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Norsat International has dissolved its acquisition of WiMax solution provider Bluemoon, Norsat announced Jan. 28.
The Bluemoon acquisition was part of Norsat’s strategy to enter the WiMax market and extend its reach in rural markets such as Africa and South East Asia.
We believe this acquisition is aligned with our strategic diversification into the commercial sector and will deliver long term growth and increase Norsat’s profitability,” Norsat CEO Aimee Chan said in a statement released after the acquisition was made.
The 5 million Norsat shares used in April to purchase Bluemoon have been returned to Norsat
The Bluemoon acquisition was part of Norsat’s strategy to enter the WiMax market and extend its reach in rural markets such as Africa and South East Asia.
We believe this acquisition is aligned with our strategic diversification into the commercial sector and will deliver long term growth and increase Norsat’s profitability,” Norsat CEO Aimee Chan said in a statement released after the acquisition was made.
The 5 million Norsat shares used in April to purchase Bluemoon have been returned to Norsat