ip.access announces further funding round from Amadeus Capital Partners
Focus on global growth and product development for 2007
-/February 13, 2007 - Wi-Fi Technology News/- ip.access, the market leader in cellular picocell technologies announced a further funding round from Amadeus Capital Partners as well as their existing investors to fuel growth. Amadeus Capital Partners will work alongside ip.access’ management and the current VC team of Scottish Equity Partners, Rothschild & Cie Gestion, Intel Capital Corporation and Motorola Ventures to help the company grow its annual turnover from today’s $25m annual run-rate to the target of $100m+
Capital raised through this funding round will be used to accelerate the development of ip.access’ market-leading Oyster 3G consumer femtocell product. The investment is confirmation of the high level of confidence in the market potential for the Oyster 3G product. ip.access believes that 2007 will be a key year in the development of consumer femtocells and discussions are underway with operators around the world regarding integration of ip.access’ Oyster 3G into existing networks.
“We are pleased to be able to announce that Amadeus will be joining the ip.access board. They have an excellent track record of backing leading technology companies and their experience will be a great addition to our business and our top-tier advisory team.” said Stephen Mallinson, CEO of ip.access.
“We believe that the strength of the ip.access’ investment team is testament to the importance of the picocell and femtocell markets. From ip.access’ perspective, this funding round has built a firm foundation for the growth that we anticipate over the next 24 months."
Operator lab-trials of the Oyster 3G are currently being planned and the company is preparing for network operators to commence user trials in the middle of this year. Volume deployments of the product are expected to follow in early 2008. In addition, the company has recently concluded a major manufacturing deal with Taiwanese company USI and has forged relationships with distributors covering markets as diverse as Venezuela and the CIS. The industry is also recognising ip.access’ pre-eminence in the picocell sector with the company’s Oyster 3G product shortlisted in the GSM Association’s best radio access product category for the 2007 3GSM World Congress in Barcelona.
While the Oyster 3G represents a huge opportunity for the company, ip.access continues to invest in its already successful 2G and 2.5G nanoGSM business. The company intends to grow its market-leading presence in this sector by making picocell deployments even easier and more cost effective for operators through enabling simpler integration, management & support.
Andrea Traversone of Amadeus Capital Partners said: "We are excited about working together with ip.access. We recognise that every one of the world’s 3G operators that is serious about delivering high-speed data to customers will need to deploy a residential femto layer. ip.access was able to demonstrate to us that they have a solution that can be deployed in todays networks whilst also having a roadmap to IMS. ip.access already has a track record as a pioneer in bringing IP and cellular technologies together to deliver in-building cellular coverage with IP backhaul and it is in the unique position of having a thriving 2G/EDGE picocell business while also being at the forefront of the femtocell revolution. Finally, we are also very pleased to be co-investing with such a strong existing investment team including Scottish Equity Partners, Rothschild, Intel, and Motorola Ventures. Together we look forward to contributing to ip.access’ further success.”
About ip.access
Based in Cambridge, UK, ip.access ltd (
http://www.ipaccess.com) is a leading manufacturer of cost-effective picocell and femtocell infrastructure solutions for GSM, GPRS, EDGE and 3G. These solutions bring IP and cellular technologies together and solve in-building access problems for mobile operators, opening up new revenue streams while defending existing business.
Oyster 3G™ is the home access femtocell that dramatically increases 3G cell capacity and coverage; improves quality of experience; and drives down costs. Oyster 3G is ready for today’s mobile networks and tomorrow’s IMS infrastructure.
nanoGSM picocell provides GSM, GPRS and EDGE coverage and capacity for offices, shops and using satellite backhaul passenger aircraft, ships and in remote rural areas.
With over 18 live networks around the world and many more being deployed, ip.access is the partner of choice for operators competing in the new converged marketplace.
ip.access counts Scottish Equity Partners, Rothschild Gestion, Intel Capital, Motorola Ventures and Amadeus Capital Partners among its shareholders.
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