Gimv, a Belgian private equity and venture capital firm, has invested $10m in the series B financing round of German technology company Ubidyne. Gimv joins the syndicate of the existing investors Baytech, Doughty Hanson and TVM in this financing round totaling $43m.
Founded in 2005, Ubidyne, a spin-out from Siemens, created the world’s first digital Antenna Embedded Radio system for base transceiver stations deployed in mobile communication networks. The company’s patent-pending technology improves the operating economics of wireless networks. It reduces energy consumption, enables flexible deployment, and increases the coverage and capacity of wireless networks.
Hansjörg Sage, Munich-based partner of Gimv Technology, will join Ubidyne’s board of directors. He said, “Gimv Technology focuses on game changing technology companies that can become global leaders. We believe Ubidyne is poised to dramatically revolutionise the wireless base station industry, a market of truly impressing dimensions, with its unique digital radio technology.”
In addition to this transaction, Gimv has appointed Richard Seibt, chairman of the Open Source Business Foundation (OSBF), to its technology advisory board. Seibt was previously CEO of SuSE Linux, which he sold successfully to Novell, where he became president EMEA. Prior to that, he was a management board member at United Internet. He started his professional career at IBM where he held several management positions.
Gimv is listed on NYSE Euronext Brussels and currently manages around €1.7bn of assets, including third party funds.
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