Multiband to purchase WPCS International for $22m

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Via News Release

Multiband Corporation (NASDAQ:MBND), a leading Home Service Provider (HSP) for DIRECTV and the nation’s largest DIRECTV Master System Operator (MSO) for Multiple Dwelling Units (MDU’s), today announced it has signed a non-binding letter of intent (LOI) to acquire WPCS International Incorporated (NASDAQ:WPCS), a leader in design-build engineering services for communications infrastructure based in Exton, Penn.

The acquisition, which will be subject to customary due diligence, negotiation of a definitive merger agreement and other conditions, including the approval of the shareholders of WPCS, is expected to close by the end of the third quarter of 2011. Multiband is offering $3.20 in cash per share ($22.25m) for WPCS shares.”

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