Aether Systems Announces Close of Cerulean Technology Acquisition:
OWINGS MILLS, Md., Sep 15, 2000 (BUSINESS WIRE) -- Aether Systems, Inc. (Nasdaq: AETH chart, msgs) a leading provider of wireless data products and services, today announced the closing of the acquisition of Cerulean Technology, a leading provider of wireless mobile software in the public sector.
The acquisition of Cerulean allows Aether to enter new vertical markets in the public sector by delivering advanced wireless products and services to a segment of the market that Aether and Cerulean have identified as `mobile government.' This sector includes public safety, public works, municipal services, health and human services, courts and corrections, and municipal utilities and other government agencies across federal, state and local levels.
Today, more than 45,000 users at 700 public safety agencies use Cerulean's PacketCluster family of mobile applications to better protect cities and towns and keep public safety agencies running more efficiently and safely. By combining forces with Aether, Cerulean will be able to extend its industry-standard product line with new handheld products and Web-based services.
The transaction was completed according to terms of the agreement and plan of merger entered into by the two companies on August 25, 2000. Under the agreement, Aether issued 462,412 shares of its common stock and $75 million in cash in exchange for all the shares of Cerulean Technology. |
