Willtek Communications launched after MBO at Acterna Wireless
16 July 2002 -- Willtek Communications today launched as a new company following a management buy out of Acterna's Wireless Instruments Operations (WIO).
16 July 2002 -- Willtek Communications today launched as a new company following a management buy out of Acterna's Wireless Instruments Operations (WIO). Willtek says it expects significant growth from its focus and expertise in terminal and air-interface testing equipment for 3G networks.
The new company is based in Ismaning near Munich, with two major support sites in London and Indianapolis (US). The main shareholder with 51 percent is Willtech Inc., a Korean engineering company, and strategic partner of the business since 1999. The management and employees of Willtek hold the remaining 49 per cent of company shares. Chief Executive Officer (CEO) is Cyrille Damany, former general manager of Acterna Wireless Networks Division.
Damany says, "We created Willtek Communications from Acterna's division to sharpen our strategic market focus. We are a flexible, mid-sized company, structured to deliver test solutions which contribute to our customers' business objectives."
The two companies will continue to work together closely in the future as a result of a distribution contract. The agreement allows Acterna to distribute certain products and Acterna's local service centres will continue to provide repair and calibrations services for Willtek's installed base of test equipment.
Willtek invests 20% of its revenue in research and development, with more than 70 engineers worldwide driving forward innovative solutions. The company expects leadership in the manufacture of terminal and air-interface testing equipment fit for the next generation of wireless networks (3G).