Ascend Technology Ventures Joins Witcom Wireless Telecommunications' Investment Group.Business Editors/Technology Writers TEL-AVIV, Israel--(BUSINESS WIRE)--June 2, 2000 Witcom Ltd., a designer, developer and manufacturer of radio-based digital networking solutions for the worldwide telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. market, today announced that Ascend Technology Ventures has joined Witcom's investment group and will be represented on their Board of Directors. Mr. Yosi Lahad, President and 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 Witcom, commented, "I am very pleased and honored hon·or n. 1. High respect, as that shown for special merit; esteem: the honor shown to a Nobel laureate. 2. a. Good name; reputation. b. that a prestigious venture capital fund such as Ascend Technology Ventures has decided to join our company and we welcome them. Ascend's general partners bring with them significant market experience and business networks." Ascend Technology Ventures is a venture capital fund intended for investments in high-growth companies. Ascend focuses on investing in firms developing breakthrough technologies in many fields including communications, internet and internet infrastructure. Ascend's Advisory Board and strategic partners include Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony and top-notch professionals from the international technology, financial, life sciences and Venture Capital arenas. Ascend's General Partners are Liora Lev lev-, pref See levo-. , who has over 20 years of experience in business management and finance of public and private companies, including those involved in the high-tech and capital market arenas, Moshe Bar-Niv who has held executive positions in global corporations such as Intel and Motorola in both Israel and the US, and brings with him over 20 years of experience in the high-tech community, and Avner Shelem who has been active in the high-tech marketplace for many years and has a wealth of international executive experience both in private and public firms in the US and in Israel. ABOUT WITCOM Witcom Ltd. designs, develops and manufactures radio based digital networking solutions for the worldwide telecommunications and data communications markets. Active since 1997, the company was conceived from a business strategy dedicated to developing superior technology resulting in a high performance radio at optimum cost. Witcom Ltd. is owned by an investment group comprised of: -- Ascend Technology Ventures. -- The ComSor Investment Fund -- an equity fund owned by Comverse Technology and the Soros Management Fund. -- Discount Investment Corporation -- a prestigious investment company with business in various industries including communications and high technology. -- Elron Electronic Industries -- a multi-national, high technology holding company. -- Dr. Viterbi -- co-founder of QUALCOMM, and member of Witcom advisory board. -- Rafael Development Corporation (RDC RDC Republique Democratique du Congo (French) RDC Rez de Chaussee (French: Ground Floor) RDC Red Deer College RDC Remote Desktop Connection (Microsoft) RDC Rowan Companies, Inc ) -- a high technology business development company partially owned by Discount Investment & Elron Electronic Industries. Witcom is an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified See certification. company. For more information, visit http://www.wit-com.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion