Wireless Semiconductor Investment Opens up Global Opportunity in 5G and Smart City Infrastructure
TORTOLA, BVI / ACCESSWIRE / March 25, 2019 / Blockchain Holdings Ltd. (the "Company" or "Blockchain Holdings") (BCX.CN) is delighted to confirm the closing of Airbeam 60Ghz Holdings Ltd.'s ("Airbeam") acquisition of 5G-focused wireless technology from a major publicly listed U.S. semiconductor manufacturer.
Blockchain Holdings' involvement, announced on February 26, 2019, supports Airbeam as it invests in technology that contains the potential building blocks for a new generation of wireless network technologies that are designed to take advantage of existing and emerging high-speed data markets, including 5G, the future global telecommunication standard.
See Airbeam's release below for full details:
Airbeam 60Ghz Holdings Ltd. has closed its acquisition of cutting-edge 5G-focused wireless technology from a major publicly listed U.S. semiconductor manufacturer.
The deal opens up a global opportunity in 5G and IoT (internet of things) that will form the building blocks of the Smart City infrastructure.
5G, the next generation of cellular mobile communications, promises data speeds many times faster than the current 4G system, and could lead to lower costs, higher capacity and much greater device connectivity.
The Smart City initiative uses information and communication technologies to improve transportation, safety, energy use, as well as other infrastructure issues, for a better quality of life and greater competiveness. For instance, sensors on light poles can register a gunshot and send police to the scene even before a 911 call is made. Smart traffic lights can decrease travel times by adjusting to changing traffic patterns.
The asset purchase by privately held Airbeam 60Ghz Holdings (1165438 BC Ltd.) includes licenses to build the next-generation 60 Gigahertz ("60Ghz") products including WiGig and WiHD technologies. These new wireless solutions make high-speed connectivity to the internet possible without fiber optic cables.
Included in the purchase are millions of sale-ready chipsets ready to be shipped to customers, a backlog of orders to longstanding clients, and a roadmap offering rapid growth potential.
Airbeam will assume the contract manufacturer relationships and the associated manufacturing channels. Airbeam has already begun active sales discussions with a roster of international clients.
"We are thrilled to have completed this acquisition," says Airbeam Director Yan Zhang. "There has been a clear roadmap in place for this technology since day one, so we're excited to hit the ground running with sales across the globe."
In addition to supporting existing customers, Airbeam has started work on the next generation of products to propel the next phase of growth and power the Smart Cities of the future.
"The 5G revolution, which has been talked about for years now, is finally upon us and with its arrival, we're set to see an explosion in high-speed opportunities," added Zhang. "Put simply, 5G will change the way we consume data, and as the lynchpin of the systems that will deliver it, our entry into 60 Ghz space unlocks a global opportunity to capitalize on this rapidly expanding industry."
About Blockchain Holdings
Through the proprietary portal BCXdata.com, Blockchain Holdings provides investors and fund managers with unique insights into the growing ecosystem of crypto-assets. BCXdata.com captures and aggregates data from different blockchains for use and analysis with a clean and approachable API. With a portfolio of proprietary tools, Blockchain is giving users an institutional-grade analysis package that forms the basis for an extended suite of product offerings in the future.
AirBeam is a new company that is looking to unlock a worldwide opportunity in Smart Cities and 5G rollout. Based off of a production-ready modular chip design, AirBeam is a next generation wireless solution that is primed to take advantage of existing and emerging high speed data markets.
For further information, please contact:
Alan Tam, CFO
Wayne Lloyd, CEO
+1 604 220 2000
+1 604 377-7575
+1 604 629-9975
This news release contains forward-looking statements that are based on Blockchain's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans, completion of its investment in Airbeam 60Ghz, and the timing thereof, the completion of Airbeam 60Ghz's purchase of "Airbeam", including the timing thereof, the expected benefits from Airbeam, including with respect to revenue, growth, costs and markets, and the timing thereof, the potential for a new generation of wireless network technologies, the implementation of new applications and the development of new technologies and products. Although Blockchain believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteed of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and Blockchain undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Blockchain Holdings Ltd.
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