Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) is in preliminary talks to buy WiMAX equipment maker Airspan Networks Inc. (OTCBB: AIRN.PK). The talks are in very early stages, with no guarantee that they will lead to a deal.
Boca Raton, Florida-based Airspan is considered a rival of Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR). More than a year ago, Gilat considered signing an OEM agreement with Airspan. Since then, Airspan was removed from regular Nasdaq trade and now trades on the pink sheets market.
Estimates are of deal of several million dollars.
Last week, private equity firm KCPS Satellite Communications, LP (KCPS) made a purchase offer to Gilat shareholders to buy 5% of Gilat's shares. KCPS is a limited partnership headed by KCS Private Equity Partners 1, L.P., an Israeli limited partnership that is part of private equity fund KCS Private Equity I Fund.
Published by Globes [online], Israel business news - www.globes-online.com - on June 21, 2009
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