CDB Web Tech Joins As Strategic Investor For Foxcom Wireless.Business Editors & High Tech Writers LOD Lod (lōd), city (1994 pop. 51,200), central Israel. It is also known as Lydda. Its manufactures include paper products, chemicals, oil products, electronic equipment, processed food, and cigarettes. , Israel--(BUSINESS WIRE)--June 27, 2000 CDB CDB Common Database CDB Caribbean Development Bank CDB Convention sur la Diversité Biologique (Convention on Biological Diversity) CDB China Development Bank (Beijing, China) CDB Capital Development Board Web Tech, an Italian investment company with worldwide focus on communications technologies and Internet infrastructure/services joined Foxcom Wireless as a strategic investor. The Italian investor entered into the group of funds group of funds See family of funds. currently invested in Foxcom Wireless, a leading provider of indoor coverage solutions for the wireless industry. Foxcom Wireless' products make high quality cellular reception possible for subscribers in hundreds of structures worldwide. "This is an important partner for our organization," says Ofer Ronen, Foxcom Wireless President & 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. . "The CDB Web Tech organization is well connected throughout the cellular market, just as our customers are cellular and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. service providers." CDB Web Tech maintains widespread connections all over the cellular communications world and sees a great deal of potential in new technology developments in Israel, and applications for Foxcom Wireless' technology for Europe and throughout the world. "With the growth of the wireless industry and the expansion of various wireless data services, reliable seamless coverage is required in order to meet customers demands. Foxcom Wireless provides in-door solutions to meet these market needs," said Carlo Pirzio Biroli CEO, CDB Web Tech. CDB Web Tech is a publicly traded (CDB.MI -- Nuovo Mercato, Italy) investment company seeking to provide selective and exclusive access to the Silicon Valleys' of the world to institutional and retail investors in Italy and Europe. Foxcom Wireless' second equity round was led by AIG Orion a fund which is sponsored by AIG (American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc.), Microsoft Corporation, Comcast, 3Com Corporation and Global Crossing. Also participating in the funding were CDB, WEB Tech, Genesis (CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Oppenheimer), Apax Partners, STI STI systolic time intervals. Ventures and Unico. About Foxcom Wireless Foxcom Wireless designs, manufactures and markets fiberoptic RF communication solutions serving the wireless industry. Foxcom Wireless produces high performance, yet cost effective products that provide reliable RF distribution to hundreds of installations worldwide. The company's products enable reception of cellular services in tunnels, underground parking lots, office buildings and public buildings. The company has installations in buildings in Asia, Europe and North America, in subways in Berlin, Seoul and Istanbul and in tunnels and sites throughout Europe and the Far East. The array of investors includes also Israel Seed Partners, Eurofund and KTB. The company has over 70 employees and has offices in both USA and Israel. |
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