Tests included:
- interconnection between remote private cloud networks hosting
Open RAN, 5G core
- speed and latency performance validation
- mobile edge computing, paving the way for critical 5G use cases
like network slicing
Airspan Networks Inc. (“Airspan”), which provides
ground-breaking, disruptive software and hardware for 5G network
solutions, has successfully completed a series of tests with
Hewlett Packard Enterprise (“HPE”) demonstrating the ability to
integrate end-to-end Open RAN architecture into HPE’s 5G Standalone
network core.
The companies validated successful interoperability for a full
5G end-to-end cloud native ecosystem through HPE 5G Core Stack and
Airspan gNB and tested speed and latency performance to validate
several use cases for public networks across Core, Edge and RAN,
paving the way for additional tests to include network slicing and
other critical 5G use cases.
“This successful series of tests with HPE is another example of
our focus on innovation and accelerating the development of
end-to-end Open RAN and 5G solutions,” said Eric Stonestrom, CEO of
Airspan. “This collaboration with HPE, a global leader in 5G Core
Networks and cloud solutions, is a great joint effort helping to
accelerate Open RAN adoption and enhance the ecosystem.”
“Openness, scalability and disaggregation are key to our
multi-vendor solutions strategy,” said Domenico Convertino, VP of
product management, HPE Communications Technology Group (CTG). “We
selected Airspan to integrate with our 5G Core Stack and Open RAN
stack solutions because they are proven leaders of Open RAN
solutions, and demonstrate the innovation, experience, and scale
that our customers expect.”
Accelerating Open RAN Adoption
With more than 1,000 customers in over 100 countries worldwide,
Airspan is at the forefront of 5G Open RAN hardware and software,
with increasing convergence between fixed broadband and mobile use
cases and operators. As 5G networks are rolled out, we believe
Airspan’s innovative Open RAN technology has significant potential
for growth serving incumbent and emerging carriers, as well as for
addressing new private 5G segments, including in-building 5G,
Distributed Antenna System (DAS) building replacements, connected
and autonomous vehicles (CAVs), automated port operations,
air-to-ground in-flight connectivity, Smart Industry 4.0 factories
and optimized Smart Grid driven utilities.
Airspan believes the key to deploying Open RAN at scale is the
ability to manage and orchestrate workloads across thousands of
edge sites, which is why it focuses on key innovations, including
intent-based orchestration and AI/ML based automation solutions.
These solutions are designed to allow telcos to manage thousands of
virtual machines (VMs), and hundreds of different virtual network
functions (VNFs) and containerized network functions (CNFs), across
the entire network.
About Airspan
Airspan is a US-based provider of ground-breaking, disruptive
software and hardware for 5G networks and a pioneer in end-to-end
Open RAN solutions interoperable with other vendors. As a result of
innovative technology and significant R&D investments to build
and expand 5G solutions portfolio, Airspan is well positioned with
Open RAN, private networks, fixed wireless access (FWA) and CBRS
solutions, providing solutions to tier 1 mobile network operators
to deploy their networks of the future, today. With over 1 million
cells shipped to 1,000 customers in more than 100 countries,
Airspan has global scale. For more information, visit
www.airspan.com.
In March 2021, Airspan entered into a business combination
agreement with New Beginnings Acquisition Corp. (“NBA”) (NYSE
American: NBA), pursuant to which Airspan will become a
wholly-owned subsidiary of NBA. The closing of the business
combination (the “Business Combination”) with NBA is subject to
customary closing conditions, including shareholder approvals and
the expiration or early termination of the applicable waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended. Upon closing, NBA will be renamed “Airspan
Networks Holdings Inc.” and its common stock is expected to be
listed on the NYSE American with the ticker symbol “MIMO.” See
www.nbaspac.com for more information.
About New Beginnings Acquisition Corp.
New Beginnings Acquisition Corp. (NYSE American: NBA), is
a blank check company formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses. NBA’s
business strategy is to identify and complete its initial business
combination with a company that can benefit from (i) the managerial
and operational experience of its management team, (ii) additional
capital and (iii) access to public securities markets.
Additional Information and Where to Find It
This news release does not contain all the information that
should be considered concerning the proposed Business Combination
and related transactions (the “Proposed Transaction”) and is not
intended to form the basis of any investment decision or any other
decision in respect of the Proposed Transaction. In connection with
the Business Combination, NBA has filed a registration on Form S-4
(the “Form S-4”) with the SEC, which includes a preliminary proxy
statement / prospectus with respect to certain matters upon which
NBA stockholders will be asked to vote. NBA’s stockholders and
other interested persons are advised to read, the preliminary proxy
statement / prospectus and, when available, the amendments thereto
and the proxy statement / prospectus and other documents filed in
connection with the Proposed Transaction, as these materials will
contain important information about Airspan, NBA and the Proposed
Transaction. When available, the definitive proxy statement /
prospectus and other relevant materials for the Proposed
Transaction will be mailed to stockholders of NBA as of a record
date to be established for voting on the Proposed Transaction.
Stockholders will also be able to obtain copies of the preliminary
proxy statement / prospectus, the definitive proxy statement /
prospectus and other documents filed with the SEC, without charge,
once available, at the SEC’s website at www.sec.gov, or by
directing a request to: New Beginnings Acquisition Corp., 800 1st
Street, Unit 1, Miami Beach, FL 33139, USA.
