The Carlyle Group and Atlas Venture are to sell Orthogon Systems to Motorola. Financial terms of the transaction were not disclosed. The exit is reported to represent a good return for investors.
Orthogon designs wireless ethernet bridges that provide point-to-point broadband connections in environments where traditional wireless broadband solutions fail to perform. Orthogon’s products enable enterprises, municipalities, government agencies, schools, and hospitals, as well as Internet service providers, and other private and public network operators to cost effectively connect disparate networks with ease of installation, performance and reliability.
Founded in 1999 as PipingHot Networks and headquartered in Ashburton, UK, the company launched its wireless ethernet bridge products in July 2003 as Orthogon Systems. Since then, the company has achieved year-on-year revenue growth and achieved profitability early on in its development.
Atlas Venture was a founding investor in Orthogon Systems in 1999 and The Carlyle Group first invested in Orthogon through its Carlyle Europe Venture Partners (CEVP) fund in 2000. This exit represents the fourth successful exit for Carlyle from that fund in the past 24 months.