Redline Communications

Redline Communications

October 05, 2005 10:02 ET

Redline Announces Completion of 'U.S.' $15 Million Venture Financing

TORONTO, ONTARIO--(CCNMatthews - Oct. 5, 2005) -

RedMAX WiMAX-based wireless broadband products drive International growth;
financing to support continued product and market development activities

All figures in $U.S.

Redline Communications, a leading provider of standards-based broadband wireless equipment, today announced it has secured $15 million (U.S.) in venture financing. GF Private Equity Group, LLC, a U.S.-based venture capital firm, led the financing, joined by existing investors Matrix Partners and US Venture Partners. The funding will support the continued development of Redline's WiMAX™-based product family and sales and marketing efforts in International markets.

"Redline's solid growth and development plans have attracted new investors that recognize the potential of our WiMAX and proprietary technologies," said Majed Sifri, President and CEO, Redline Communications. "By focusing on delivering the most advanced wireless broadband products and establishing strong relationships with some of the top telecommunications service providers in the world, we continue to increase our value to our customers and our investors."

Redline is among the first wireless broadband equipment manufacturers in the world to develop, market and install networks based on the IEEE 802.16 standard, upon which WiMAX technologies are based. The company's RedMAX family of WiMAX products have been showcased in several live public demonstrations and are currently undergoing testing at Cetecom in Malaga, Spain, as part of the WiMAX Certification process.

"Redline has demonstrated its leadership in wireless broadband, particularly in the development of WiMAX-based technologies, "said Mahesh Vaidya, Vice President, GF Private Equity Group, LLC, and new member of Redline's Board of Directors. "Redline's product engineering capabilities, combined with its in-depth knowledge of the telecommunications and wireless markets have positioned the company for substantial growth."

This round of financing was advised on by Goodwin Proctor LLP of Boston, and Gowlings Lafleur Henderson of Toronto.

Redline's WiMAX-based products

Redline's WiMAX solutions are designed to operate in a wide range of network designs and deployments, including point-to-point and point-to-multipoint, in urban and rural geographies. The RedMAX carrier class Base Station (AN-100U) can transmit a variety of services, including video and voice over IP and prioritized data traffic to the RedMAX indoor and outdoor subscriber units, which feature the Intel® PRO/Wireless 5116 WiMAX modem silicon. Redline's RedMAX products can be easily integrated with existing networks, enabling operators to quickly and easily enhance their current service offerings and to build or expand wireless networks to reach more areas.

About Redline Communications

Redline Communications is a technology leader in the design and manufacture of standards-based broadband wireless access solutions. Using industry leading OFDM technologies, Redline's award-winning products provide unmatched high capacity and non-line-of-sight capabilities with proven performance, reliability and security. Ideal for a variety of access, backhaul and private network applications, Redline products meet the needs of carriers, service providers and enterprises worldwide. Redline is a principal member of the WiMAX Forum™, and was first in the world to market an 802.16 compliant product. Redline has over 15,000 installations in 75 countries across six continents through a global distribution network of 80+ partners. For more information, visit www.redlinecommunications.com.

NOTE: All registered and unregistered trademarks mentioned in this release are the property of their respective owners.

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