P-Com Inc., a manufacturer of millimeter wave radio systems, signed a definitive agreement to purchase the assets of Columbia Spectrum Management L.P. The purchase price will be $22.5 million, including $8 million cash and $14.5 million in P-Com common stock.
Columbia Spectrum Management provides market and system analysis, frequency planning, negotiation services, program management and turnkey relocation for cellular, business by-pass and the personal communications services industry.
“This acquisition is designed to broaden our worldwide product offering to include services which our customers both domestic and international have been requesting,” said George Roberts, chairman and chief executive officer of P-Com. “In addition, this will allow P-Com to become more involved with our customers in the actual design and roll out of their networks.”
The companies said they expect the acquisition to close sometime this month.
