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Technology Stocks : Newbridge Networks
NN 16.62-1.5%Dec 17 3:59 PM EST
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To: Rob Riordan who wrote (12519)8/3/1999 12:21:00 PM
From: Ian@SI  Read Replies (1) of 18016
 
August 3, 1999

Siemens Information Will Buy Stake
In Omnipoint Technologies Unit

COLORADO SPRINGS, Colo. -- Siemens Information & Communication Networks Group signed a definitive agreement to acquire a majority stake in Omnipoint Technologies Inc.'s Wireless IP Networks division for $40.5 million cash.

In a press release Tuesday, Omnipoint Technologies said the proposed transaction is part of a joint venture between it and Siemens Information.

The joint venture company, based in Colorado Springs, will develop wireless Internet Protocol-based systems that integrate mobile radio and Internet technology. In addition, Siemens Information agreed to lend $4.5 million to Omnipoint Technologies.

...
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