Zeus Wireless acquired by Young Design, Inc.
Falls Church, Virginia and Columbia – Maryland May 7, 2001- Young Design, Inc. (YDI), a world leader in wireless data distribution systems, has acquired Zeus Wireless, Inc. (Zeus) of Columbia, Maryland. The terms of the transaction were not disclosed. Shares representing the majority of every class of equity of Zeus have been tendered, YDI has assumed control of Zeus’s Board of Directors, and YDI anticipates that Zeus will become a wholly owned subsidiary of YDI shortly. It is expected that Zeus will continue to operate as a separate entity.
Robert Fitzgerald, Chief Executive Officer of YDI, states, “We are extremely excited about bringing Zeus into the YDI family. Zeus has a highly trained staff and an extensive product line which boasts a world class list of customers and distributors. Zeus’s products enjoy a significant market share, and we look forward to aggressively pursuing these markets both through Zeus’s existing distribution channels as well as those of YDI. This is a great match!”
Adds Michael Young, President of YDI, “Zeus’s technology compliments YDI’s engineering resources very well. In addition to bolstering YDI’s knowledge base in digital processing, software and firmware development, Zeus brings extensive knowledge in the areas of frequency hopping spread spectrum (FHSS) and Bluetooth™ that YDI intends to utilize both with Zeus’s product line as well as new products in development at YDI.”
Randy Grigg, Managing Director with DecisionPoint International, served as an advisor to Zeus on the transaction.
YDI is a world leader in providing extended range products for license free wireless data delivery systems and is the largest manufacturer of 2.4 GHz amplifiers in the world. In addition, YDI is a leading designer of turn-key long distance wireless systems ranging from 19.9 kbps to 100 Mbps for applications such as wireless Internet, wireless video, wireless LANs, wireless WANs, wireless MANs and wireless virtual private networks. Additional information about YDI as well as its complete product line can be found at the Company’s website located at www.ydi.com.
Zeus Wireless, Inc. is a developer and manufacturer of 2.4 GHz transceivers providing mission critical wireless data connectivity. In addition to Zeus’s flagship product that utilizes FHSS technology, Zeus has invested substantial resources in the development of products based on the Bluetooth™ standards. Leading venture capital firms including ComVentures, Cresendo and Dynafund have invested over $18 million in Zeus to date. Zeus’s products are certified in 24 countries and over the last two years Zeus has shipped over 8,000 transceivers. Additional information about Zeus and its product line can be found at its website located at www.zeuswireless.com.