Embattled broadband vendor Cambium Networks has sold several of its fixed wireless product lines to Airspan mere days after the vendor went into administration in the U.K.
Texas-based Airspan has snapped up a portfolio that includes point-to-multipoint access systems, unlicensed point-to-point backhaul, and point-to-point systems for defense, among others. It’s also acquired Cambium’s management and planning software systems.
In addition to products, the deal, of which financial details weren’t disclosed, sees more than 135 Cambium employees join Airspan. Sales and support staff, as well as R&D teams from the U.K., the U.S., and India, will make the jump across.
“Cambium’s point-to-point and point-to-multipoint products are a compelling addition to Airspan’s 4G and 5G wireless network solutions for service providers, defense, and critical communications,“ Airspan CEO Glenn Laxdal said in a statement. “We are fully committed to supporting the customers and partners who have invested in these products.”
For Airspan, the deal marks a series of acquisitions as it grows out its wireless business, having poached units from both Corning and Jabil.
For Cambium, it marks a much more dire tone and a much-needed cash injection.
Spun out of Motorola Solutions in 2011, the vendor has seen its star fade of late, having been delisted from the Nasdaq following repeated failures to file reports on time and a stock price well below the required $1.00 minimum bid price threshold.
Its U.K. arm entered administration last week – the British equivalent of Chapter 11 bankruptcy – with RSM UK Restructuring Advisory LLP appointed to oversee the business, per a notice on the company’s website.
In addition to selling off assets, reports indicate Cambium is planning to cut some 260 jobs globally, equivalent to around 53% of the company's workforce. Signs of exits have already begun, with senior inside channel account manager for the UK/IE & Nordics, Tariq Saddique, confirming his departure via LinkedIn.
More in Mergers, Acquisitions & Funding
More in The Distributed Infrastructure Channel
-
-
-
Episode Is data AI’s biggest bottleneck?
Comments