July 31, 2008
Beverly Hills, CA. – July 31, 2008 – OpenGate Capital, LLC announced today that they have closed the deal for OpenGate to acquire the Mobile Solutions Business Unit from UTStarcom. The acquisition has been rebranded as Star Solutions. The company is responsible for the development and sales and servicing of wireless IP-based products that connect cellular infrastructures to IP networks. Its operations extend globally, including Canada, the United States, India and China. Under the agreement, OpenGate Capital will acquire substantially all of the assets of Star Solutions. Jack Mar, an experienced leader in the telecommunications industry, will continue his role as president of the newly branded company.
About UTStarcom
UTStarcom is a global leader in IP-based, end-to-end networking solutions and international service and support. The company develops, manufactures, and markets its broadband, wireless, and terminal solutions to network operators in both emerging and established telecommunications markets worldwide.
