WSI raises $26 million to gear up for 3G

Wireless Systems International Ltd (WSI) in late June announced a $26 million (e29 million) funding round designed to carry it through to an IPO within the next 18 months. Arranged by KPMG Corporate Finance’s Private Equity Group, the financing featured Deutsche Bank Capital Partners, Deutsche Bank Venture Partners, Advent Venture Partners and WSI’s first venture backer, 3i Group, whose involvement with the company dates back to 1997.

WSI focuses on the design, development and manufacture of wideband linear power amplifiers for use in third generation (3G) cellular base stations and associated hardware. One of the few companies worldwide with the design and development capabilities to create the wideband linearity needed for 3G wireless infrastructure, WSI is experiencing dramatic increase in demand for its greenbox(TM) amplifier as the 3G licensing process moves forward.

Mike Reid of 3i, which is WSI’s largest single shareholder, comments: “We are very excited at the prospect of WSI playing a key role in facilitating the mobile Internet market. We believe that mobile Internet is set to revolutionise worldwide communications and the key to delivering this is the 3G base station amplifier. As WSI is a world leader in base station amplifier design and development, the investment opportunity represented by this company is huge”.