Herley Announces Acquisition of Fixed Wireless Subsystem Manufacturer

Herley Wireless Technologies, a subsidiary of Herley Industries that supplies complex microwave components and products to the commercial wireless industry, has reached an agreement in principle to acquire, for cash, the issued and outstanding stock of Terrasat, a privately held company based in Morgan Hill, CA. Terrasat manufactures microwave and millimeterwave subsystems for use in point-to-point and point-to-multipoint digital radios and VSAT (very small aperture satellite terminals).

Founded in 1994, Terrasat's products are used by equipment manufacturers in the wireless infrastructure markets (cellular backbone and last mile links), wireless broadband communication (Internet access, integrated voice/video/data), and satellite communications (broadcast, Internet access, telephony). Terrasat's transceivers and outdoor units are used in a number of licensed band digital microwave radios, including 10.5 GHz for Point-to-Multipoint. Terrasat's 3.5 GHz transceiver for Wireless Local Loop applications is slated for introduction by year-end.

Dr. Rozalie Schachter, President of Herley Wireless stated, "This is a very good strategic fit for Herley Wireless. Demand for medium and high capacity wireless equipment used for delivering integrated voice/data/video, Internet access, and cellular backbone continues to grow and Terrasat's products are essential building blocks for such equipment. Based on the combination of engineering expertise and its investment in research & development, Terrasat has developed an excellent product line and established a strong and growing base of domestic and international customers.''

Closing is expected within ninety days subject to a satisfactory due diligence and approval of Herley's Board of Directors.

Edited by Gregg Miller
Managing Editor, RF Globalnet