Radionet, Åkerströms Merge

Leading Finnish and Swedish WLAN providers join forces to establish Nordic's premier wireless broadband company

February 20, 2003

2 Min Read

ESPOO, Finland and BJÖRBO, Sweden -- The leading Finnish wireless outdoor broadband network provider Radionet has merged with the leading Swedish WLAN provider Åkerstöms NoWire AB. Through a share exchange Brainheart Capital, one of Europe's largest wireless sector venture capitalist companies and the owner of Åkerstöms NoWire, becomes a minority owner of Radionet.Radionet has developed a citywide total solution enabling wireless broadband access as an alternative to cable-based solutions. The solution also includes mobility inside the network, making it a competitive complement to today's mobile networks. Radionet citywide networks have already been installed in eight cities in Finland.Åkerströms NoWire AB designs, builds and delivers wireless broadband indoor and outdoor networks. Focusing on last-mile wireless broadband solutions and other complex WLAN applications, the company is one of Europe's largest distributors of Proxim/Orinoco's WLAN products.The Radionet - Åkerströms NoWire merger is the first step in the companies' joint internationalisation strategy, aimed first at the Nordics and adjacent regions. The Nordics are seen as one of the most advanced broadband regions in the world, and serve as a model for rest of Europe. At the end of last year, Radionet received an investment of three million euros from ACR Capital. Radionet has previously obtained financing from Concordia Capital, Servisen Private Equity and Estlander & Rönnlund Group."Merging with Åkerströms NoWire brings an important and exciting addition to our expertise. It provides us with a strong presence on the Swedish market, where both private and public sectors invest heavily in broadband connections. Åkerströms NoWire's experience in indoor WLAN networks and equipment expands our offering considerably", comments CEO Robert Serén, Radionet."Radionet's experience in planning and delivering broadband outdoor networks to cities is most valuable for us and our partners, as we are expanding our business beyond the 150 countryside networks we have delivered so far. Together we are able to enhance our delivery capacity of our comprehensive indoor and outdoor WLAN offering in this fast-growing market", says CEO Nils Masgård, Åkerströms Nowire.Radionet Ltd.Åkerströms Björbo AB

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