Sunday, February 6, 2011

BLiNQ Acquires Nortel Wireless Backhaul Assets, Raises $7.4 Million

BLiNQ Networks, a start-up based in Plano, Texas with R&D in Ottawa, announced its entrance into the market for wireless backhaul solutions. The company has acquired certain intellectual property and wireless assets from Nortel Networks. It has secured $7.4 million in Series A funding and has appointed former President of Andrew Corporation's Wireless Network Solutions, Carleton Miller, as President and CEO.

BLiNQ plans to unveil its wireless backhaul solution at the upcoming Mobile World Congress in Barcelona next week.

The funding came from New Venture Partners, Summerhill Venture Partners and the Business Development Bank of Canada. The company also announced that New Venture Partners' Dan Deeney and Summerhill's Joe Catalfamo joins Ralph E. Faison, CEO and President at Pulse Electronics and Carleton Miller, on the company's Board of Directors.http://www.blinqnetworks.com

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