Asia
Xavi Technologies Customer Enters Adminstration Proceedings in UK
Xavi Technologies (TPE:3447) said its customer Cambium Networks entered administration proceedings in the UK, with Airspan Networks to acquire its main products and operations, according to a Wednesday Taiwan exchange filing.XAVi had $4.8 million in accounts receivable from Cambium as of Sept. 23, equivalent to 4.8% of its consolidated total assets as of June 30. It also received about $5 million in advance payments from Cambium.XAVi said no loss is expected as Airspan will assume Cambium's debts and liabilities.
TPE:3447
