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Exhibit 99.1
RADYNE COMSTREAM ACQUIRES ARMER
COMMUNICATIONS ENGINEERING SERVICES; SATELLITE SYSTEMS
INTEGRATION COMPANY ENHANCES CONTINUED WORLDWIDE GROWTH
PHOENIX, Dec. 13 /PRNewswire/ -- Radyne ComStream (Nasdaq: RADN - news, RADNW -
news) today announced the acquisition of Armer Communications Engineering
Services, Inc. ("ACES"), a private Arizona-based corporation that specializes in
innovative solutions for the integration and installation of turnkey satellite
communications systems. This acquisition will provide Radyne ComStream with a
broader ability to quickly integrate and install larger amounts of satellite
communications systems worldwide for Internet by Satellite services.
"The combination of ACES strong niche position supporting custom satellite
systems applications and installations with our worldwide sales pipeline further
establishes Radyne ComStream as a leader in the Internet by Satellite market
sector," said Bob Fitting, CEO of Radyne ComStream. "This acquisition
strengthens our goal to become the preeminent supplier of Internet by Satellite
systems and also compliments our growing presence in the Digital TV market."
The two companies have been business partners in various global projects for the
past six years. It is anticipated that the combination will allow ACES to
rapidly grow their business while providing yet another marketing channel for
Radyne ComStream products.
The acquisition was completed for an undisclosed amount of cash and stock. Armer
had unaudited revenues for the 10 months ended October 31, 2000 of approximately
$3 million.
About Radyne ComStream
Radyne ComStream designs, manufactures, and markets satellite
Internet-infrastructure equipment as well as satellite broadband modems,
multicasting receivers, converters and ancillary products for digital TV, data
and telephone service. The company has offices in the U.S. located in Phoenix,
San Diego and Boca Raton, and internationally in Singapore, Beijing, Jakarta and
London. The company also has sales and/or service centers in New York, Rio de
Janeiro, Bangalore, Shanghai and Moscow. For more information visit our web site
at www.radynecomstream.com.
Safe Harbor Paragraph for Forward-Looking Statements
This press release includes statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 (the "Reform Act") and Radyne ComStream claims the protection of the
safe-harbor for forward-looking statements contained in the Reform Act. These
forward-looking statements are often characterized by the terms "may,"
"believes," "projects," "expects," or "anticipates," and do not reflect
historical facts. Specific forward-looking statements contained in this press
release include, but are not limited to, expected benefits of the acquisition,
such as the expansion of the Company's capabilities and the potential for
increased growth worldwide and continued leadership in its markets.
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Forward-looking statements involve risks, uncertainties and other factors that
may cause actual results, performance or achievements of Radyne ComStream and
its subsidiaries to be materially different from those expressed or implied by
such forward-looking statements. Factors that could affect Radyne ComStream's
results and cause them to materially differ from those contained in the
forward-looking statements contained herein include, without limitation, the
possibility that the Company will not be able to successfully assimilate Armer
Communication Engineering Services or that such acquisition will not expand the
Company's capabilities in the satellite industry or provide the other benefits
anticipated. Other factors that may affect forward-looking statements and the
Company's business generally include but are not limited to:
- Prospects of the international markets and global economy given that Radyne
ComStream depends heavily on international sales.
- A downturn in the evolving telecommunications and Internet industries.
- Risk factors and cautionary statements made in Radyne ComStream's Annual
Report on Form 10-K for the period ending December 31, 1999 and its
Quarterly Report on Form 10-Q for the period ending September 30, 2000.
- Other factors that Radyne ComStream is currently unable to identify or
quantify, but may exist in the future.
Forward-looking statements speak only as of the date the statement was made.
Radyne ComStream does not undertake and specifically declines any obligation to
update any forward-looking statements.
