Filed by Speedcom Wireless Corporation
(formerly known as LTI Holdings, Inc.)
Pursuant to Rule 425 under the
Securities Act of 1933
Subject Company: Speedcom Wireless Corporation
(formerly known as LTI Holdings, Inc.)
Commission File No. 000-21061
333-43098
FOR IMMEDIATE RELEASE CONTACT: Jenna Norwood
September 27, 2000 (941) 358-9283
SPEEDCOM WIRELESS CORPORATION COMPLETES MERGER WITH LTI HOLDINGS, INC.
ATLANTA - SPEEDCOM Wireless Corporation (www.speedlan.com), a multi-national
wireless solutions company based in Sarasota, Florida, has closed its merger
with LTI Holdings, Inc. The company's ticker has changed from LAMT.OB to
SPWC.OB. After yesterday's unanimous approval by LTI's voting shareholders, the
companies filed articles of merger with the Florida and Delaware secretaries of
state and formally changed the company's name to Speedcom Wireless Corporation.
"SPEEDCOM's new public status provides an important first step toward enabling
us to execute our strategy of becoming a leading global wireless solution
provider," said Bruce Sanguinetti, SPEEDCOM's new president as of September 1.
"We intend to use this platform to expand our capabilities of providing
value-added solutions to our major ISP, telco and enterprise customers."
SPEEDCOM's Chairman, Michael McKinney agreed: "We are pleased to complete this
important step in our corporate development. We are now poised to accelerate our
rapid growth and further enhance shareholder value."
"The merger represents an excellent opportunity for our stockholders to
participate in a leading company in the exciting wireless broadband industry,"
said Michael Noonan, LTI Holdings' Chairman, President and Chief Executive
Officer.
SPEEDCOM Wireless Corporation is a seven-year-old multi-national company based
in Sarasota, Florida. SPEEDCOM also has offices in Miami, Dallas, San Diego,
Calgary, Alberta, Sao Paolo, Brazil, Mexico City, Singapore and Shanghai, China.
Through its Wave Wireless Networking division, SPEEDCOM manufactures a variety
of broadband wireless products, including its award-winning SPEEDLAN family of
wireless Ethernet bridges and routers. ISPs, Telco operators and private
organizations in more than 50 countries around the world use SPEEDCOM'S products
to provide "last-mile" wireless connectivity between multiple buildings at
speeds up to 100 Mbps and distances of more than 25 miles. Through its
InstallGuys wireless services division, SPEEDCOM provides complete wireless
installation services for ISPs, CLECs and other telco and networking companies
worldwide.
SPEEDCOM expects to announce its third quarter results on or about October 30,
2000. SPEEDCOM is an ISO 9001 Registered company. SPEEDCOM competes with other
wireless companies including Breezecom (NASDAQ: BRZE), Waverider (NASDAQ: WAVC),
Aironet (a division of Cisco (NASDAQ: CSCO)) and Orinoco (a division of Lucent
(NYSE: LU)).
LTI Holdings, formerly known as Laminating Technologies, Inc., had been a
developmental stage company supplying a technology to provide barrier
laminations in the manufacture of corrugated specialty packaging products. In
June 1999, the company sold all of its operating assets and ceased its
historical business. Since that time, the company has been seeking to maximize
its shareholders' value through a merger, acquisition or similar business
combination.
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Page Two
Additional Information and Where to Find It: LTI Holdings filed a Registration
Statement on Form S-4 with the Securities and Exchange Commission in connection
with the merger and mailed a proxy statement/prospectus to the stockholders of
LTI Holdings and SPEEDCOM containing important information about the merger.
Investors and security holders of both LTI Holdings and SPEEDCOM are advised to
read the Registration Statement and proxy statement/prospectus regarding the
merger carefully because it contains important information. Investors and
security holders may obtain free copies of these documents and other documents
filed by LTI Holdings at the Securities and Exchange Commission's web site at
http://www.sec.gov. The Registration Statement and proxy statement/ prospectus
may also be obtained from the surviving company by directing such requests to
SPEEDCOM.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
are forward looking statements subject to risks and uncertainties that could
cause actual results to differ materially from those set forth in the forward
looking statements, including risks set forth in the company's Securities and
Exchange Commission filings.
For More Information Contact:
SPEEDCOM Wireless Corporation
Jay O. Wright Bob Prag Jenna Norwood
Chief Financial Officer Investor Relations Public Relations Manager
Del Mar Consulting
941-358-9283 x360 858-794-9500 941-358-9283 x359
941-358-6208 fax 941-359-6782 fax
[email protected] [email protected] [email protected]
