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SR Telecom to expand market reach through proposed Netro purchase

News | 03/31/2003 5:00 am EST

Montreal-based SR Telecom Inc. has inked an agreement to purchase struggling U.S.-based wireless equipment maker Netro Corp. in a complicated stock deal that will see Netro shareholders own 43% of the combined entity. As part of the US$121-million deal, SR Telecom will gain control of the highly touted Angel product line as well as the AirStar line of fixed wireless access products. The acquisition is expected to close in early July 2003.

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