HAUPPAUGE, N.Y. & ORLANDO, Fla.--(BUSINESS WIRE)--Personal Communications Devices, LLC (PCD), a leading provider of wireless devices to service providers in the Americas for more than 25 years, today announced that it has entered into an asset purchase agreement with Quality One Wireless, LLC (Q1W), a global leader in wireless distribution. The agreement constitutes an initial “stalking horse bid” by Q1W to acquire substantially all of the operating business assets of PCD through a sale under Section 363 of the U.S. Bankruptcy Code.
“The company is a natural extension of our core business, and will accelerate the product and market penetration strategies that benefit our global Telecom customers through improved performance and profitability.”
“This acquisition will bring together very complementary capabilities and distribution channels to dramatically increase the overall value add to device makers, telecom carriers, and retailers alike,” said George Appling, President and CEO of PCD. “We are confident that the transaction will result in substantial synergies while also expanding the customer base to include both the traditional Tier 1 carrier focus of PCD and the regional carrier and dealer focus of Quality One. Moreover, both companies have been aggressively growing their accessories and M2M businesses and that focus will continue.”
The completion of the transaction will bring together two wireless industry leaders that will provide carriers, OEM’s and other wireless technology partners with a rich array of distribution, go-to-market, and product life cycle solutions across the globe.
“PCD’s products and market segments are an ideal fit for our global distribution channels,” said John Chiorando, President and Chief Executive Officer of Q1W. “The company is a natural extension of our core business, and will accelerate the product and market penetration strategies that benefit our global Telecom customers through improved performance and profitability.”
To facilitate the sale and financial restructure, PCD has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Court in the Eastern District of New York. The bankruptcy filing does not include PCD’s foreign operations in Canada. PCD expects to continue all business operations without interruption during the sale process.
For additional information about PCD, please visit www.pcdphones.com. PCD is advised in this transaction by Richter Consulting Inc., BG Strategic Advisors, and Goodwin Procter LLP. Q1W is advised by Raymond James and Associates, Inc. and Munsch Hardt Kopf & Harr, P.C.
Built on a legacy of service and innovation, PCD is committed to bringing you the wireless world. A global gateway for its technology partners throughout the Americas, PCD provides both carriers and manufacturers a rich array of product life cycle management services that includes planning and development; inventory; technical testing; quality control; forward and reverse logistics; sell-in and sell-thru, marketing & warranty support. Its extensive portfolio of high-quality and versatile wireless devices includes feature phones, smartphones, tablets, mobile hotspots, modems, routers, fixed wireless, M2M, GPS, and other innovative wireless connectivity devices and accessories. PCD is based in Hauppauge, New York; and maintains operations facilities in Brea, California; and Toronto, CA.
Quality One Wireless is a leading global distributor of wireless handsets, accessories, and communication equipment throughout North America, South America, and the Caribbean, providing one-point product and device solutions. The company specializes in customized solutions that include refurbishing, repair, and distribution of wireless devices. Collaborating with industry partners, our team develops optimum mobility strategies to maximize benefits and minimize your risks. We ensure satisfaction through innovative products and superior services. Based in Orlando, Florida, Quality One Wireless offers complete solutions to wireless operators, MVNO’s, insurance providers, retailers, dealers, wholesalers, and e-commerce partners.