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Technology Stocks : Adaptive Broadband (NASDAQ:ADAP)

ADAP 0.0502

-1.2%

Oct 31 9:30 AM EST

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To: Rex Dwyer who started this subject	6/30/2000 2:40:38 PM
From: Mr. Miller	Read Replies (1) of 215

$129 million(over $122 million in cash, with about $7 million in assets remaining) raised by ADAP, WITHOUT ANY STOCK DILUTION. The $19.2 million will come in some time in July, but the other $109.8 million is coming in today June 30, 2000. That's a lot of cash for operations. ADAP is now free of its slow-growing businesses and moving full force into wireless broadband. biz.yahoo.com ADAPTIVE BROADBAND CORPORATION(Nasdaq:ADAP - news) has entered into an agreement with Vislink plc (formerly Silvermines Group plc) to sell its Microwave Radio Communications division for $19.2 million in cash. Vislink is a UK-based manufacturer of broadcast and telecommunications equipment. The company announced recently that it had entered into agreements to sell two other divisions. Agreements have been reached with Comtech Telecommunications Corp. to sell the EFData satellite modem division for a total transaction value of $67.8 million, and with Mosely Associates to sell the Microwave Data Systems (MDS) division for $42.0 million. It is planned that the results of all three transactions will be combined and reported. The company expects to recognize a net book gain on the combined divestitures and to retain substantially all of the cash due to the company's deferred income tax benefits. The MRC transaction, which is targeted to close in July 2000, is subject to normal conditions, including governmental reviews and approval by the shareholders of Vislink. MRC designs, develops and manufactures a wide range of microwave radio products for the television broadcast and electronic newsgathering markets.

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