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WiMAX Spectrum Signal Processing

Vecima Completes Purchase of Spectrum Signal Processing

Other topics: WiMAX Digital Display, Mobile WiMAX Comparisons, Germany WiMAX Deployment

May 2, 2007

Victoria, British Columbia -- Vecima Networks Inc. (“Vecima”) is pleased to announce that it has completed the acquisition of all of the issued and outstanding common shares of Spectrum Signal Processing Inc. (“Spectrum”) for a total purchase price of approximately $18.3 million, made up of 820,000 Vecima shares and approximately $10.1 million in cash.
The statutory plan of arrangement (the “Arrangement”), announced on February 16, 2007, involving Spectrum, its shareholders and Vecima, was approved by the Supreme Court of British Columbia on April 27, 2007 and by the Committee on Foreign Investments in the United States (CFIUS) on April 26, 2007. More than 92% of Spectrum shareholders represented at its special meeting held on April 20, 2007 voted to approve the Arrangement.

“Spectrum’s shareholder vote clearly demonstrated strong support in favor of this Arrangement that fuses two powerful technological portfolios to enhance our position and opportunities in the emerging WiMAX market. The strategic fit of Spectrum’s compelling product portfolio focused at the commercial and defense broadband wireless markets advantageously positions Vecima to deliver the power and security of software-defined radio technologies to the commercial broadband wireless market,” stated Dr. Surinder Kumar, President and Chief Executive of Vecima. “In addition, the Arrangement allows us to bring Vecima’s portfolio of last-mile wireless solutions to Spectrum’s current market.”

Both Spectrum’s and Vecima’s product portfolios are powered at their core by field programmable gate array chips, digital signal processing chips, and general purpose processors running software tailored to broadband wireless communications.

In addition to the defense market, Vecima intends to target high growth commercial markets such as the public safety, homeland security, satellite communications, and broadband wireless markets which demand a configurable software radio solution to enable the various agencies to communicate in an interoperable manner.

“Vecima has a solid strategic plan to bring Spectrum’s financial results into alignment with our historical profit model in the near term by taking advantage of a single exchange listing and streamlining administrative expenses through economies of scale,” said Dr. Kumar. “We are pleased to see so many Spectrum shareholders elect to receive Vecima shares and look forward to building upon Vecima’s track record of 19 consecutive years of profitability.”

Vecima reiterates its expectation that the acquisition will be immediately accretive to revenues.

About Vecima Networks
Vecima Networks Inc. (TSX:VCM) designs, manufactures and sells products that enable broadband access to cable, wireless and telephony networks. Vecima's hardware products incorporate original embedded software to meet the complex requirements of next-generation, high-speed digital networks. Service providers use Vecima's solutions to deliver services to a converging worldwide broadband market, including what are commonly known as "triple play" (voice, video and data) and "quadruple play" (voice, video, data and wireless) services. Vecima's solutions allow service providers to rapidly and cost-effectively bridge the final network segment that connects the system directly to end users, commonly referred to as "the last mile", by overcoming the bottleneck resulting from insufficient carrying capacity in legacy, last mile infrastructures. Vecima's products are directed at three principal markets: Data over Cable, Broadband Wireless and Digital Video. The Company has also developed and continues to focus on developing products to address emerging markets such as Voice over Internet Protocol, fiber to the home and IP video. For more information on Vecima, please visit

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