ArrayComm Gets Greenbacks
Last month the company lost its president and CEO, Sam Endy, to WiMax chipset hopeful TeleCIS Wireless Inc. (see ArrayComm CEO Jumps Ship). Despite his move, Endy says ArrayComm is in good shape for future growth.
“I felt very comfortable leaving ArrayComm as they have secured investment from one person, which will take them to the next level,” he tells Unstrung. “It’s a substantial amount of money.”
Founded in April 1992, ArrayComm is privately held and has secured more than $140 million in funding from the likes of American Century Ventures, Cornerstone Equity Investors, LLC, DDI, Marconi Corp. plc (Nasdaq: MRCIY; London: MONI), Nomura Holdings Inc., and Sony Corp. of America.
ArrayComm isn’t revealing specifics of the latest investment just yet. “Stay tuned,” quips director of marketing, Steven Glapa. “I can’t say, but we are feeling very good these days.”
Meanwhile, the company looks set to make a public entry into the WiMax market in the coming weeks, amid previous reports it has struck a partnership deal with market shaper Intel Corp. (Nasdaq: INTC) (see ArrayComm Preps WiMax Move). The company has to date kept its plans for the WiMax market largely under wraps, publicly focusing instead on licensing its iBurst Personal Broadband kit and smart antenna technology in GSM and wireless local loop networks (see ArrayComm's Japanese Burst, ArrayComm Bursts in UK and ArrayComm Touts Sydney Trial).
“We’ve got fantastic stuff happening from the perspective of both the structure of the company and the deals we are working and have worked,” adds Glapa. “We are getting the company back to its core business of putting its smart antenna technology into multiple wireless standards. At this point iBurst is our graduate student that’s finished his PhD. We are now helping our other children.”
— Justin Springham, Senior Editor, Europe, Unstrung