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American Capital Invests $56 Million in Buyout of Unwired Technology

Bethesda, MD - June 9, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $56 million in the buyout of Unwired Technology LLC, a leading designer, marketer and supplier of wireless headphones for automotive entertainment systems. American Capital's investment takes the form of a senior term loan, senior subordinated debt, junior subordinated debt and equity. American Capital is also providing a revolving credit facility and committing to a senior term loan. Unwired founder, President and CEO Lawrence Richenstein is rolling over a portion of his equity and will retain a significant ownership interest and continue to manage the Company. Post close, American Capital owns approximately 57% of Unwired on a fully diluted basis. More...

Unwired Plays Key Role in Mobile Entertainment

Unwired Technology LLC, headquartered in Plainview, NY, produces wireless headphones and components for automotive entertainment systems. The company was the first to adapt wireless headphone technology for in-vehicle use and the first to introduce two source headphone systems. Unwired continues to lead the market with new advances. As the technology leader, it owns a leading market share in both the automotive equipment manufacturers market and the aftermarket. More...