Press Release Thursday, September 4, 2007
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The innovative provider of next generation WiMAX radio infrastructure systems Radiocomp ApS has secured DKK 16 million in financing from leading Nordic technology venture capital firm Via Venture Partners. In return Via Venture Partners has become a minority shareholder of Radiocomp.
The injection of funds means that Radiocomp's product and systems development projects as well as the company’s drive towards global market penetration can advance at full speed. The funding also means that Radiocomp will be exceedingly well positioned to secure a significant share of the rapidly growing global market for remote radio heads & components. The demand for WiMAX remote radio heads in particular is expected to explode already in 2008-2009.
“The mobile industry is facing a paradigm shift in the way networks will be designed and deployed. Radiocomp’s remote radio head products address a global market expected to grow to more than a billion dollars in 2010, and we intend to take a significant share of this. We are delighted that Via Venture Partners shares our vision and our goal,” says CEO of Radiocomp, Thomas Noergaard.
“Radiocomp boasts a unique group of highly skilled and experienced radio frequency and optical engineers from the globally leading radio frequency environment in Denmark. The company has already shown commitment and ability to drive the WiMAX remote radio head paradigm shift and we are convinced they will continue to develop world class equipment and solutions for the WiMAX and UMTS industries,” says Jakob Rybak-Andersen from Via Venture Partners.
In the short term Radiocomp intends to strengthen and expand its knowledge base and workforce in the areas of sales, software development, marketing, production, and supply chain management. Radiocomp has already announced its first WiMAX radio head product and is working closely with industry-leading technology suppliers and mobile network solution providers for the delivery of systems and components for distributed base station systems.
For further information, please contact:
Thomas Noergaard, CEO, Radiocomp, +45 27 11 34 80
Jakob Rybak-Andersen, Via Venture Partners, +45 29 40 17 19
About Radiocomp:
Radiocomp is a leading provider of systems and components for next generation mobile and wireless networks. Radiocomp is the first company in the world dedicated to developing and manufacturing state-of-the-art, fully software-configurable remote radio head products and components for WiMAX and UMTS networks. Radiocomp is a privately owned limited company incorporated in Denmark. The company is headquartered north of Copenhagen in the city of Hillerød. (www.radiocomp.com)
About Via Venture Partners:
Via Venture Partners, established early 2006, is a multistage venture investor in the Nordic market to software and communication growth companies. With DKK 1 billion under management Via Venture Partners is one of the biggest Nordic players in the software/communication segment. The main part of Via Venture Partners Fund I K/S's DKK 1 billion in equity is contributed by ATP (Denmark’s largest pension scheme). (www.viaventurepartners.com)