DesignArt Networks in talks for 100-150m exit
Apr 11, 2012 (Menafn - Globes - McClatchy-Tribune Information Services via COMTEX) --DesignArt Networks, which designs solutions for the mobile 3G, 4G and high-speed wireless backhaul infrastructure, is in talks to be acquired for 100-150 million.
Market sources believe that potential buyers are chip companies working in the field of communications equipment, such as Intel Corp. , through Infineon Technologies AG Wireless Solutions (WLS) business, which it acquired in January, and Qualcomm Inc. QCOM.
Based in Ra'anana, DesignArt Networks was founded in 2006 by CEO Oz Barak, CTO Assaf Touboul and Avishay Mor. 30 million has been invested in the company by Carmel Ventures, Magma Venture Partners, and Motorola Solutions Venture Capital. The company also received a loan from Plenus Venture Lending Fund.
Unlike most companies providing components for 4G wireless technologies, DesignArt's focus is on infrastructure, in other words making mobile communications more efficient on a higher-speed broadband between computer installations and the network core.
The company's solutions can also improve performance of networks in densely populated urban environments. Sources believe that DesignArt had several million dollars in revenue in 2011.
A response could not be obtained from either DesignArt or its investors.
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