Press Release

Quality One Wireless (Q1W) Completes Purchase of Personal Communications Devices (PCD)

Oct 21, 2013

Quality One Wireless, LLC (Q1W), a global leader in wireless distribution, is pleased to announce it has completed the purchase of the assets of Personal Communications Devices, LLC (PCD), a leading source of wireless devices to service providers in the Americas. The purchase completes Q1W's previously announced "stalking horse bid" to acquire substantially all of the operating business assets of PCD through a sale under Section 363 of the U.S. Bankruptcy Code. The purchase price of the acquisition was in excess of $125 MM, and the companies will operate under the Quality One Wireless brand.

"PCD's products and market segments are an ideal fit for our global distribution channels," said John Chiorando, President and Chief Executive Officer of Q1W. "Acquiring PCD allowed a natural extension of our core business, and will accelerate the product and market penetration strategies that benefit our global Telecom customers. In addition to purchasing certain assets of the company, Q1W retained over 120 well-trained and dedicated employees to complement its existing employee infrastructure."

The completion of the transaction unites two wireless industry leaders to provide carriers, OEM's and other wireless technology partners with a rich array of distribution, go-to-market, and product life cycle solutions across the globe.

"This acquisition brings together very complementary capabilities and distribution channels to dramatically increase the overall value add to device makers, telecom carriers, and retailers alike," said George Appling, President and CEO of PCD. "We are confident that it will result in an expanded customer base to include both the traditional Tier 1 carrier focus of PCD and the regional carrier and dealer focus of Quality One. Moreover, both companies have been aggressively growing their accessories and M2M businesses and that focus will continue."

For additional information about PCD, please visit www.pcdphones.com. Q1W was advised by Raymond James and Associates, Inc.; Munsch Hardt Kopf & Harr, P.C.; and Stillwater Advisory Group LLC. PCD was advised in this transaction by Richter Consulting Inc., BG Strategic Advisors, and Goodwin Procter LLP.