Nera Wba Satellite As News

Due diligence completed for the integration of Thrane & Thrane A/S and Nera ASA satellite activities and revised forecast for the current financial yearOn Monday, August 20, 2001 Thrane & Thrane A/S announced that it had signed an agreement with Nera ASA to acquire the shares in Nera’s wholly-owned subsidiaries Nera SatCom AS and Nera WBA Satellite AS. Since that announcement, Thrane & Thrane and Nera have worked on completing the integration of the two companies’ satellite activities. The companies’ efforts focused on conducting the due diligence process, which has now been completed to the satisfaction of both parties.After completing the due diligence process, the parties have agreed to change the contents of the agreement, and Thrane & Thrane and Nera therefore signed an agreement.

Danish satellite communication equipment maker Thrane & Thrane said on Monday it bought the satellite units of Norwegian Nera for around half a billion Danish crowns ($61.5 million), sending its shares to a four-month high. For the two units Nera SatCom and Nera WBA Satellite, Thrane & Thrane will pay 235 million crowns in cash and around three million new shares corresponding to around 40 percent of Thrane's total capital after a share capital increase. "The intention is to create a leading manufacturer within satellite ground equipment with the strength to participate in both the mobile and the broadband market segments," Thrane said in a statement.