FREEWAVE TECHNOLOGIES HAS distributed the third installment of a $9-million equity bonus to its employees. The bonus is part of a $113-million private-equity transaction. It was given by the company founders, CEO Steve Wulchin and CTO Jonathan Sawyer, to reward employees for the hard work and dedication that has helped Free- Wave become a leading supplier of high-performance spread-spectrum and licensed radio products and services.
According to Sawyer, "This bonus is a tribute to the great work all FreeWave employees do every day to build great products and deliver them to customers with the highest level of service. Our philosophy is simpleas the company prospers, so too 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 reliable, cost effective, and technically advanced to meet the growing need for remote wireless data transmission. The wireless-data radio provider continues to strengthen its position in the oil and gas, military, electric power, and water industries. Its success is based on two simple concepts: First, hire the best and the brightest. Second, listen to customers and deliver what they need.
"Having a common purpose and shared responsibility results in great business performance, satisfied customers, and a self-fulfilled workforce," says Wulchin. "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."
He continues, "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. 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."
"Our people work very, very hard," Wulchin notes. "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."