|[November 08, 2012]
Alvarion® Receives Second Payment Pursuant to IP Sale
TEL AVIV, Israel --(Business Wire)--
Ltd. (NASDAQ: ALVR), a global provider of optimized
wireless broadband solutions addressing the connectivity, coverage and
capacity challenges of public and private networks, announced today that
it received an additional $8.3 million in connection with its sale of
patents to Wi-LAN Inc., following receipt of an approval of the Office
of the Chief Scientist in Israel ("OCS").
The third part of the transaction for the sale of patents to Wi-LAN, for
which Alvarion (News - Alert) will be paid an additional amount of up to $2.2 million,
is subject to a separate review and approval by the OCS relating to a
smaller number of patents and patent applications.
On October 1, 2012, Alvarion announced the sale of part of its IP
portfolio to Wi-LAN for up to $19 million, of which $8.5 million was
paid to Alvarion at the closing.
Alvarion Ltd. (NASDAQ:ALVR) provides optimized wireless broadband
solutions addressing the connectivity, coverage and capacity challenges
of telecom operators, smart cities, security, and enterprise customers.
Our innovative solutions are based on multiple technologies across
licensed and unlicensed spectrums. (www.alvarion.com)
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on the curent
expectations or beliefs of Alvarion's management and are subject to
various factors and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements. The following factors, among others, could cause actual
results to differ materially from those described in the forward-looking
statements: our failure to fully implement our 2012 turnaround plan, our
inability to reallocate our resources and rationalize our business in a
more efficient manner, potential impact on our business of the current
global macro-economic uncertainties, the inability of our customers to
obtain credit to purchase our products as a result of global credit
market conditions, the failure to fund projects under the U.S. broadband
stimulus program, continued delays in 4G license allocation in certain
countries; the failure of the products for the 4G market to develop as
anticipated; our inability to capture market share in the expected
growth of the 4G market as anticipated, due to, among other things,
competitive reasons or failure to execute in our sales, marketing or
manufacturing objectives; the failure of our strategic initiatives to
enable us to more effectively capitalize on market opportunities as
anticipated; delays in the receipt of orders from customers and in the
delivery by us of such orders; our failure to fully and effectively
integrate the business and technology of Wavion Inc., acquired by us in
November 2011, into our products and realize the expected synergies from
the acquisition; the failure of the markets for our (including Wavion's)
products to grow as anticipated; our inability to further identify,
develop and achieve success for new products, services and technologies;
increased competition and its effect on pricing, spending, third-party
relationships and revenues; our inability to establish and maintain
relationships with commerce, advertising, marketing, and technology
providers; our inability to comply with covenants included in our
financing agreements; our inability to raise sufficient funds to
continue our operations, either through equity issuances or asset sales;
and other risks detailed from time to time in the Company's annual
reports on Form 20-F as well as in other filings with the U.S.
Securities and Exchange Commission.
Information set forth in this press release pertaining to third
parties has not been independently verified by Alvarion and is based
solely on publicly available information or on information provided to
Alvarion by such third parties for inclusion in this press release. The
web sites appearing in this press release are not and will not be
included or incorporated by reference in any filing made by Alvarion
with the U.S. Securities and Exchange Commission, which this press
release will be a part of.
To receive Alvarion's press releases please contact Sivan Farfuri, email@example.com
or +972.3.767.4333. Please see the Investor section of the Alvarion
website for more information: http://www.alvarion.com/investors.
Alvarion®, its logo and certain names, product and service names
referenced herein are either registered trademarks, trademarks, trade
names or service marks of Alvarion Ltd. in certain jurisdictions. All
other names are or may be the trademarks of their respective owners.
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