Celcore completes private placement offering

Business Wire, Dec 15, 1995

MEMPHIS, Tenn.--(BUSINESS WIRE)--Dec. 15, 1995--Celcore officials announced that it has recently completed a private placement equity offering which raised $18.225 million.

Underwriters for the offering were Robertson Stephens & Company of San Francisco and Salomon Brothers Inc. of New York.

"This capital will fund our aggressive expansion of operations domestically and internationally as well as the development of new technology for the global GSM and PCS markets," said Robert Goodman, chairman and chief executive officer.

As part of its expansion plans, Celcore announced the opening of a sales office in Dallas last week. The new sales office will serve as the focal point of Celcore's sales activity to major cellular and PCS service providers in North America.

Based in Memphis, Tenn., Celcore Inc. develops and markets advanced wireless systems and intelligent networking solutions. With an open and distributed architecture, Celcore wireless systems are designed for scaleable and cost-effective deployment in low-traffic density areas around the world. In addition, Celcore's intelligent networking platform enables wireless service providers to offer one-number services for "Effortless, Anywhere Access."

Celcore's diverse population line includes its GlobalSystem portfolio of cellular, micro-cellular, fixed wireless, GSM, and PCS systems: GlobalSwitch(TM) family of fully digital and modular Mobile Switching Centers; GlobalCell(TM) base stations for both analog and digital air protocols; Network Management System with easy-to-use graphical user interface; and GlobalHub(TM) mobility manager for one number service.

CONTACT: Celcore Inc., Memphis

Steve Chen, 901/759-5155