LGC Wireless Completes $13 Million Funding Round with Second Closing.SAN JOSE, Calif. -- LGC LGC Logistics (Contracting) LGC Local Government Commission LGC La Gloria Cubana (cigar) LGC Laboratory of the Government Chemist (UK) Wireless, Inc., a market leader in in-building wireless networking solutions, announced today it has completed the second close of its Series B-1 equity financing, netting another $2 million which brings the total raised in this round to $13 million. In addition to participation by several existing investors, the major new investor in the second close was GunnAllen Venture Partners. "The proliferation and breadth of wireless services attracted us to this space, and LGC's proven business model and market leadership confirmed that this was a late-stage opportunity we could not pass up," said Jon Goldberg, managing director of GunnAllen Venture Partners. The company plans to use the funds for general working capital and to continue its expansion of international sales activities. The round was led by Rembrandt Venture Partners, along with strong support from nearly all-existing investors. LGC Wireless, which was established in 1996, has raised $93 million to date. About LGC Wireless LGC Wireless is a leading supplier of products for optimizing the deployment of metropolitan cellular, 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. and 3G networks by providing mobile users with reliable in-building access to high quality voice and wireless data. LGC has shipped over 5,500 systems to more than 30 countries, and has provided wireless solutions in some of the world's landmark properties -- the Petronas Twin Towers The Petronas Twin Towers (also known as the Petronas Towers or Twin Towers), in Kuala Lumpur, Malaysia are the world's tallest twin buildings. They were the world's tallest buildings from 1998 to 2004 if measured from the level of the main entrance to the structural , the New York airports, the Mirage properties, the Torre Mayor building and the FCC headquarter building. LGC products support all wireless access standards including GSM/GPRS, iDEN, 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. 2000, WCDMA (Wideband CDMA) A 3G high-speed digital data service provided by cellular carriers that use the TDMA or GSM technology worldwide, including AT&T (formerly Cingular) and T-Mobile in the U.S. and WiFi 802.11. LGC Wireless is 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 and ISO 14001 certified, ensuring its quality management and environmental systems comply with rigorous international standards of excellence. About GunnAllen Venture Partners GunnAllen Venture Partners ("GAVP"), a leading late-stage venture capital firm, is a subsidiary of GunnAllen Holdings, Inc. ("GAH"). GAH is a holding company engaged in venture capital, investment banking, securities brokerage, securities trading, and money management activities through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. GunnAllen Financial, Inc. |
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