<PAGE>
Exhibit 99.2
Contacts:
Rebecca Biggs Karen Novak Nancy Huber
Media Relations Media Relations CFO
408-542-5284 408-542-5282 408-542-5225
[email protected] [email protected] [email protected]
WESTERN MULTIPLEX AND ADAPTIVE BROADBAND TERMINATE THEIR MERGER PLANS
SUNNYVALE, Calif., --January 10, 2001 --Western Multiplex Corporation (Nasdaq:
WMUX), a leading provider of the industry's highest capacity fixed wireless
connectivity solutions, today announced the termination of its plans to acquire
Adaptive Broadband Corporation (Nasdaq: ADAP). Jonathan Zakin, Western
Multiplex Chairman and CEO today said: "After considering our alternatives and
holding further discussions with Adaptive Broadband regarding the merger, both
parties have determined that it is in their best interests to terminate the
merger agreement at this time."
Mr. Zakin added, "While we are disappointed that this deal did not work out,
Western Multiplex's principal wireless infrastructure segments - mobile,
wireless backhaul and campus connectivity-- remain strong, as does international
demand. We plan to continue to pursue acquisition and growth opportunities as
the wireless infrastructure space consolidates."
Western Multiplex expects to announce earnings for its fourth quarter and fiscal
year end after the market closes on January 23, 2001.
About Western Multiplex Corporation
Western Multiplex Corporation is a leader in broadband fixed-wireless
communication systems used by leading Internet Service Providers,
telecommunications carriers and corporations worldwide. The company's fixed-
wireless telco and IP based systems address the growing need of service
providers and end-users to rapidly and cost-
<PAGE>
effectively deploy high-speed communication networks for mobile communication
backhaul, fiber extension, multi-tenant/multi-dwelling unit Internet access,
enterprise, government and education campus connectivity and enable last mile
access. The company's website is: www.wmux.com. Western Multiplex Investor
------------
Information Service: 877-9WMUX-IR (877-996-8947)
Safe Harbor
This press release contains statements representing Western Multiplex's
expectations or beliefs concerning future events that are forward-looking
statements within the meaning of Section 21E of the Securities Exchange Act of
1934, which provides a safe-harbor for such statements. The forward-looking
statements contained in this press release include statements related to
increases in the demand for Western Multiplex's products and future growth
plans. The company's actual results could differ materially from management's
expectations for a variety of factors, including due to an unexpected decline in
demand for Western Multiplex's products, lower overall demand for wireless
infrastructure devices, competition from existing or new competitors or
increased costs and expenses. Western Multiplex cautions that these statements
are further qualified by other important factors, including, but not limited to,
the factors set forth in Western Multiplex's filings with the Securities and
Exchange commission, including Western Multiplex's Registration Statement on
Form S-4 filed on December 1, 2000, Western Multiplex's final Prospectus from
its initial public offering dated July 31, 2000 and its Quarterly Report on Form
10-Q for the quarter ended September 29, 2000. Western Multiplex does not
undertake any obligation to update this information and you should recognize
that this information is only accurate as of today's date.
# # # #
