CIRTEK Advanced Technologies and Solutions Inc. (CATS), the wireless broadband manufacturing unit of Cirtek Holdings Philippines Corp., has inked a multi-year deal with Quintel, a US-based maker of innovative base station antennas for wireless networks.
In a statement, CATS said it signed a manufacturing deal with Quintel worth $10 million to $20 million in the first 12 months, which “can double in the next two to three years.”
Under the agreement, CATS will supply Quintel with high quality micro and millimeter wave products which will allow the US-based company to build and increase capacity of seamless wireless networks for less cost.
CATS Executive Vice President Michael Liu earlier told The Manila Times of ongoing talks to close a deal with a US-based company in the same mobile data space.
“We are very proud to be chosen by another industry leader and one of the most experienced antenna companies in the world. It is a testament to our capabilities, reliability and expertise, and we look forward to contributing to the success of this partnership,” Alvin Guzon, CATS chief executive officer, said.
Quintel selected CATS from all the potential suppliers it considered. The CATS-Quintel deal will give the US-based firm the capability to expand its “volume production, at very competitive cost levels and most importantly with the high quality standards that Cirtek has set.”
Cirtek is eyeing to raise P2.4 billion from a follow-on offering of 120 million common shares, with 80 million shares as the base offer and a 40-million allotment for oversubscription. The price is set at P20 per share.
The offer period ran from October 23 to 30, and the shares will be to be listed on the PSE Main Board on November 5.