Adaptive Broadband Corp (NASDAQ:ADAP)
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Adaptive Broadband develops products for the Broadband Wireless market. Their products are able to send large amounts of voice, video, and data traffic over the airwaves using microwave and satellite technology. The Company has been developing the technology since their founding in 1972 under its original name, California Microwave. In April of this year, the Company changed its name from California Microwave to Adaptive Broadband, and spun out its low-growth Government business to Northrup Grumman for $93 million in cash. The refocused Company currently derives revenues from three product areas: 1) Broadcast Television (25%), 2) Satellite (50%), and 3) Data Telemetry (25%). In addition, the Company is trialing a new set of products for two-way wireless data access which could represent a $55 million opportunity over the next 15 months.
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