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News
Issue #2001 - 49
(December 2001)
(Updated Dec.
5, 2001)
ACQUISITIONS,
MERGERS & AGREEMENTS
LGC Wireless Secures Funding to
Drive Wireless In-Building Market
For the last four years, LGC Wireless has built a reputation on helping carriers expand their networks to meet the challenges posed by highly dense areas, from underground subways to concrete skyscrapers.
The San Jose, California, company said it recently received $19.3-million in venture capital funding from Allegis Capital, Crystal Internet Ventures, and OMERS.
It expects to raise an additional $10.7- million by the end of the year.
The new financing will fund expansion and operational costs as well as launch a new distributed wireless capacity product line, the company said.
"The in-building wireless market is becoming more and more important," said Philippe Bouissou, general partner of Allegis Capital. LGC Wireless is well positioned as the leader for the in-building wireless market as it expands into the dense metropolitan market, he added.
This injection of capital follows LGC Wireless' launch of its latest product, InterReach Unison, which is a flexible fiber optic wireless networking system designed to deliver high-quality PCS and cellular communications within any facility, including airports, subways, hotels, convention centers and shopping centers.
"As its name suggests, InterReach Unison was specifically designed to expand the reach of wireless inside buildings and to work in harmony with the public wireless
networks," said Enrique Cuellar, vice-president of marketing for LGC Wireless.
InterReach Unison joins LGC Wireless’ existing products LGCell
and Metro Reach Focus, which have been installed in a number of
notable facilities: The Venetian Hotel-Resort-Casino in Las Vegas;
Seattle’s Safeco Stadium; the Metro subway in Santiago, Chile, and
Malaysia’s Petronas Towers.
For more information: http://www.lgcwireless.com
Mobileinfo Comments & Advisory: In-building
wireless market was always important. LGC extends the capacity of
existing wireless networks in hot spots like airports, subways,
large hotels and convention centers. This is a good way of providing
superior coverage than would be possible through conventional
network design. We agree with the VCs that this is a good niche
market to pursue. LGC has proven itself in a few high-visibility
spots like Las Vegas and subways. Other competitive companies like Kaval
have approached the same problem through a slightly different
technology.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
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