|
|
Sequans
Secures New Financing Of $28 Million
Other Topics: WiMAX
Planning and Optimization Solutions,
Vertical WiMAX Solution
Sequans Communications
February 11, 2008
Reliance Technology Ventures Limited and Swisscom among new backers
of leading WiMAX chipmaker
Paris, France & Cupertino, CA -- Sequans Communications, a leading
supplier of fixed and mobile WiMAX chips, has raised 28 million USD in a
new round of equity-based and convertible debt financing. Major telecom
operator Swisscom, and Reliance Technology Ventures Limited, the
corporate venture capital arm of Reliance ADA Group of India join
private equity firm CDC Enterprises, through the France investment
program, as new Sequans minority investors, and European investment bank
NATIXIS is the primary participant in the convertible debt financing.
|
| |
|
|
| |
“2008 will be a
pivotal year for the WiMAX industry and for Sequans as WiMAX networks
launch and multiply,” said Georges Karam, Sequans CEO. “We will use our
new funding to strengthen our foothold in the market, expand our
international customer support centers and launch our next wave of chips
in order to maintain our technology leadership. Our new investors are of
key strategic importance to us. Swisscom and Reliance bring us the
operator perspective on the deployment of WIMAX in Europe and Asia,
complementing the roles of our existing strategic investors, equipment
vendors Motorola and Alcatel-Lucent. We expect this financing will carry
us over until we are ready for an IPO.”
"Sequans’ leadership in WiMAX is no
accident,” said Nadia Sarri of CDC Enterprises. “They have executed
extremely well on an aggressive strategy and have excelled in both
product development and market penetration in one of the most promising
new markets. “We are very impressed with what Sequans has accomplished
in four years with relatively little capital.”
"Sequans’ technology will enable operators
to deliver valuable, yet low-cost WiMAX services in developing markets,”
said Harshal Shah, CEO of Reliance Technology Ventures Limited. “Sequans’
extremely efficient WiMAX chip solutions could be instrumental in making
the WiMAX promise a reality in developing markets like India.”
“We are thrilled to be contributing to the success of Sequans,” said
Jean-François Tiné, head of Equity Capital Markets at NATIXIS.
“Our sector experience in telecom and technology has allowed us to
identify Sequans’ huge potential. We are pleased to demonstrate our
confidence in the management of Sequans and its growth plan through this
new round of funding, which was specifically structured for Sequans by
our team.”
Over the last four years, Sequans has delivered base station and
subscriber station baseband chip solutions for fixed WiMAX and Mobile
WiMAX (both Wave 1 and 2) and an RF chip for Mobile WiMAX. Sequans’
chips are today embedded in the leading WiMAX networks and devices. |
|
|
| |
|
