Xircom Will Purchase Omnipoint Technologies

Xircom Inc. in Thousand Oaks, which makes circuitry to connect laptop computers to networks and cell phones, will buy Omnipoint Technologies Inc. from VoiceStream Wireless Corp. for $52.2 million in stock.

Xircom will give the Bellevue, Wash.-based VoiceStream 1.2 million shares in exchange for full ownership of Omnipoint.

The purchase price is valued on Xircom’s closing price on June 12. The transaction is expected to close by mid-July. The acquisition should add to Xircom’s earnings within two years, the company said.

Omnipoint makes cards that are installed in computers for communications uses. The company will help Xircom offer wireless data access from notebook and hand-held computers.

Xircom also said it will buy back as many as 1.5 million shares of common stock, contingent upon the Omnipoint purchase.

The repurchase is intended to offset the effect of more shares resulting from the Omnipoint purchase. It will be made over the next several months, Xircom said.