to set-up a meeting.
About Cavium Networks
Cavium Networks is a leading provider of highly integrated semiconductor products that enable intelligent processing in networking, communications, storage, wireless and security applications. Cavium Networks offers a broad portfolio of integrated, software compatible processors ranging in performance from 10 Mbps to 20 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband/consumer and access & service provider equipment. Cavium Networks processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium Networks principal offices are in Mountain View, CA with design team locations in California, Massachusetts and India. For more information, please visit: http://www.caviumnetworks.com.
Note on Forward-Looking Statements
This press release may contain forward-looking statements regarding future events that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. These forward-looking statements involve risks and uncertainties, as well as assumptions that if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include but are not limited to, the utility of the acquired assets and underlying technology and general economic conditions. More information about these and other risks that may impact Cavium’s business are set forth in the “Risk Factors” section of our Form 10-Q filed with the Securities and Exchange Commission on November 12, 2008. All forward-looking statements in this press release are based on information available to us as of the date hereof and qualified in their entirety by this cautionary statement, and we assume no obligation to revise or update these forward-looking statements.
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