BLUE BELL, Pa., April 15, 2011 (GLOBE NEWSWIRE) -- UniTek Global Services, Inc. ("UniTek" or the "Company") (Nasdaq:UNTK), a premier provider of permanently outsourced infrastructure services to the wireless and wireline telecommunications, broadband cable and satellite television industries, today announced that it has closed its previously announced acquisition of Pinnacle Wireless, Inc. ("Pinnacle"), a two-way radio and wireless communications systems integrator specializing in large-scale communications projects for the transportation, public safety, entertainment, hospitality and enterprise-level commercial real estate industries.
UniTek expects this acquisition to give the Company access to new, increasingly technical segments of the market, including large-scale private sector and municipal projects involving in-building wireless networks, Land-Mobile Radio and interoperable multi-technology radio systems.
C. Scott Hisey, Chief Executive Officer of UniTek said, "Pinnacle has built a significant portfolio of high-profile projects in both the public and private sectors where we plan to leverage UniTek's platform and financial resources to accelerate this growth. Through our combined operations, we expect to capitalize on the substantial expansion opportunities within this sector. We look forward to working with the Pinnacle team."
About UniTek Global Services:
UniTek Global Services is a provider of engineering, construction management and installation fulfillment services to companies specializing in the telecommunications, broadband cable, wireless, two-way radio, transportation, public safety and satellite industries. UniTek has created a scalable operating platform, enabling each UniTek subsidiary to deliver quality services to its Fortune 200 customers. UniTek, based in Blue Bell, PA, utilizes a diverse workforce of over 5,400 deployed in over 106 locations in the United States and Canada. www.unitekgs.com
About Pinnacle Wireless:
Pinnacle, a two-way radio and wireless communications systems integrator, specializes in large-scale communications projects for transportation, public safety, entertainment, hospitality and enterprise-grade commercial real estate. As a vendor-neutral integrator, Pinnacle offers competitive solutions that exceed requirements and provide value for its clients and end users. Since its inception in 2001, Pinnacle has grown rapidly and built a reputation as the most sophisticated and largest specialty wireless systems integrator in the Northeast. For additional information visit .
Forward Looking Statements
The Company may from time to time make written or oral "Forward-looking statements", including statements contained in this release and in the Company's filings with the Securities and Exchange Commission. These forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, estimates, and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. These risks and uncertainties include the risk that the registration statement never becomes effective and we are not able to conduct any offering of securities in connections with the registration statement, as well as other risk factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The words "may", "could", "should", "would", "believe", "anticipate", "estimate", "expect", "intend", "plan", and similar expressions are intended to identify forward-looking statements. All such statements are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company does not undertake to update any forward looking statement, whether written or oral, which may be made from time to time by or on behalf of the Company, except as may be required by applicable law or regulations.
CONTACT: The Piacente Group, Inc. | Investor Relations Brandi Floberg | Lee Roth (212) 481-2050 unitek@tpg-ir.com