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Xircom Plans to Buy VoiceStream Unit
Posted: 14-Jun-2000 [Source: Reuters]

[Xircom hopes to leverage VoiceStream expertise to make its move into the wireless product space.]

Thousand Oaks, Calif -- "Communications equipment maker Xircom Inc. (XIRC.O) on Tuesday said it has agreed to acquire Omnipoint Technologies Inc., a unit of VoiceStream Wireless Corp. (VSTR.O), in exchange for stock valued at $52.2 million.

"Xircom also assumes liabilities valued at $8.3 million, and VoiceStream becomes a minority investor in Xircom with a seat on its board of directors.

"Xircom said it will take a one-time charge against its earnings of between $15 million and $25 million in the quarter ending June 30, to account for the deal. It expects the acquisition to close within three weeks and add to earnings in its second year of operations.

"The acquisition enhances Xircom's wireless communications product line by adding Wide Area Network (WAN), Global System for Mobile Communications (GSM), and General Packet Radio Service (GPRS) products and technology.

"Xircom said it will leverage Omnipoint's expertise to move into current and next generation wireless products.


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