AirWalk Secures $8m In Private Equity Funding; TL Ventures and KGIF become newest investors to bring AirWalk's micro wireless base station system to market.Business Editors/High-Tech Writers RICHARDSON, Texas--(BUSINESS WIRE)--Dec. 15, 2003 AirWalk Communications Inc., a wireless CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. Radio Access Network (RAN) developer, has accepted $8 million in equity capital from TL Ventures and the Korean Global IT Fund (KGIF). The funds are targeted to expand the company's global reach and accelerate the deployment of its integrated, voice and data IP micro base stations for wireless operators and enterprises. Initially the company has concentrated on the Asian market where it has already secured major contracts with both Korean and Japanese operators. Airwalk's AW-32 allows cellular operators the ability to provide reliable, in-building or campus coverage on their licensed frequencies. While the traditional large coverage area cell-sites have satisfied the outdoor and mobile subscribers' needs, these subscribers are now demanding seamless coverage within buildings to support "in the office" cell phone usage. Worldwide, operators see this as an opportunity to capture increased minutes-of-use as well as enter the enterprise or hot spot market. Recent CDMA technology developments have enhanced this opportunity by offering faster wireless data rates - an area which will improve subscriber usage and enhance operator profitability. "We believe that reliable coverage and capacity of cellular networks will drive the next round of enterprise and campus networks for the licensed CDMA operators", said Eric Rothfus, Managing Director at TL Ventures and a member of AirWalk's board of directors. "AirWalk is well positioned to take advantage of this market with its unique IP micro base station and controller assembled as·sem·ble v. as·sem·bled, as·sem·bling, as·sem·bles v.tr. 1. To bring or call together into a group or whole: assembled the jury. 2. in one unit." "Our investment in AirWalk illustrates the tremendous potential for cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. radio access products in today's CDMA networks", commented Kevin Lim, managing director at STIC STIC Sciences et Technologies de l'information et de la Communication (French: Information and Communication Science and Technology) STIC Smalltalk Industry Council STIC Star Trek Italian Club STIC Science and Technology Information Center Ventures which runs the KGIF fund. "The team at AirWalk have assembled products that are ahead of the technology curve and are poised for growth in the next generation networks." Serge serge 1 n. A twilled cloth of worsted or worsted and wool, often used for suits. [Middle English sarge, from Old French, from Vulgar Latin *s Pequeux, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AirWalk said, "This investment allows us to accelerate our aggressive plan and to expand our reach in the enterprise space while increasing revenues for the wireless operators. The confidence shown by the investment community, especially in today's telecom environment, speaks volumes about the resurgence re·sur·gence n. 1. A continuing after interruption; a renewal. 2. A restoration to use, acceptance, activity, or vigor; a revival. of the wireless infrastructure market and our model for providing cost effective radio access alternatives." About AirWalk AirWalk Communications Inc. is a CDMA Radio Access Network developer addressing hotspots, blind spots and in-building/campus networks. For more information visit www.airwalkcom.com. About TL Ventures TL Ventures is investing its sixth venture fund since 1988. With over $1.4 billion under management. www.tlventures.com. About Korean Global IT Fund Korean Global IT Fund focuses on the IT sector and communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry investments managing over $100m through KDB KDB Korea Development Bank KDB Built-In Kernel Debugger (Linux) KDB Knowledge Data Base KDB Küche, Dusche, Bad (German: kitchen, shower, bath) KDB Kelvin Double Bridge KDB Kernel Debugger Capital, STIC Ventures and SFKT (Israel). |
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