Quality One Wireless acquires operating business assets of Personal Communications Devices
Oct 22, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
Quality One Wireless, LLC (Q1W), a wireless distribution company, has acquired substantially all of the operating business assets of Personal Communications Devices, LLC (PCD), a provider of wireless devices to service providers, for approximately $125 million. Both the companies are based in the US.
Announcement (August 19, 2013):
Q1W has entered into an asset purchase agreement to acquire substantially all of the operating business assets of PCD.
To facilitate the sale and financial restructure, PCD has filed a voluntary petition under Chapter 11 of the US Bankruptcy Court in the Eastern District of New York. The bankruptcy filing does not include PCD's foreign operations in Canada. PCD expects to continue all business operations without interruption during the sale process.
Richter Consulting Inc. and BG Strategic Advisors, LLC are acting as financial advisors, while Goodwin Procter LLP is acting as legal advisor to PCD.
Raymond James and Associates, Inc. and Stillwater Advisory Group LLC are acting as financial advisors, while Munsch Hardt Kopf & Harr, P.C is acting as legal advisor to Q1W.
Deal Value (US$ Million) 125
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Completed: 2013-10-21
Target (Company) Personal Communications Devices, LLC - Operating Business Assets - US
Acquirer (Company) Quality One Wireless, LLC
Vendor (Company) Personal Communications Devices, LLC
The acquisition will allow Q1W to accelerate the product and market penetration strategies.
The transaction will allow PCD to expand the customer base to include both the traditional Tier 1 carrier focus of PCD and the regional carrier and dealer focus of Q1W.
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