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WirelessDevNet.com Press Release
TESSCO Acquires Wireless Training Provider
HUNT VALLEY, Md.--TESSCO Technologies Incorporated (Nasdaq: TESS), a value-added supplier of the product solutions needed to build, operate, and use wireless systems, today announced the acquisition of NetForce Solutions, Inc., a provider of technical and sales training solutions to the wireless, telecommunications, and networking industries. The purchase includes substantially all non-cash business assets for an initial cash payment and additional contingent cash earn-out payments over a four-year period.
NetForce will be integrated into the TESSCO Training Business Unit which also includes the recently acquired GigaWave Technologies’ business. Today, the two NetForce founders, seven trainers, and numerous training contractors, produce and deliver more than 50 courses and numerous customized programs. As a result, TESSCO’s ability to provide for the significant increase in demand for technical and sales training solutions in wireless and telecommunications will be greatly enhanced. TESSCO’s comprehensive training offerings include standard and custom courses delivered through hands-on, instructor-led training in areas such as: test equipment, fiber optics, IP-based services, WLAN, broadband, retail sales, and next-generation wireless.
TESSCO Chairman, President and CEO Robert B. Barnhill, commented, "We are pleased to have NetForce’s experienced founders and capable educators as part of the TESSCO team and we think that there is a great opportunity to significantly scale the business as a combined entity. Education and training have become increasingly important to our customers as they strive to improve their speed to market, productivity and quality. The acquisition of NetForce is another step towards becoming Your Total Source for learning, and we expect NetForce to contribute positive earnings and cash flows this fiscal year.”
NetForce’s unaudited revenues for calendar 2006 were less than 1% of TESSCO’s total revenue.
About TESSCO
TESSCO Technologies Incorporated is a value-added supplier of the product solutions needed to design, build, run, maintain and use wireless systems. TESSCO is committed to delivering, fast and complete, the product needs of wireless system operators, program managers, contractors, resellers, and self-maintained utility, transportation, enterprise and government organizations. As Your Total Source® supplier of mobile and fixed-wireless network infrastructure products, mobile devices and accessories, and installation, test and maintenance equipment and supplies, TESSCO assures customers of on-time availability, while streamlining their supply chain process and lowering inventories and total costs. To learn more, please visit TESSCO.com.
About NetForce Solutions
Founded in October 2000, NetForce Solutions, Inc. is a privately held Virginia corporation. NetForce is a complete training and consulting company focused in the telecommunications and networking industries. NetForce partners with their customers by building strong relationships, and providing them with custom solutions, and follow-up support that helps ensure success. To learn more, please visit www.netforcesolutions.com.
About GigaWave Technologies
GigaWave Technologies, a division of TESSCO, is the leading provider of innovative training services and curriculum development for the dynamic Wireless Local Area Network (WLAN) industry. Services include hands-on, instructor-led training and curriculum development. GigaWave has the expertise to thoroughly train IT professionals who need to know how to design, install and secure WLAN technologies.
Forward-Looking Statements
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