mARCH 2012
www.lawyer-monthly.com DEAL REPORT
CAMBRIDGE COMMUNICATION SYSTEMS RAISES £1.3M IN SEED FUNDING
Cambridge Communication Systems Limited (CCS) today announced that it has raised over £1M of investment to fund early stage deployments of its unique small-cell microwave backhaul system. The funding round was led by Cambridge Angels Founder Robert Sansom, who will become Chairman of CCS, and is backed by Cambridge Wireless Chairman David Cleevely as well as Imperial Innovations, Cambridge Angels and Cambridge Capital Group. CCS is developing a low cost, high performance solution to the problem of backhaul
in small-cell mobile communications networks. Small-cell networks are accepted as the only realistic solution to the pressing data capacity problem in mobile communications, but as yet no credible solution for backhaul – the transfer of data between these networks and the core infrastructure – has been developed. CCS’s technology is a unique self-organizing, self-optimizing multipoint-to-multipoint microwave communications system which operates in cheap and plentiful licensed spectrum. It is easy to deploy and maintain, has a small physical footprint, and can be rapidly scaled. Steve Greaves, Chief Executive Officer of Cambridge Communication Systems Ltd, also commented: “We are very pleased to welcome our new investors to this exciting venture and
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are particularly pleased to welcome Robert Sansom as our Chairman. Our unique solution to the problem of cost effective small-cell backhaul has generated a great deal of interest and support from key operators within the mobile industry. This round of investment allows us to complete the development of our system and move forward to early-stage trials.” LM
DEAL REPORT
STAGE 2 NETWORKS ACQUIRED THE VOIP BUSINESS OF CONSOLIDATED TECHNOLOGIES
Stage 2 Networks, a cloud communications leader in the New York metropolitan area with a portfolio of hosted voice and data services, today announced that it has acquired the hosted VoIP business division of Consolidated Technologies, Inc. (CTI), a converged technologies company and Avaya gold partner. The acquisition allows for both companies to focus on their core areas of strength with Stage 2 Networks expanding its hosted VoIP enterprise and CTI strengthening its system integration business. “We are excited to announce a deal that furthers our mission to become New York’s leading
cloud communications provider. This is a perfect opportunity for both companies to grow our organizations and concentrate on our primary services,” said Joseph P. Gillette, CEO of Stage 2 Networks and a founding member of the Cloud Communications Alliance. “By acquiring the hosted VoIP division of CTI, we have expanded our market-leading footprint while becoming stronger as a company, both operationally and financially.” “CTI has enjoyed significant growth in the enterprise communications market and we are
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putting considerable investment into our market leading practice of implementing Avaya solutions for these large customers,” said David Blau, founding Partner and Chief Strategy Officer of Consolidated Technologies, Inc. “Our Avaya partnership is growing so quickly that it made sense for us to exit the hosted VoIP space and renew our focus on this accelerated business expansion.” LM
Arnie Herz, Esq. 14 Vanderventer Ave., Ste. 255, Port Washington, NY 11050, 516-767-0800
Blog: Legal Sanity
http://www.legalsanity.com/ Profile: LinkedIn
http://www.linkedin.com/in/arnieherz
Practice Area: Business and Trademark Law; Negotiation and mediation Services; Blogger; Professional Speaking
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