Bizportal , a Israeli financial portal published that Axxcelera is also bidding for Airspan.
Axxcelera, a private company is operating in the same field as Airspan in both Licensed and Unlicensed bands.
According the Bizportal report:
- Current bid is for less than $10 Millions
- If Axxcelera wins the bid, the Israeli R&D site will be shut down, while the London R&D office will be integrated into Axxcelera.
- Around 80 employees are currently working at Airspan’s Israeli branch.
I ran the article through multiple translator systems and none of them translated the article that the current bid for the company was less than $10M. It didn’t say the current bid at all.
It would be difficult for me to believe that the company would sell for $10M when their assets are over $30M according to their last report. Perhaps if you heard it is $10M, maybe that is what the common shareholders would get which would be about .16. And then preferred holders would have another arrangement with the acquirer.
Thanks for your comment.
The source in Hebrew mentions that Gilat has negotiated the purchase, which rumored to be:
“מדובר בסכום חד-ספרתי של מיליוני דולרים”
Which literally translates to: “one digit of Million Dollars”. I preferred to translate it differently.
Indeed, the numbers mentioned before were different.
Avi
I think there is some confusion because the market cap is in the $4-$5 million dollars. Due to Airspan’s preferred shares, the market value is much higher than that. But if the author does not consider the preferred shareholder’s value, he could easily think that the sale price would be under $10M.
We will have to see… I somehow think that Ericsson will join this bidding party very soon. It was a nice find. Thank you.