No Offer or Solicitation
This news release is for informational purposes only and is not
intended to and shall not constitute a proxy statement or the
solicitation of a proxy, consent or authorization with respect to
any securities or in respect of the Proposed Transaction and is not
intended to and shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy or subscribe for any securities or a solicitation of any vote
of approval, nor shall there be any sale, issuance or transfer of
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
Participants in Solicitation
NBA, Airspan and their respective directors and executive
officers may be deemed participants in the solicitation of proxies
from NBA’s stockholders with respect to the Proposed Transaction. A
list of the names of those directors and executive officers and a
description of their interests in NBA is contained in the
preliminary proxy statement / prospectus contained in the Form S-4.
Additional information regarding the interests of such
participants, which may, in some cases, be different than those of
NBA and Airspan’s equity holders generally, is also set forth in
the preliminary proxy statement / prospectus contained in the Form
S-4, and will also be included in the definitive proxy statement /
prospectus for the Business Combination when available.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, NBA’s plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as "will likely result," "are expected to," "will
continue," "is anticipated," "estimated," "believe," "intend,"
"plan," "projection," "outlook" or words of similar meaning. These
forward-looking statements include, but are not limited to,
statements regarding Airspan’s industry and markets for its
products, functionality of Airspan’s products and the likelihood
and ability of the parties to successfully consummate the Proposed
Transaction and the timing thereof. Such forward-looking statements
are based upon the current beliefs and expectations of NBA’s
management and are inherently subject to significant business,
economic and competitive uncertainties and contingencies, many of
which are difficult to predict and generally beyond NBA’s control.
Actual results and the timing of events may differ materially from
the results anticipated in these forward-looking statements.
In addition to factors previously disclosed in NBA’s reports
filed with the SEC and those identified elsewhere in this
communication, the following factors, among others, could cause
actual results and the timing of events to differ materially from
the anticipated results or other expectations expressed in the
forward-looking statements: (i) the risk that the proposed
transaction may not be completed in a timely manner or at all,
which may adversely affect the price of NBA’s securities; (ii) the
risk that the transaction may not be completed by NBA’s business
combination deadline and the potential failure to obtain an
extension of the Business Combination deadline if sought by NBA;
(iii) the failure to satisfy the conditions to the consummation of
the Proposed Transaction, including the adoption of the business
combination agreement by the stockholders of NBA and Airspan, the
satisfaction of the minimum trust account amount following
redemptions by NBA’s public stockholders and the receipt of certain
governmental and regulatory approvals; (iv) the lack of a third
party valuation in determining whether or not to pursue the
Proposed Transaction; (v) the occurrence of any event, change or
other circumstance that could give rise to the termination of the
business combination agreement; (vi) the impact of COVID-19 on
Airspan’s business and/or the ability of the parties to complete
the Proposed Transaction; (vii) the effect of the announcement or
pendency of the transaction on Airspan’s business relationships,
performance and business generally; (viii) risks that the proposed
transaction disrupts current plans and operations of Airspan; (ix)
the outcome of any legal proceedings that may be instituted against
Airspan or NBA related to the business combination agreement or the
Proposed Transaction; (x) the ability to maintain the listing of
NBA’s securities on the NYSE American; (xi) the price of NBA’s and
the post-combination company’s securities may be volatile due to a
variety of factors, including changes in the competitive and
regulated industries in which Airspan operates, variations in
performance across competitors, changes in laws and regulations
affecting Airspan’s business and changes in the combined capital
structure; (xii) the ability to implement business plans,
forecasts, and other expectations after the completion of the
Proposed Transaction, and identify and realize additional
opportunities; (xiii) the risk of downturns and the possibility of
rapid change in the highly competitive industry in which Airspan
operates; (xiv) the risk that Airspan and its current and future
collaborators are unable to successfully develop and commercialize
Airspan’s products or services, or experience significant delays in
doing so; (xv) the risk that the post-combination company may not
achieve or sustain profitability; (xvi) the risk that the
post-combination company will need to raise additional capital to
execute its business plan, which may not be available on acceptable
terms or at all; (xvii) the risk that the post-combination company
experiences difficulties in managing its growth and expanding
operations; (xviii) the risk that third-party suppliers and
manufacturers are not able to fully and timely meet their
obligations; (xix) the risk that the rollout and utilization of 5G
technology will not provide the expected benefits; (xx) the risk
that Airspan is unable to secure or protect its intellectual
property; and (xxi) the risk that the post-combination company’s
securities will not be approved for listing on the NYSE American or
if approved, maintain the listing.
Actual results, performance or achievements may differ
materially, and potentially adversely, from any projections and
forward-looking statements and the assumptions on which those
forward-looking statements are based. There can be no assurance
that the data contained herein is reflective of future performance
to any degree. You are cautioned not to place undue reliance on
forward-looking statements as a predictor of future performance as
projected financial information and other information are based on
estimates and assumptions that are inherently subject to various
significant risks, uncertainties and other factors, many of which
are beyond NBA’s control. All information set forth herein speaks
only as of the date hereof in the case of information about NBA and
Airspan or the date of such information in the case of information
from persons other than NBA or Airspan, and we disclaim any
intention or obligation to update any forward-looking statements as
a result of developments occurring after the date of this
communication. Forecasts and estimates regarding Airspan’s industry
and end markets are based on sources we believe to be reliable,
however there can be no assurance these forecasts and estimates
will prove accurate in whole or in part.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210526005650/en/
Investor Relations and Media Contact: Howie Waterman
917-359-5505 hwaterman@airspan.com
Media Contact: Paul Wakefield 011 +44 (0) 1895 467181
pwakefield@airspan.com
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