Existing Investors Team With McCaw for Broadband Wireless Market Expansion
Minneapolis, MN - July 22, 2003 -- NextNet Wireless, Inc. ("NextNet"), the industry's most widely deployed provider of non-line-of-sight (NLOS) broadband wireless access systems, announced today that it has raised an additional round of funding that will allow the company to expand its markets, deployments, and product offerings. COM Holdings, LLC, a private company controlled by Craig O. McCaw, led the round, with existing NextNet investors DCM-Doll Capital Management, Green Ventures, Globespan Capital Partners, Joseph Costello and others participating. Terms and size of the funding round were not disclosed.
Regarded as a pioneer and leader in the wireless communications industry, McCaw has been an active entrepreneur and investor for over 30 years. Through his private investment company, McCaw is a significant shareholder in Nextel Communications, Inc., ICO Global Communications (Holdings) Limited, and Nextel Partners, Inc. In addition, McCaw has made investments in various venture stage communications companies. McCaw previously served as Chairman and Chief Executive Officer of McCaw Cellular Communications, Inc., which he built into the nation's leading provider of cellular services in more than 100 U.S. cities, until the company was sold to AT&T Corporation in August 1994.
"NextNet provides a compelling solution for the growing demand for broadband communications. I am excited by the prospects, opportunities and challenges that lie ahead for NextNet," stated McCaw. "NextNet will be a leading player in the broadband wireless industry and we are pleased to publicly announce our investment in NextNet," McCaw added.
"It is a great honor for each and every member of the NextNet team to announce this round of funding. The addition of McCaw, a recognized industry leader, as an investor is an excellent endorsement of NextNet, our products, our technology, and our employees," stated NextNet President and CEO Guy J. Kelnhofer III. "On an equally important note, the broad participation of our existing investors in this funding round is another affirmation of our Company, our industry leadership, and the opportunities we are working to realize in the future," Kelnhofer added.
Kelnhofer went on to say, "We continue to diligently execute on our business plan with focused determination. We are thrilled with McCaw's participation, the additional funding round, and NextNet's future prospects."
NextNet's Expedience™ NLOS broadband wireless system is an IP-based network that supports delivery of all IP compatible broadband applications. These applications include the delivery of both voice and data services such as IP telephony and video streaming and conferencing. Expedience OFDM system products are available to address the needs of SOHO, SME, and MDU broadband markets.
The Expedience system is currently deployed in cities throughout Asia, Africa, North America, Latin America, Mexico and the Caribbean. NextNet provides wireless carriers with proven superiority in the critical areas of coverage, capacity and capital cost, allowing for rapid penetration into the untapped business and residential markets. The company's flexible OFDM-based platform delivers consistent broadband speeds across NLOS cell radiuses of up to 30 km, using indoor, plug-and-play (self-installable) subscriber units, as well as convenient outdoor (bracket-mount) NLOS subscriber units. The flexible Expedience base station weighs just 16 kg, and mounts easily to a pole, tower, building rooftop or standard indoor rack.
For more information on NextNet commercial installations in urban, suburban and rural locations, please contact sales@nextnetwireless.com
About NextNet™ Wireless, Inc.
NextNet Wireless is the industry's most widely deployed provider of non-line-of-sight (NLOS) plug-and-play broadband wireless access systems. NextNet's OFDM-based Expedience™ system provides telecommunications carriers with turnkey solutions for rapid, low-cost deployment of high-speed, two-way voice and data services over the "last mile" of the communications network. The Expedience system is deployed in over 20 markets globally, including the world's largest NLOS plug-and-play deployment in Mexico, covering 70 million potential business and residential subscribers nationwide.
NextNet is the recipient of seven industry technical awards for delivering NLOS service to under-served urban, suburban and rural markets. NextNet's primary investors include Craig O. McCaw, DCM-Doll Capital Management, Enterasys (NYSE: ETS) (formerly Cabletron Systems), Globespan Capital Partners, Star Ventures and others. Contact: Barbara Heine, Director, Marketing Communications; heineb@nextnetwireless.com; Tel: 952-967-1116; Fax: 952-929-4080 or visit www.nextnetwireless.com.
