Craig Wireless Updates Status of Integration of Woosh Wireless (NZ) Limited Business
PR Newswire
RANCHO MIRAGE, CA, March 27, 2012
RANCHO MIRAGE, CA, March 27, 2012 /PRNewswire/ - Craig Wireless Systems Ltd. ("Craig Wireless" or the "Company") CWG announces today that in connection with its acquisition of a 51% interest in Woosh Wireless Holdings Limited, the parent company of Woosh Wireless (NZ) Limited, the integration of the business of Woosh Wireless and its approximately 25,000 customers into the Craig Wireless operations framework has been substantially and successfully completed.
As previously announced on December 2, 2011, Woosh Wireless (NZ) Limited completed the acquisition of the business and substantially all of the related assets of Woosh Wireless Limited ("WWL") in accordance with the rights conferred under the New Zealand Personal Property Security Act, 1999 after acquiring certain secured advances owing by WWL to creditors. Closing on certain remaining spectrum rights still held by WWL is expected to occur at a later date in accordance with the agreement between the parties.
T. Boyd Craig stated "We are pleased with the integration of the Woosh Wireless business into the Craig Wireless organization, and look forward to continued expansion in the New Zealand marketplace".
About Craig Wireless Systems Ltd.
Craig Wireless and its affiliates (collectively, the "CWS Group") offer a broad range of telecommunications services, including,
broadband internet access, business connectivity solutions, hosting,
security and telecommunications solutions. Through certain members of
the CWS Group, Craig Wireless holds or leases licenses for spectrum in
the 2.5 GHz, 2.6 GHz or 3.5 GHz bands in Riverside County in Southern
California, United States and in Greece. The CWS Group also has
spectrum interests in Norway and New Zealand. Spectrum in these ranges
is effective for delivery of point-to-multipoint signals, possesses
robust bandwidth capability and supports emerging 4G-based services and
applications, including portable and mobile applications.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Notice on forward-looking statements
This release includes forward-looking statements regarding Craig
Wireless and its business. Such statements are based on management's
current expectations. The forward looking events and circumstances
discussed in this release may not occur and actual results could differ
materially as a result of known and unknown risk factors and
uncertainties affecting Craig Wireless and its business. Not to limit
the generality of the foregoing, the forward-looking information set
forth in this news release is subject to various risks and other
factors including the following: the risks of conducting business in a
foreign country, and currency fluctuations. No forward-looking
statement can be guaranteed. Forward-looking statements speak only as
of the date on which they are made and Craig Wireless does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
SOURCE Craig Wireless Systems Ltd.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.