Due Diligence Update
Antenova gets $10 million investment
Along with the opening of its new U.S.
R&D and support centre in Chicago, Illinois, USA, Antenova Ltd,
has announced it has secured $10 million further funding for growth
and expansion. The Chilli carried out its Due
Diligence on Antenova in June 2003 (click here to view our original analysis and recommendations).
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In our recommendations back in 2003,
the recommendations we suggested are coming to fruition, namely:
- Partnering with a big guy has borne some key design wins at large accounts.
- Opening of a bigger presence in US Market is a key
- Offering different module solutions for each application sub-segment of the market increases design win traction and helps customers reduce BOM.
On the new funding round, Greg McCray,
Antenova’s CEO, said, “This additional investment will allow Antenova
to accelerate development of our RADIONOVA® range of RF
antenna modules and establish additional design centres to further penetrate
and support our target markets. Antenova’s high performance antennas
are designed into mobile handsets, laptop computers and other wireless
devices by leading OEM companies worldwide. Our strategy is to continue
to provide our OEM customers and partners with industry leading antennas
and RF antenna modules and become the global supplier of choice for
integrated antenna solutions.”
Antenova recently announced the GPS RADIONOVA
RF Antenna Module – claimed to be the world’s first GPS solution
in a single package, which combines a high performance and low power
receiver IC with Antenova’s high efficiency single ended internally
balanced antenna. GPS RADIONOVA is the first in the range of RF antenna
modules, which will be followed by GSM/CDMA, 3G, dual-mode GPS/GSM and
dual-mode WiFi/GSM RF antenna modules.
McCray continued, “Our Chicago design
and support centre has just opened and is already supporting customers’
projects. Having local presence with our customers has been key to our
success and plans are on target for opening locations in Shanghai, China
next quarter, followed by facilities in Korea and Japan by the end of
this year.”
McCray concluded, “Our investors’ confidence continues to underpin Antenova’s growth strategy, and we are fortunate to have the support of such experienced investors.”
Participating investors in the new investment
include institutional firms Artemis, CLS, Invesco and Panmure Capital
and existing shareholders Quester, Cambridge Gateway Fund and FNI Venture
Capital.
A more detailed update of Antenova will be available in future in The Chilli RED.
Comments on this story? Send an email to the editor at Editor@TheChilli.com
