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Venture backers exit Ubiquisys through $310m Cisco purchase

4 Apr 2013

telecoms5sq_lrgVenture capital-backed phone network technology company Ubiquisys has been bought by Cisco in a $310m deal.

The deal comes just months after a string of venture backers helped the firm raise $19m in an oversubscribed financing round led by China’s Mobile Internet Capital and Nissay Capital.

Exiting investors Accel Partners, Advent Venture Partners and Atlas Ventures were also among contributors to the round.

Ubiquisys employees will be integrated into the Cisco Mobility Business Group when the transaction closes, which is expected between May and July.

The UK-based company provides 3G and long-term evolution (LTE) small-cell technologies for mobile network service providers.

Mobile service providers are experiencing growth in data consumption as consumers increasingly embrace the benefits of smartphones.

Macro network augmentation, spectrum additions and LTE can only meet a fraction of the extra capacity needed to meet consumer expectations.

As a result, small cell deployments in public spaces, incorporating combinations of 3G, LTE and WiFi, are forecast to grow very rapidly, as they multiply the capacity of mobile networks whilst driving down costs.

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