Motorola Computer Group (MCG) has completed the acquisition of Blue Wave Systems, a Texas-based company that has pioneered the development of high-end DSP hardware and software for telecommunications applications such as media and access gateways. In connection with this acquisition, each fully diluted share of Blue Wave common stock will be exchanged for 0.443 shares of Motorola common stock. Motorola will exchange approximately 7.25 million of its common shares for the fully diluted common shares of Blue Wave Systems.
Blue Wave Systems will operate as part of MCG's telecommunications business unit with major offices in Loughborough, England, and Carollton, Texas.
Rob Shaddock, previously CEO of Blue Wave Systems, will lead a new MCG application unit, which will focus on providing highly integrated platforms for packet voice and wireless applications.
John Hughes, vice president and director of the Motorola Computer Group telecommunications business, said, "We believe that the combined skills of Motorola Computer Group and Blue Wave Systems give us the powerful ability to offer OEM solutions for wireless and gateway applications and we plan to capitalise on this strategy.
Our plan to offer more complete solutions to our OEM customers will allow them to focus on adding value to their unique applications and getting products to market in as little time as possible".