Le Lézard
Subject: Restructuring / Recapitalization

DragonWave Business Operations relaunch with Strategic Shift

OTTAWA, Aug. 21, 2018 (GLOBE NEWSWIRE) -- DragonWave-X today announced that following the Transform-X acquisition of renowned packet microwave radio manufacturer, DragonWave Inc., via receivership in the 4th quarter of 2017, the company has completed a significant restructuring of the rebranded company "DragonWave-X" in preparation for a full-scale business operations relaunch in the microwave backhaul radio market.

Significantly, in addition to the elimination of the legacy liabilities and debt, the restructuring included sizable reductions in redundant positions and the elimination of low-return subsidiaries and non-strategic offices located internationally. DragonWave-X will shift its headquarters to Dallas, Texas over the next several months, and the Company's primary internal sales focus will be on the Americas with global sales through our channel partners. Several new channel partners currently in negotiations will expand the distribution of best-in-class DragonWave-X radio equipment to growth regions beyond our sales reach and focus. In addition, the Company is planning its "Buy American Act" manufacturing model to serve key U.S. Government customers who require our supply and support from within the U.S. to meet their buying criteria.

"The corporate mandates of on-time delivery, value-based product pricing, and service excellence are part of our commitment to provide high-reliability, carrier grade, best-in-class radios; rapid response support; and personal service that have characterized the Company with our customers and partners," stated Mike Powell. Executive Vice-President, Strategy. "With the foundational restructuring complete and the ongoing effort to ensure that the quality of product, production, delivery and service is at the highest industry standard, the Company is ready to relaunch the delivery phase with a view to fill its back-orders and pipeline business during the coming weeks and months, while also bringing to market new, disruptive technologies within our product portfolio."

About DragonWave-X
DragonWave-X is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave-X's carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably.  The principal application of DragonWave-X's portfolio is wireless network backhaul, including a range of products ideally suited to support the emergence of underlying small cell networks. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. For more information, visit http://www.dragonwavex.com.

Media Contact:
Nadine Kittle
Marketing Communications
[email protected]
Tel: +1-613-599-9991 ext 2262

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