FALLS CHURCH, Va.-Broadband wireless solution provider YDI Wireless Inc. has acquired KarlNet Inc., which develops software for operating and managing wireless networks.
KarlNet stockholders will receive up to $5.5 million in cash and 1 million shares of YDI common stock, related to the transaction. KarlNet expects the acquisition to enhance its revenue, gross margins, product line, development capabilities and speed to market.
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“The combination of the KarlNet software team and YDI’s extensive RF expertise will create a powerful team that can develop and support the best license-free wireless communication products today and in the future,” said Robert Fitzgerald, chief executive officer of YDI.