WFII just put out news
And here it is...
(BSNS WIRE) Wireless Facilities Acquires Comcor Advisory Services Inc.; WFI
Wireless Facilities Acquires Comcor Advisory Services Inc.; WFI Strengthens
Site Development Capabilities to Meet Growing Demand for Turnkey Deployment
Services
Business/High-Tech Editors
SAN DIEGO--(BUSINESS WIRE)--April 25, 2000--Wireless Facilities
Inc. (WFI) (Nasdaq:WFII), a global leader in the design, deployment
and management of wireless telecommunications, today announced the
acquisition of Comcor Advisory Services Inc., a privately-held
provider of site development services to the wireless mobility and
broadband wireless communications market.
This acquisition serves to further strengthen WFI's turnkey
network deployment capabilities in the areas of site acquisition and
project management. Comcor will be integrated into WFI's Network
Deployment organization.
Under the terms of the acquisition, WFI will pay approximately
$7.75 million in cash and stock. The acquisition will be accounted for
as an asset purchase and is expected to close in the second quarter of
WFI's fiscal 2000. This is WFI's third acquisition this year and fifth
in the past 12 months.
Headquartered in San Francisco, Comcor was founded in 1995 and has
grown to 40 employees. It has worked with some of the nation's fastest
growing wireless mobility carriers, including Aerial Communications,
Sprint PCS, AT&T Wireless Services, GTE Wireless, Nextel
Communications and Pacific Bell Wireless, as well as leading broadband
wireless service providers such as Teligent and Winstar.
"The addition of Comcor and its staff of experienced professionals
continues our strategy of identifying and acquiring leading providers
of network outsourcing services in support of our long-term growth
objectives," said Massih Tayebi, CEO of WFI. "In addition to Comcor's
significant work in the wireless mobility market, its deployment
experience in fixed wireless networks will augment our existing
broadband deployment capabilities and extend our leadership in the
broadband wireless space."
About Comcor
Comcor Advisory Services Inc., was incorporated in 1995 to
provide superior infrastructure development services to the wireless
telecommunications industry. Since that time, Comcor has become a
full-service real estate, zoning, project management, and legal
services company. Comcor and its employees have provided wireless site
identification, leasing, zoning, and management services on thousands
of sites in California, Florida, Illinois, Massachusetts, Missouri,
Nevada, New Jersey, New York, Ohio, Oregon, Pennsylvania, and Sao
Paolo, Brazil.
About Wireless Facilities
A global leader in telecommunications outsourcing, Wireless
Facilities Inc. designs, deploys and manages wireless networks for
some of the largest cellular, PCS and broadband wireless carriers and
equipment suppliers worldwide. Specializing in network architecture
and dimensioning of mobile and high speed wireless data systems, WFI
provides a complete range of network services -- from business and
market planning to RF engineering, fixed network engineering, IP and
data engineering, site acquisition and development, installation,
optimization and maintenance. Headquartered in San Diego, WFI has
grown to more than 1,100 employees and has performed work in 37
countries since the company was founded in late 1994. The company has
offices in Chicago, Seattle, Washington, D.C., Mexico City, Sao Paulo,
New Delhi and London. News and information are available at
www.wfinet.com.
WFI(R) is a trademark of Wireless Facilities Inc.
Forward Looking Statement -- This news release contains certain
forward-looking statements that involve risks and uncertainties. Words
such as "anticipates," "expects," "intends," "plans," "believes,"
"may," "will," and similar expressions are intended to identify
forward-looking statements. Such statements are only predictions, and
the company's actual results may differ materially from those
anticipated in these forward-looking statements. Forward looking
statements include references to the acquisition strengthening the
company's capabilities in providing wireless voice and data network
services to telecom carriers and equipment suppliers; enhancing the
company's ability to meet growing demand for turnkey network
deployment services; augmenting the company's existing broadband
deployment capabilities and extending the company's leadership
position in broadband wireless deployments. Factors that may cause
such differences, include, but are not limited to; potential loss of
customers that are presently serviced by Comcor or WFI; a movement
away from the present trend to outsource by telecom carriers and
equipment suppliers; the company's ability to retain and hire key
personnel; and the continued growth in deployment of wireless
networks. These factors and others are more fully discussed under
"Risk Factors" and elsewhere in the company's most recent Form 10-K
(March 30, 2000) as filed with the Securities and Exchange Commission.
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CONTACT: Wireless Facilities Inc.
Media Contact
Glenn Selbo, 858/824-2929
Page 1 of 2
glenn.selbo@wfinet.com
or
Investor Contact
Mark Francois, 858/450-7304
mark.francois@wfinet.com
or
Comcor Advisory Services Inc.
William R. Winn, 415/956-8200
bwinn@comcor-companies.com
KEYWORD: CALIFORNIA INTERNATIONAL EUROPE LATIN AMERICA
INDUSTRY KEYWORD: NETWORKING TELECOMMUNICATIONS REAL ESTATE
MERGERS/ACQ
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