New 3G Amplifier Supply For Ericsson

US : Powerwave Technologies announced that is has signed a definitive agreement to acquire certain assets and liabilities of Ericsson Amplifier Technologies Inc., formerly MPD Technologies Inc.

The purchase includes certain assets and liabilities including real estate, inventories, capital equipment and warranty obligations. In addition, Powerwave will make offers of employment to a limited number of Ericsson employees in connection with this acquisition.

As part of its agreement, Powerwave will become a supplier of certain 2.1 GHz WCDMA (also known as "3G") amplifiers to Ericsson. Ericsson will also complete compliance testing of Powerwave's multi-carrier power amplifier products for use in Ericsson's GSM base stations.

"We are excited to announce this important relationship with Ericsson," stated Bruce C. Edwards, president and chief executive officer of Powerwave Technologies. "In addition to becoming a supplier of 2.1 GHz WCDMA amplifiers to Ericsson, we view this agreement as a corner stone to building a stronger relationship with Ericsson. We also see a strong benefit for our TDMA Network Operator customers as they migrate their networks to GSM technology."

The transaction, which is subject to the fulfillment of certain pre-conditions to closing, is expected to close within the second quarter ending June 29, 2003. The purchase price of the transaction is approximately $9.8 million and is being paid in cash by Powerwave.

About Powerwave Technologies

Powerwave Technologies, a TL 9000 and ISO 9001 quality certified company, is a leading supplier of high performance RF power amplifiers for use in wireless communications networks. Powerwave designs, manufactures and markets both single carrier and multi-carrier RF power amplifiers for use in cellular, PCS and 3G base stations throughout the world.

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