CHELMSFORD, Mass.--(Business Wire)--
Airvana, Inc. (NASDAQ: AIRV), a leading provider of mobile broadband network
infrastructure products, today commented on Nortel Networks Corporation`s (TSX:
NT) (OTC: NRTLQ) announced proposed "stalking horse" asset sale of Nortel`s CDMA
business to Nokia Siemens Networks B.V., a global wireless network
infrastructure provider.
"Nortel`s proposed sale of its CDMA business is positive news for Airvana and
for Nortel`s customers," said President and Chief Executive Officer Randy
Battat. "As a long-term partner and key supplier to Nortel, Airvana has played a
vital role in serving the needs of these customers during the bankruptcy
process."
"The sale to Nokia Siemens Networks would place Nortel`s CDMA business in the
hands of a global wireless infrastructure provider with outstanding customer
support capabilities," Battat said. "We expect to work in close partnership with
Nokia Siemens Networks in the years ahead, investing in our EV-DO roadmap,
supporting our product portfolio to fulfill customer needs, and continuing to
deliver current and planned products and services to existing Nortel customers
as well as new customers. We look forward to fulfilling the needs of wireless
operators worldwide under this new relationship."
Since Nortel`s Chapter 11 bankruptcy protection filing on January 14, 2009,
Airvana has been collecting receivables from Nortel in the ordinary course of
business related to products and services purchased subsequent to that date.
Collection of invoices totaling approximately $36.4 million for sales to Nortel
prior to the bankruptcy filing is subject to Nortel`s bankruptcy proceedings and
has been excluded from Airvana`s deferred revenue and Billings. This amount will
be accounted for on a cash basis, if and when received.
Airvana Second-Quarter 2009 Conference Call
Airvana expects to provide more specific information regarding its relationship
with Nortel during its second-quarter 2009 financial results conference call,
which is scheduled for Thursday, July 30, 2009 at 8:30 a.m. (ET). The call will
be webcast live and can be accessed by visiting Airvana`s website,
www.airvana.com. The live conference call can also be accessed by dialing (877)
407-5790 or (201) 689-8328. The webcast will be archived on the company`s
website.
About Airvana, Inc.
Airvana helps operators transform the mobile experience for users worldwide. The
company's high-performance technology and products, from comprehensive femtocell
solutions to core mobile network infrastructure, enable operators to deliver
compelling and consistent broadband services to mobile subscribers, wherever
they are. Airvana's products are deployed in over 70 commercial networks on six
continents. Airvana is headquartered in Chelmsford, Mass., USA, with offices
worldwide. For more information, please visit www.airvana.com.
Safe Harbor Statement
Any statements in this press release about future expectations, plans and
prospects for Airvana constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
typically contain the words "believes," "anticipates," "plans," "expects,"
"will," "continue" and similar expressions. Actual results may differ materially
from those indicated by such forward-looking statements as a result of various
important factors, including without limitation Nortel`s ability to complete the
sale of its CDMA business to Nokia Siemens Networks, Airvana`s ability to secure
court approval for payment of its outstanding invoices to Nortel, Airvana`s
ability to maintain its relationship with Nortel, Airvana`s ability to build a
strong working relationship with any purchaser of Nortel`s CDMA business, the
highly competitive and rapidly evolving market in which Airvana competes,
Airvana`s limited operating history, the fluctuation of its past operating
results and its reliance on sales through Nortel`s CDMA business for a
significant portion of its revenues and product and service Billings, and other
factors discussed in Airvana`s filings with the Securities and Exchange
Commission. In addition, the forward-looking statements included in this press
release represent Airvana`s views as of the date of this press release. Airvana
anticipates that subsequent events and developments may cause its views to
change. While Airvana may elect to update these forward-looking statements at
some point in the future, it specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as representing
Airvana`s views as of any date subsequent to the date of this press release.
Sharon Merrill Associates
David Reichman, 617-542-5300
AIRV@InvestorRelations.com
Copyright Business Wire 2009
