Airvana Goes Private in $530M Deal

12/18/09

Chelmsford, MA-based Airvana (NASDAQ: AIRV), which makes femtocell equipment and other infrastructure for wireless operators, announced today that it’s departing the public markets and going private in a $530 million deal with a group of private-equity investors. Airvana will become a subsidiary of 72 Mobile Holdings, a new company owned by affiliates of S.A.C. Private Capital Group, LLC, GSO Capital Partners LP, Sankaty Advisors LLC and ZelnickMedia. The group’s purchase price of $7.65 per share in cash represents a 23 percent premium over Airvana’s closing share price on December 17, 2009. “As we transition to a private company, Airvana will continue to focus on its two major mobile broadband product lines, EV-DO software and femtocells,” said president and CEO Randy Battat, who, along with the company’s other co-founders, will receive equity interest in 72 Mobile Holdings in exchange for a portion of his shares.

Wade Roush is Chief Correspondent and Editor At Large at Xconomy. You can subscribe to his Google Group or e-mail him at wroush@xconomy.com. Follow @

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