Iospan Wireless Raises $47 Million in Funding.Business Editors/High-Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Jan. 15, 2001 Iospan Wireless, Inc. (formerly known as Gigabit Wireless), the leader in fixed wireless broadband multiple antenna technology, today announced it has to date raised $47 million in Series C equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . Major new investors include Amerindo, Dain Rauscher Wessels, Deutsche Bank Alex Brown, Flextronics, J.P. Morgan, and Meritech Capital Partners, in addition to existing current equity holders Accel Venture Partners and U.S. Venture Partners. "We are extremely pleased to have the strong financial backing of such internationally respected institutional investors who believe in the enormous potential in broadband wireless," said Levent Gun, Iospan's president and chief executive officer. "By allowing wireless service providers to offer ubiquitous low-cost broadband access, Iospan's new AirBurst air·burst n. Explosion of a bomb or shell in the atmosphere. Noun 1. airburst - an explosion in the atmosphere blowup, detonation, explosion - a violent release of energy caused by a chemical or nuclear reaction technology will enable rapid growth in this emerging market." "We are very bullish on the broadband wireless market," said Mike Gordon, managing director for Meritech Capital Partners, the lead investor for this financing round. "Iospan has all the elements to make it a winner with a breakthrough technology, an experienced management team and a world-class engineering organization." Iospan's patented AirBurst(TM) system will be the first mass-deployable Broadband Wireless Access (BWA (Broadband Wireless Access) High-speed wireless access. Typically refers to wireless last mile access to the Internet. See WiMAX and broadband. ) solution to market incorporating patented Multiple-In, Multiple-Out (MIMO (Multiple Input/Multiple Output) Pronounced "my-mo," it is the use of multiple transmitters and receivers (multiple antennas) on wireless devices for improved performance. ) smart antenna and Space/Time Processing techniques. AirBurst is designed to allow service providers to quickly deploy broadband wireless services that will successfully compete with current broadband technologies on both price and performance. AirBurst includes all the characteristics necessary in a profitable next-generation BWA system: true Non-Line-of-Sight (NLOS NLOS Non-Line of Sight NLOS No Line of Sight (satellite TV) NLOS Near Line of Sight ) operation, easily installable and affordable CPE (Customer Premises Equipment) Communications equipment that resides on the customer's premises. CPE - Customer Premises Equipment , the least possible amount of infrastructure with maximum service coverage and access speeds that surpass today's broadband solutions. "We forecast the broadband wireless access market to actively compete with broadband cable and DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , but broadband wireless access systems must offer comparable performance and cost-efficiencies to the service provider as well as the end-user," stated Bettina Tratz-Ryan, senior analyst, Public Network Infrastructure Telecom for the Gartner Group. "Both groups expect a competitively priced and quickly deployable system, but they also want the high level of performance and reliability commonly associated with wireline broadband solutions. Vendors of wireless access technologies able to meet these goals will successfully enable the broadband wireless market." About Iospan Wireless Iospan Wireless, located in San Jose, is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. developing next-generation broadband wireless solutions. With its forthcoming AirBurst(TM) solution, Iospan Wireless will be bringing to market the first fixed wireless system incorporating advanced MIMO-OFDM MIMO-OFDM Multiple In, Multiple Out-Orthogonal Frequency Division Multiplex technologies. Core to these technologies are smart antenna and Space/Time processing techniques that enable high capacity, Non-Line-of-Sight operations in a scalable cellular architecture. Broadband wireless access systems using Iospan's MIMO-OFDM technology will ease installation and provisioning procedures, provide faster access speeds than current broadband solutions and provide ubiquitous service availability. For more information about Iospan Wireless visit the company web site at www.iospanwireless.com. |
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