Ruckus Wireless Acquires Location Based Services Pioneer YFind Technologies
SUNNYVALE, CA — July 23, 2013 — Ruckus Wireless, Inc. (NYSE: RKUS) announced today that is has acquired privately-held YFind Technologies Private Limited, a pioneer in indoor positioning and real-time location analytics.
With this acquisition, Ruckus intends to enable new location-based services by combining its unique, Smart Wi-Fi technology with YFind’s range of location based services and analytical capabilities, transforming Ruckus Smart Wi-Fi networks into location-intelligent infrastructures.
These solutions will address new emerging opportunities among enterprises and service providers to offer value-added services to their customers.
Financial terms of the acquisition are not being disclosed.
This press release includes forward-looking statements that are subject to risks, uncertainties and other factors, including risks and uncertainties related to the ability of Ruckus to (i) successfully expand its business in location-based services, (ii) integrate the technology of YFind into products and services offered by Ruckus and (iii) sell such products to enterprise or service provider customers. The reader is cautioned not to rely on these forward-looking statements. These risks, uncertainties and other factors, and the general risks associated with the business of Ruckus, could cause actual results to differ materially from those referred to in the forward-looking statements. For a discussion of these and other risks and uncertainties, refer to Ruckus SEC filings. Ruckus does not assume any obligation to update any such forward-looking statements or other statements included in this press release.
About YFind Technologies
Headquartered in Singapore, YFind Technologies is an indoor positioning systems company that helps businesses analyze movement in any indoor or complex urban environment where GPS does not work. This is made possible by the company's unique YFind Positioning System™, which accurately locates individuals through the smartphone they carry. Founded in 2010, YFind's solutions are used in a range of environments including retail malls, airports, museums, hospitals and exhibition venues. By enabling location-aware services, YFind aims to make the world a more intelligent place, one building at a time.
About Ruckus Wireless
Headquartered in Sunnyvale, CA, Ruckus Wireless (NYSE: RKUS) is a global supplier of advanced wireless systems for the rapidly expanding mobile Internet infrastructure market. The company offers a wide range of indoor and outdoor "Smart Wi-Fi" products to mobile carriers, broadband service providers, and corporate enterprises, and has approximately 24,400 end-customers worldwide. Ruckus technology addresses Wi-Fi capacity and coverage challenges caused by the ever-increasing amount of traffic on wireless networks due to accelerated adoption of mobile devices such as smartphones and tablets. Ruckus invented and has patented state-of-the-art wireless voice, video, and data technology innovations, such as adaptive antenna arrays that extend signal range, increase client data rates, and avoid interference, ensuring consistent and reliable distribution of delay-sensitive multimedia content and services over standard 802.11 Wi-Fi. For more information, visit http://www.ruckuswireless.com.
Ruckus, and Ruckus Wireless are trademarks of Ruckus Wireless, Inc. in the United States and other countries. All other product or company names may be trademarks of their respective owners.