LOS ANGELES, Nov. 7 /PRNewswire/ -- Raytheon Commercial Ventures Inc.
(RCVI) announced today the completion of an agreement between Raytheon
Commercial Electronics (RCE) and Systemonic AG to collaborate on next
generation wireless communication solutions. The agreement gives Raytheon an
equity stake in Systemonic in exchange for key assets of RCE's wireless local
area network (LAN) group.
Advanced radio frequency (RF) technology and several wireless LAN products
will be integrated into Systemonic's product line, including a 5 GHz 2-chip
set, known as 802.11a in the wireless communications industry. The result: a
complete suite of high performance wireless connectivity products that powers
data, video and voice over wireless computer networks and multiple technology
standards at speeds up to 54 Mbps, the fastest in the industry. Systemonic
also gains access to Raytheon's world-class RF design, manufacturing and
supply chain capabilities. As part of the intellectual property exchange,
several Raytheon employees join Systemonic.
"This agreement furthers Raytheon's wireless LAN technology investment,"
said John Harbison, president of Raytheon Commercial Ventures Inc. "The
mission of RCVI is to find creative ways to leverage Raytheon's technology
leadership in commercial enterprises. In this case, we are collaborating with
a successful company targeting one of the hottest areas of high-tech.
Systemonic is already a leader in HiperLAN2 technology in Europe and with
Raytheon's deep expertise in RF we expect they will be a major player in the
wireless communications arena."
RCVI, based in Los Angeles, was established in February 2001 to identify
and implement opportunities to commercialize defense technologies within
Raytheon. RCVI is focused on pursuing business opportunities in wireless and
optical communications, space communications, network and communications
security, electronic components, automotive, computing and software, medical,
pharmaceutical and biotechnology, and biometrics.
Raytheon Commercial Electronics is a division of Raytheon Company.
With headquarters in Lexington, Mass., Raytheon Company (NYSE: RTN) is a
global technology leader in defense, government and commercial electronics,
and business and special mission aircraft.
Contact:
Amy Hosmer
781.860.2423
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Amy Hosmer of Raytheon, +1-781-860-2423
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