One of the basic concepts in data communication is the idea of allowing several transmitters to send information simultaneously over a single communication channel. This allows several users to share a bandwidth of frequencies. This concept is called multiplexing. CDMA employs spread-spectrum technology and a special coding scheme (where each transmitter is assigned a code) to allow multiple users to be multiplexed over the same physical channel.

3. Immunology Having several sites of attachment for an antibody or antigen.
4. Having various meanings or values: subtle, multivalent allegory.

http://www.thefreedictionary.com/valence

2. The number of binding sites of a molecule, such as an antibody or antigen.
3. The ability of a substance to interact with another or to produce an effect.
4. Psychology The degree of attraction or aversion that an individual feels toward a specific object or event.
5. Linguistics The number of arguments that a lexical item, especially a verb, can combine with to make a syntactically well-formed sentence, often along with a description of the categories of those constituents.