Attached files
file | filename |
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8-K - AIRVANA, INC. - AIRVANA INC | b78526e8vk.htm |
EX-99.2 - EX-99.2 FREQUENTLY ASKED QUESTIONS - AIRVANA INC | b78526exv99w2.htm |
EX-99.1 - EX-99.1 PRESS RELEASE DATED DECEMBER 18, 2009 - AIRVANA INC | b78526exv99w1.htm |
EX-2.1 - EX-2.1 AGREEMENT AND PLAN OF MERGER, DATED DECEMBER 17, 2009 - AIRVANA INC | b78526exv2w1.htm |
Exhibit 99.3
E-MAIL FROM RANDY BATTAT, PRESIDENT AND CHIEF EXECUTIVE OFFICER
OF AIRVANA, INC. TO EMPLOYEES
OF AIRVANA, INC. TO EMPLOYEES
From: Randy Battat
Sent: Friday, December 18, 2009 9:15 AM
To: .All Employees
Subject: Airvana Merger
Sent: Friday, December 18, 2009 9:15 AM
To: .All Employees
Subject: Airvana Merger
By now, youve probably seen the announcement we made this morning that Airvana is being acquired
by an investment group for $7.65 per share in cash. Im attaching the press release below for your
reference. Im very excited about the opportunity this transaction presents to our shareholders,
and I wanted to share my thoughts on why I think this path is the right one for you and our
company.
Our business profile does not fit a public company model. Our EV-DO business is characterized by
a single major customer, accounting treatment that makes our financial results very hard to
understand, and presents risk related to the future technology transition to 4G. And our femtocell
work is more similar to a late-stage startup than a public company while theres lots of
promise, the track record of consistent results is yet to come. These factors have made, and I
believe will continue to make, it difficult for the public markets to understand our business. As
a result, being public has more costs than benefits, and I believe this transaction represents the
best reasonable alternative for our shareholders.
Im also excited to be working with our new investors. I used to work for Merle Gilmore, who will
be our new Chairman, when I was at Motorola. Merle has deep experience in wireless communications,
and he will contribute significantly to our strategic thinking and excellence in execution. Ive
gotten to know his associates pretty well over the last nine months, and Ive come to respect and
admire their integrity, intelligence, and competitiveness. The whole team is made up of bright,
aggressive people, and theyre as committed to our strategy as we are.
Sanjeev, Vedat, and I are all deeply committed to the path were taking. Each of us is investing a
significant portion of our Airvana equity in the new company because we believe in Airvanas
products and its employees. Whats in it for you? First, theres a short term cash benefit.
Every employee of Airvana has stock options, and all those options whether currently vested or
not will get cashed out at $7.65 per share. More important, theres the opportunity to continue
to build great products , to delight customers, and to continue participate in the financial
success of the company.
I look forward to joining you in experiencing the next part of our great ride.
Randy