Signal Technology Announces Plan for New Line of Products for Commercial Wireless Broadband Networks
Danvers, Mass.--(BUSINESS WIRE)--August 7, 2000--
Company Recruits Four Wireless Industry Professionals
to Form Dallas-based MultiPoint Product Management Team
Signal Technology Corporation ("Signal") (Nasdaq: STCO), a leading provider of state-of-the-art electronic components and subsystems for wireless communications, defense and space applications, today announced the formation of its MultiPoint Product Management Team. The team's goal is to introduce the company's new products for the multipoint broadband wireless communication market within the next year, and will be spearheaded by four industry veterans recently recruited from SpectraPoint Wireless, LLC, with a combined total of more than 90 years of engineering and management experience in wireless communications.
"The market for high-speed broadband wireless access is still in its infancy and will experience tremendous growth over the next five to 10 years," said George Lombard, Signal's chairman and chief executive officer. "Point-to-multipoint technology is the prime wireless solution for a broadband network's 'last-mile' connection to the end user. We anticipate that the introduction of products for multipoint radios will help vault Signal to the top tier of suppliers to broadband wireless infrastructure providers."
Signal's plans for expanding its point-to-multipoint offerings had previously centered on the acquisition of LogiMetrics/mmTech, which currently participates in this market. The companies were unable to reach an agreement on terms, and the merger talks were discontinued in July 2000. "Some of Signal's existing products are currently used in radios that are deployed in point-to-multipoint networks," Lombard said. "Given these existing capabilities, expanding our presence in this growing marketplace through internal R&D is an attractive alternative to acquisitions for Signal's further penetration into wireless telecommunications."
"We are extremely fortunate to have four of the industry's top people in multipoint technology joining Signal to form the core of our MultiPoint Product Management Team," said Signal President and Chief Operating Officer James V. DiLorenzo. "The team's mission and sole purpose will be to lead Signal's multipoint R&D and propel us into this exciting global market." The team will be based in the Dallas, Texas area, DiLorenzo said.
Douglas B. Weiner will be heading the MultiPoint Product Management Team as Signal's vice president, multipoint products. Weiner joins the company from SpectraPoint Wireless, LLC, where he most recently served as director, systems application engineering. He brings Signal 24 years of microwave and wireless architecture design and management experience.
Also joining Signal as members of the multipoint team are three other wireless communications engineers, each of whom most recently held senior engineering management positions at SpectraPoint Wireless, LLC.
"These four outstanding professionals bring a unique depth and breadth of wireless technology experience to the Signal organization," concluded DiLorenzo. "I look forward with great excitement to the results of the partnership between this new team and everyone in our existing Signal Wireless Group centers of excellence. This is an outstanding opportunity to accelerate our growth in the commercial multipoint |
