FreeWave Technologies Pays 34th Consecutive Bonus to Employees

Mon, 13 Feb 2012 16:09:53 +0000

Wireless company continues growth path and achieves significant milestones in 2011

BOULDER, Colo., Feb. 13, 2012 – FreeWave Technologies, (http://www.freewave.com), manufacturer of the most reliable, high-performance spread spectrum and licensed wireless data radios for critical data transmission, today announced it has paid its 34^th consecutive round of bonuses to its employees. The company has consistently distributed the semi-annual bonuses since July 1995 based on achieving certain financial goals and overall profitability.

Since its beginning, FreeWave has believed that hiring and retaining top talent is key to its overall success. It has an aggressive benefits program that includes a superior retirement plan, commitment to employees’ personal growth and a work culture that, while demanding, is highly rewarding. “Our employees are the reason that we can continue to invest in FreeWave’s growth and overall success,” noted Ashish Sharma, CMO of FreeWave Technologies. “Because of their contributions, FreeWave continues to receive accolades from industry sources and its customers.” In line with its continuing success, FreeWave achieved a number of significant accomplishments during the past 12 months, including:

Receiving industry recognition for several of its products, including Control Engineering Magazine’s Engineer’s Choice Award; Plant Engineering Magazine’s Finalist for Product of the Year Award; TMCNet’s Smart Grid Excellence Award; and, receiving company praise by the Communication Technology Professionals (CTP) Ascent Award.
Introducing the industry’s first wireless, battery-powered, submersible cathodic protection radio. A game changer in cathodic protection remote monitoring, not only does it help operators work toward regulatory compliance with monitoring, but is a step toward reaching active mitigation.
Continuing to expand – both in growing its employee base as well as geographically. In 2011, the company increased its staff by 24 percent spurred by growth in key markets.

“At FreeWave, every single employee knows it is his or her job to focus on the customer. Whether that is through the design of our radios to their manufacturing, testing or support, 100-plus percent commitment to customer satisfaction is engrained in our culture,” Sharma said. “By adhering to these high quality standards and rewarding our employees for going above and beyond in serving our customers, we have built a company that has withstood economic, industry and financial challenges where many others have failed. This achievement is a testament to our employees and we are grateful for their hard work and efforts.” About FreeWave Technologies Founded in 1993, FreeWave Technologies manufactures the most reliable, high performing, lowest power consumption, spread spectrum and licensed wireless data radios for mission-critical data transmission. Based in Boulder, Colorado, FreeWave designs and manufactures radios that are the leading choice for oil and gas, utility, military and numerous other industrial applications. Organizations that count on radio data communications for operational success – where failure and down-time are not an option – trust FreeWave for custom network design, system engineering and customer support that are unparalleled in the market. For additional information, contact FreeWave directly at 866.399.4930 or at newsinfo@freewave.com. Visit the company’s website at www.freewave.com or connect with the company via Twitter: @freewavetech.

###

Press & Analyst Contact: Christin Jeffers Catapult PR-IR 303-581-7760 ext. 19 cjeffers@catapultpr-ir.com

FREEWAVE TECHNOLOGIES’ FOUNDERS SHARE $9 MILLION WITH COMPANY EMPLOYEES

Tue, 17 Mar 2009 19:13:03 +0000

Employees help FreeWave achieve phenomenal performance and customer satisfaction - company founders maintain philosophy of sharing in financial success

BOULDER, Colo. - March 16, 2009 - As the drumbeat of bad economic news hits a fevered pitch, last Thursday afternoon, FreeWave Technologies (www.freewave.com) distributed the third installment of a $9 million equity bonus to its employees. The bonus, part of a $113 million private-equity transaction, was given by Company Founders Steve Wulchin and Jonathan Sawyer to reward employees for their hard work and dedication that has helped the company become the leading supplier of high-performance spread spectrum and licensed radio products and services.

"This bonus is a tribute to the great work all FreeWave employees do everyday to build great products and deliver them to customers with the highest level of service," said Co-founder and CTO Sawyer. "Our philosophy is simple - as the company prospers, so to should the employees that helped us get to where we are today."

As the industry's largest independent provider of spread spectrum and licensed radio products and services, FreeWave continues to build products that are more reliable, cost-effective and technically advanced to meet the growing need for remote wireless data transmission. The wireless data radio provider continues to build upon its leadership position in oil and gas; military; electric power; and, the water industries, to name a few. Its success is based on two simple concepts: First, hire the best and the brightest; and second, listen to your customers, deliver what they need.

"Having a common purpose and shared responsibility results in great business performance, satisfied customers and a self-fulfilled workforce," said Wulchin, the company's CEO. "Nine million dollars seems like a lot of money, and it is. Sharing in the success of the company has and always will be a cornerstone of how FreeWave builds it business.

"This bonus, of course, is very important. It does over-shadow some of the hallmarks of our philosophy for running the company successfully;" Wulchin continued. "FreeWave has never had a layoff and we are committed to avoiding ever having a layoff. We have paid bonuses every six months since hiring our first employees in 1995 - including as recently as January 2009. On average, the lowest the annual value this bonus has been for any employee over each of the last five years is more than $11,000," he added. "We feel that being profitable is more than a goal. It is critical to our customers and employees. Every month since we have had employees, we have been profitable.

"Finally, we view each of bonus programs in the same light. Our people work very, very hard," Wulchin noted. "These bonuses give them a chance to help define their own success along with the company's success. We know that they will continue to contribute at very high levels and we will commit to sharing the fruits of our joint success."

About FreeWave Technologies
Founded in 1993, FreeWave Technologies is a world leader in the innovative design and manufacture of license-free spread spectrum and licensed band radios and wireless data solutions that are trusted for mission critical applications around the world. Based in Boulder, Colorado, the company offers network design, path studies and pre-installation engineering services to enable reliable, error free data-flow in even the most challenging conditions and in environments. FreeWave is the only long term radio provider with in-family 100 percent backward compatibility with fully integrated, best-in-class engineered products. For additional information, contact FreeWave directly at 866.399.4930 or at newsinfo@freewave.com. Visit the company's website at www.freewave.com.
###
PR Contact:
Terri Douglas
Catapult PR-IR
303.581.7760, ext. 18 (office)
303.808.6820 (cell)
tdouglas@catapultpr-ir.com

Catapult Public Relations

FreeWave Technologies Pays 34th Consecutive Bonus to Employees

FREEWAVE TECHNOLOGIES’ FOUNDERS SHARE $9 MILLION WITH COMPANY EMPLOYEES