SUNNYVALE, Calif. and SEOUL, South Korea, Jan. 20, 2016 /PRNewswire/ -- SOLiD Inc., a South Korean-based manufacturer of wireless equipment, has significantly extended its international presence by purchasing those assets of REACH Holdings related to REACH's role as SOLiD's exclusive North American partner. SOLiD is a fast-growing leader in densifying wireless networks through a portfolio of advanced RF Amplifier, RF Radio and Optical Transport solutions.
"This acquisition strengthens our position in North America, the largest market in the world for Distributed Antenna Systems (DAS) products, while also serving as the launchpad for our global growth strategy in wireless infrastructure," said Dr. Seung Hee Lee, CEO of SOLiD, which is publicly traded in Korea (050890:KS) and has more than 1,000 employees worldwide. "We look forward to bringing a broader product portfolio to our North American customers and working with them on next-generation densification and coverage enhancement solutions."
SOLiD's North American partner had successfully achieved a strong market position for the SOLiD brand in the cellular densification market, providing coverage and capacity solutions in hard-to-reach and high-demand locations. Now, as a regional division of SOLiD, its capability to grow and serve customers, and attain a deeper market penetration, is greatly enhanced.
"This deal is a tremendous win for our customers and partners. Among the benefits of being part of a larger global manufacturer is that we can offer a broader product portfolio and a competitive value proposition, expand our service and support capabilities, and explore more opportunities for collaboration and cross-pollination," said Ken Sandfeld, newly appointed president of SOLiD in North America. Sandfeld formerly was Executive Vice President overseeing sales, marketing and product strategy.
"Our team is in place," Sandfeld added. "The transition period will be seamless as customers and partners will continue to interact with their established and trusted counterparts and the business operations, relationships and lines of communication remain unchanged."
"As a customer already working closely with both SOLiD's U.S. and South Korean teams on a multi-year, large-scale installation, we are very excited at the potential upside of our partners consolidating as a global company. We're anticipating further benefits including additional resources, product breadth and expertise that will accrue on top of our already positive experience with SOLiD's team and products," said William A. Bayne Jr., CEO of Transit Wireless. Transit Wireless operates the wireless infrastructure throughout the New York City Subway, where SOLiD's robust DAS systems are being installed on hundreds of station platforms to enable cellular coverage and capacity.
The acquisition bolsters SOLiD's capabilities in its core DAS and optical fronthaul/backhaul markets. SOLiD's North American business unit now has direct access to the top-notch engineering and R&D department at SOLiD in Korea and can tap into battle-tested international expertise in leading-edge densification tools such as C-RAN and Optical LAN.
"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," Sandfeld said. "We will deliver a richer and more comprehensive experience to our customers and partners across our core business and the emerging middleprise market.
By acquiring its North American operations headquartered in Sunnyvale, Calif., SOLiD strengthens its presence and capabilities in a key geographic market and secures resources and talent to further its ongoing global expansion. SOLiD now has offices, facilities and affiliates in Shenzhen (China), Singapore, London, Jakarta, and Tokyo in addition to its headquarters in Seoul.
Financial terms of the transaction are undisclosed.
SOLiD (www.solid.com) helps people stay connected and safe in a rapidly changing world through a portfolio of RF Amplifier, RF Radio and Optical Transport solutions. SOLiD enables indoor and outdoor cellular and public-safety communications at some of the world's best-known and most challenging venues including leading hospitals; professional, and college sports venues; government, university and Fortune 500 corporate buildings and campuses; international airports and metropolitan subways; and other high-profile sites. For further information on SOLiD's full portfolio of wireless densification products including Distributed Antenna Systems (DAS), backhaul and fronthaul solutions, go to www.solid.com or call 888-409-9997.
About REACH Holdings
REACH Holdings (www.reachholdings.com) was founded in 2009 by DAS industry veterans Seth Buechley, Chip Laughton, and Bryan Kemper. REACH previously served as SOLiD's exclusive partner for the marketing, sales, distribution, and support of DAS products in the U.S. and Canada. The REACH principals are recognized DAS industry leaders with expertise in funding models, implementation, owner representation, in-building public safety radio systems, and system monitoring. For more information on the activities of REACH visit www.reachholdings.com or email firstname.lastname@example.org.
Mary Lou DiNardo /International and U.S. Queries
SOURCE SOLiD Inc.