LEUVEN, Belgium and DÜSSELDORF, Germany – 10 November 2010 – Huawei, a leader in providing next-generation telecommunications network solutions for operators around the world, and Option (Euronext: OPTI; OTC: OPNVY), the wireless technology company, today officially signed the agreement for the sale of M4S, Option’s wholly owned 4G RF (Radio Frequency) semiconductor company, to Huawei.
Under this agreement, and in line with the terms of the announcement made on October 27th 2010, Huawei will acquire 100% of M4S’ outstanding equity interests on a fully diluted basis. The transaction is part of the cooperation agreement announced last month by the two companies to facilitate the development of innovative mobile broadband solutions in Europe.
Jan Callewaert, CEO Option commented: ‘‘The signing of this agreement concludes the process of finding an industrial partner for M4S we initiated earlier this year. M4S will benefit from Huawei’s vast R&D capabilities and be in the optimal environment to lead the industry with the most innovative 4G chipset solutions. Option for its part remains very committed to bring its own new and innovative wireless broadband solutions to the market, including newer versions of USB wireless modems, embedded modules and software & services.’’
Guo Ping, Executive Vice President and Chairman of the board of Huawei Device, said: “The acquisition of M4S will enable Huawei to provide even more innovative mobile broadband devices, accelerate the commercialization of 4G services and support Europe’s Digital Agenda ambition. M4S is currently working on a state-of-the-art 4G radio frequency chipset and we believe M4S’ strength in the chipset field will further strengthen our network of skilled engineers, our R&D capabilities and our ability to deliver increased value to our customers.”
Pictures of Jan Callewaert, CEO Option and Guo Ping, Executive Vice President and Chairman of the Board of Huawei Device are available at:
https://www.option.com/en/newsroom/media-center/photo-gallery/#Corporate
MEDIA CONTACTS
Jan Poté
Option PR & Media Relations
j.pote@option.com
+32 475 92 55 82 begin_of_the_skype_highlighting +32 475 92 55 82 end_of_the_skype_highlighting
Yingying Li
Huawei Marketing & Communications Manager
yingyingli@huawei.com
+44 7920 870 500 begin_of_the_skype_highlighting +44 7920 870 500 end_of_the_skype_highlighting
Rory Macrae
GPlus Europe (on behalf of Huawei)
rorymacrae@gpluseurope.com
+32 477 439 279 begin_of_the_skype_highlighting +32 477 439 279 end_of_the_skype_highlighting