3GSM to Wireless LAN Integrator Transat Funded by Acorn Campus, Bay Partners, Genesis Campus and Intel
SOUTHLAKE, Texas--(BUSINESS WIRE)--May 6, 2002--Transat Technologies, which provides software to integrate WLANs with GSM networks and 3G networks, has completed a $6 million Series A investment funding round.
The round was led by Bay Partners, the other investors being Acorn Campus, Genesis Campus and Intel Capital.
Transat's software enables customers to use laptops and PDAs on Wireless LAN networks in hotels, airports and other hot-spots and be billed from their cellular account. It uses a "SIM" smart card, authenticated directly from a GSM or 3G network, to integrate Wireless LAN and cellular networks and provide seamless inter-network and international roaming for high-speed data users.
Transat, now 25-strong, has been working for over two years in this field. "We correctly anticipated the need for broadband access for mobile customers as a stepping stone to 3G type services," according to Transat CEO, John Baker. "It has been exciting to see our early vision strike a chord in the market last year, and now to be generating clear market interest and receive funding from recognized investors."
According to Chris Noble, partner in Bay Partners, "Transat is well positioned in a rapidly expanding market sector. They have the right product."
Roman Kikta, lead partner in Genesis Campus, said, "We see Wireless LAN as a major opportunity for wireless carriers, and are delighted to have found a company with Transat's credentials and management experience in network design and engineering."
"Intel Capital invests to help accelerate deployment of public and private wireless LAN infrastructure," said Shane Wall, director, Emerging Platforms, Intel Labs. "Software that bridges heterogeneous networks, like Transat's, will help increase and improve connectivity for PC and PDA users."
About Transat Technologies
Transat integrates WLAN and GSM systems using open standard technology without modifying the core network. With Transat, GSM operators can provide high speed Internet access via their own wireless LAN networks or those of third parties. WLAN operators now interconnect with the worldwide GSM subscriber base. Whether for public access or private networks, Transat's uncomplicated approach liberates network design. Transat is headquartered in Southlake, Texas, USA. For more information, please visit (http://www.transat-tech.com).
About Acorn Campus
Led by a successful group of founding members, including Wu-Fu Chen, Acorn Campus is a business development accelerator and early-stage funding source headquartered in Silicon Valley, California. Acorn is focused on new businesses driven by the technologies of the communications marketplace (broadly described as the telecommunications and Internet industries as well as their associated systems, networks and applications) and serves as a facilitator for the development of new businesses: providing seed capital, support services, and strategic relationships needed by start-up businesses. Acorn seeks to differentiate itself and provide sustainable long-term value by optimizing time-to-market advantages for emerging technology companies; leveraging appropriate capital, channels, suppliers, skills and resources in the process. Visit (http://www.acorncampus.com).
About Bay Partners
Bay Partners is a venture capital firm active in early-stage fundamental technology investing, funding over 200 companies since 1976. Last year Bay Partners was ranked fourth by Venture Economics in post-IPO return on capital with a return of over 700%. The firm's most important differentiator is its depth and breadth of operational expertise, spanning technology, sales, marketing, business development, and financial, legal, and general management. Recent Bay Partners portfolio success stories include Exodus Communications (NASDAQ:EXDS), Informatica (NASDAQ:INFA), Digital Island (NASDAQ:ISLD), Brocade Communications (NASDAQ:BRCD), and SonicWALL (NASDAQ:SNWL). (http://www.baypartners.com).
About Genesis Campus
Genesis Campus, founded by serial entrepreneur Wu-Fu Chen, is a technology business creation incubator, accelerator and early-stage venture fund, headquartered in the Telecom Corridor, Richardson, Texas. Genesis Campus is focused on Information and Telecommunication technologies including their associated systems, networks, components and applications. They serve as a facilitator for the development of new businesses, leveraging the appropriate capital, channels, suppliers, skills and resources needed to optimize the time-to-revenue for emerging technology companies in the start-up process. More information can be found at (http://www.genesiscampus.com).
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital.
CONTACT: Transat Technologies Inc. John Baker, 817/481-4412 15:01 EDT MAY 6, 2002