Ubiquisys Secures Strong Funding for its UMTS In-building Solution
7th February 2006
SWINDON, England – 7 February 2006 - Ubiquisys Ltd today announced it has secured major investment to further develop and commercialise the company's in-building convergence solution. The funding package is supported by leading technology investors Advent Venture Partners and Atlas Venture. Ubiquisys expects to raise further rounds of venture capital this year and is already receiving high levels of interest from additional investors.
"We are delighted to attract significant funding from such strong partners,” comments Ubiquisys CEO Len Schuch. “Major mobile operators tell us our solution confronts many of their concerns about in-building UMTS coverage and how to seize market share in the high-speed data space. Today’s announcement is an important step towards bringing a true convergence solution to market that addresses these challenges."
The Ubiquisys ZoneGate™ access point is a convergence device developed specifically for the residential and small office market. It has been designed to significantly enhance in-building UMTS coverage and performance. Unlike other wireless convergence products that use unlicensed WiFi or Bluetooth technologies, the ZoneGate solution is unique in using GSM and UMTS to communicate with a user’s mobile device.
“Atlas was attracted by the simplicity of a solution that could have considerable impact on the business models of UMTS operators,” explains Graham O'Keeffe, senior partner in the technology group at Atlas Ventures. "The early positive response from the operator community is extremely encouraging and we are delighted to play a role in bringing this solution to market."
"Fixed mobile convergence is high on the agenda for many technology investors right now,” comments Martin McNair, a specialist partner at London-based Advent Venture Partners. “Here, we are very excited about companies offering solutions which enable mobile operators to both broaden their service offerings and improve the quality of network coverage. UbiquiSys' technology is the first we've seen that really addresses the needs of the network operators and allows them to move into the residential market."
Ubiquisys develops convergence solutions that enable mobile operators to speed up and fully benefit from fixed mobile substitution. Its systems improve 2G and 3G coverage, reduce deployment costs, foster new revenue streams and drive a culture of usage for next generation services.
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About Advent Venture Partners
Advent Venture Partners, based in London, was founded in 1981 and is one of the most experienced technology venture capital firms in the U.K.
Since its inception, Advent has invested in more than 150 companies and focuses on two principle sectors: information and communications technology and life sciences. Advent invests in the UK and north western Europe and the life sciences team is also active in the US.
Now in its 25th year, Advent generally invests up to £8 million ($15m) per company and is focused on helping to develop growth stage businesses. Advent Venture Partners has funds under management of over £500 million ($950m).
About Atlas Venture
Atlas Venture is the leading international, early-stage venture capital firm investing in life sciences, communications and information technology companies. With offices in Boston, London, Menlo Park, Munich, Paris, and Seattle, Atlas Venture's investments are split between the US and Europe.
Founded in 1980, Atlas Venture has organised six international funds, and currently manages over $2.5 billion in committed capital, including a $967 million fund raised in April 2001. The Atlas Venture investment team is comprised of seasoned operating executives and career venture capitalists who have been deeply involved in the formation and development of more than 300 companies worldwide.
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Tel: +44 (0) 1453 861390