Press Release Summary: Reliance Technology Ventures Limited (RTVL), the corporate venture capital arm of the Reliance ADA Group, has directed the investment of an undisclosed amount in Sequans Communications (Sequans). RTVL is a wholly-owned subsidiary of Reliance Capital Ltd.
Press Release Body: Mumbai, India February 11th 2008
Reliance Technology Ventures Limited Directs Investment into Sequans Communications
Reliance Technology Ventures Limited (RTVL), the corporate venture capital arm of the Reliance ADA Group, has directed the investment of an undisclosed amount in Sequans Communications (Sequans). RTVL is a wholly-owned subsidiary of Reliance Capital Ltd.
1. Sequans Communications, a leading WiMAX semiconductor company, provides innovative system-on-chip (SoC) solutions for both fixed and Mobile WiMAX systems. The company offers chip solution for building wide range of WiMAX network components like femto, micro, and macro base stations, outdoor and indoor subscriber terminals, home gateways and all types of mobile devices.
2. Sequan's customers include Telsima, Alcatel-Lucent, Nortel, Redline, Airspan, Alvarion, Soma Networks, LG and Siemens.
3. Sequans is an exclusive provider of 4G mobile WiMAX chips to Sprint for its highly anticipated XOHM WiMAX network in USA.
4. Along with having the distinction of being the first to demonstrate Mobile WiMAX MIMO chip technology, SEQUANS has won multiple awards for its innovative SoC designs, including the best chip design award from WiMAX WORLD USA 2007 and the Red Herring 100 Global award for 2007.
5. RTVL joins SwissCom and CDC Enterprises as new Sequans investors. Existing investors include Alcatel Lucent, Motorola, Societe Generale Asset Management, Add Partners, Cap-Decisif, Kennet Venture Partners, Vision Capital and I-Source Gestion
According to Harshal Shah, CEO of RTVL, \"Sequans is the clear leader in the WiMAX SoC arena. The global WiMAX market is projected to be $2 billion by 2009 and Sequans is well positioned to take advantage of this opportunity through its high performance, yet extremely efficient chip technology for both base stations and subscriber stations."
Said Dr.Georges Karam, CEO of Sequans, "Sequan's objective is to be the dominant supplier of WiMAX chips. We have delivered six chips in three years with speed and accuracy, and we are proud of the clientele and investors who have put their trust in us. We are happy to have Reliance Technology Ventures as a key strategic investor. The Reliance ADA Group has aggressive plans in the communications sector and we see our new partnership with Reliance as the beginning of a fruitful association."
About Reliance Technology Ventures Limited
RTVL has advised and / or invested in deals to the tune of over $1 billion. Yatra.com, India's largest on-line travel portal, E-Band Communications Corporation, Stoke Inc, Seedfund are some of its portfolio investments. RTVL has also led the investment into an undisclosed technology company which formed the basis of the largest venture capital transaction in India. RTVL invests in leading edge technologies, disruptive business models and technology enabled companies around the world.
About SEQUANS
SEQUANS Communications is a leading supplier of subscriber station and base station chips for both fixed and mobile WiMAX, based on IEEE 802.16-2004 and 802.16e-2005 standards, Sequans offers equipment manufacturers an all-in-one solution with full MAC and PHY functionality, enabling them to build a wide range of high performing WiMAX network components: femto, pico, micro and multi-sector macro base stations, outdoor and indoor subscriber terminals, home gateways, and all types of mobile devices. www.sequans.com
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