[May 13, 2013] Alvarion sells carrier licensed division to Telrad Tweet May 13, 2013 (TELECOMWORLDWIRE via COMTEX) -- Alvarion Ltd. (NASDAQ: ALVR) said it has completed the sale of its carrier licensed division to Telrad Networks. Under the terms, Alvarion will receive consideration of USD4m, paid in installments over four quarters, with the first payment of USD1.3m payable at closing. In addition, Alvarion may receive certain performance-based milestone payments of up to USD7.7m. The change in consideration from the originally-agreed consideration of USD6m plus up to USD6.1m in certain performance-based milestone payments, announced on February 21, 2013, resulted from a waiver of certain closing conditions in order to ensure and expedite the closing of the transaction. As part of the completion of the transaction, Alvarion and Telrad Networks have entered into a mutual reseller agreement according to which Alvarion will continue to provide carrier licensed solutions to its channel partners and distributors while Telrad will provide Alvarion's unlicensed solutions to its carrier customers. Alvarion provides optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of telecom operators, smart cities, security, and enterprise customers. The company's website is at www.alvarion.com. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]