Korean-based wireless equipment manufacturer SOLiD Inc. is aiming for global growth with the acquisition of REACH Holdings’ North American assets.
The acquisition of REACH, which has made a name for itself in the cellular densification market, will give SOLiD a firm foothold in a new geographic territory. SOLiD said the deal will also bolster its capabilities in its core DAS and optical fronthaul and backhaul markets while giving the new North American business access to SOLiD’s research and development expertise for densification tools like C-RAN and optical LAN.
The financial terms of the deal were not disclosed.
“This deal is a tremendous win for our customers and partners,” SOLiD North America’s newly appointed president Ken Sandfeld said. “Our toolbox and expertise level have instantly expanded, and we can better meet the challenges in our target markets of in-building and outdoor capacity and coverage. We will deliver a richer and more comprehensive experience to our customers and partners across our core business and the emerging middleprise market.”
During the transition period, Sandfeld said customers and partners will continue to interact with their accustomed counterparts. Business operations, relationships and avenues of communication between the company and its clients will also remain unchanged, he said.
Including its headquarters in Seoul, South Korea and the former REACH offices in Sunnyvale, Calif., SOLiD now has facilities and affiliates in Shenzhen, China, Singapore, London, Jakarta and Tokyo.