WaveRider And Gruntal Sign Strategic Financial Services Agreement
TORONTO--(BUSINESS WIRE)--April 30, 2001--WaveRider (NASDAQ:WAVC - news; FRANKFURT:WRV.FSE)
Gruntal and Co., L.L.C. to Provide Full Range of
Investment Banking and Acquisition Services
WaveRider Communications Inc. (NASDAQ:WAVC - news), a leading global provider of fixed wireless Internet access products, today announced the signing of an agreement with Gruntal & Co., L.L.C., New York, NY. Under the terms of the agreement, Gruntal will leverage its financial and advisory services to support WaveRider's growth strategy.
Gruntal & Co specializes in providing investment banking services and equity research to growth industries. The service agreement with WaveRider includes Private Placements, Mergers and Acquisitions and Underwritings of equity and debt.
``With the robust outlook for wireless broadband suppliers, and WaveRider's industry-leading technology and global capabilities, it is an exciting time for us to provide the financial services needed to support and promote the company's growth,'' said William J. McCluskey, Senior Managing Director, Gruntal & Co.
``The recent launch of our latest Last Mile Solution® products has positioned WaveRider to capture market share in the rapidly growing wireless broadband market place,'' stated Bruce Sinclair, president and chief executive officer, WaveRider Communications Inc. ``Establishing a strategic relationship with a major New York Investment Banking firm like Gruntal that is well establish in the communications sector is an important step in supporting our aggressive growth plans.''
Gruntal is a full service investment banking and brokerage firm headquartered in New York City. Established in 1880, Gruntal, a founding member of the New York Stock Exchange, is one of the oldest and most respected investment banking firms in the country with a proud history of service and financial stability. Through its approximately 2,000 employees and 30 branch offices nationwide, Gruntal currently manages over $20 billion in assets and offers a comprehensive line of financial services to small and mid-size emerging growth companies and individuals. These services include investment banking, research, trading, asset management and brokerage services.
About WaveRider Communications Inc.
WaveRider Communications, Inc. (www.waverider.com) is a leading wireless information technology company that develops, manufactures and markets products for data communications and Wireless Internet Networking (WIN). WaveRider's high performance products use frequency hopping and direct sequence spread spectrum technology coupled with time division duplexing techniques and operate in the license-free 900 MHz and 2.4 GHz ISM frequency bands. NCL Series Wireless Bridges and Routers provide the wireless connection between single or multiple computer networks. Integrated network management features ensure data is quickly forwarded to its intended destination based on network conditions. WaveRider's LMS (Last Mile Solution)® Product Family connects wireless modems that offer high-speed connections to the Internet for business and residential customers. WaveRider is traded on the NASDAQ National Market, under the symbol WAVC.
This release contains forward-looking statements that involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the development of the Internet as a commercial medium, market acceptance risks, technological development risks, seasonality and other risk factors detailed in the Company's filings with the Securities and Exchange Commission. |
