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January 2001
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White Electronic acquires Panelview Inc
Phoenix, Jan. 30, 2001--White Electronic Designs Corporation announced today that it has acquired Portland based Panelview Incorporated. Panelview is the recognized leader in optical enhancements of display products sold to the growing Kiosk, POS, GPS, transportation, medical and instrumentation markets.
White Electronic Designs has acquired all the outstanding stock of Panelview in exchange for 905,000 shares of common stock of White Electronic Designs. White Electronic Designs Corporation supplies the wired and wireless communications industry with niche semiconductor products that support network systems, switches, base stations, and other hardware platforms. Panelview will operate as a wholly owned subsidiary of White Electronic Designs Corporation. Commenting on the merger, Hamid Shokrgozar, Chairman & CEO of White Electronic Designs says "The combination of White Electronic Designs and Panelview will allow for increased expansion of their mutual product lines by combining each company's unique technologies."
Randal Barber, President and CEO of Panelview commented, "We are pleased to join forces with White Electronic Designs. This is an excellent fit from both a customer and technology perspective. Our complimentary product lines provide a complete array of display solutions to the marketplace."
Contact: White Electronic Designs Corp., Phoenix
Hamid Shokrgozar 602-437-1520
Email: hamid@whiteedc.com
Cameron Associates
New York Michael Brod 212-245-8800
Email: michael@cameronassoc.com
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