Airspan Networks

Airspan Networks Inc.
Public company
Traded as OTC Pink: AIRO
Industry Telecommunications equipment
Founded January 30, 1998 (1998-01-30)
Headquarters Boca Raton, Florida
Key people
 Eric D. Stonestrom, CEO & President
David Brant, CFO
Revenue Decrease $70 million (2008)
Decrease -$49 million (2008)
Total assets Decrease $69 million (2008)
Total equity Decrease $26 million (2008)
Number of employees
 207 (March 1, 2009)
Website www.airspan.com
Footnotes / references
[1]

Airspan Networks is a supplier of broadband wireless equipment supporting the 4G LTE and WIMAX protocol standards.[1]

History

The company was founded in January 1998.

In May 1998, Eric D. Stonestrom was named president and chief executive officer of the company.

Its first product, AS4020 platform, was based on CDMA radio technology adapted for fixed wireless access points.

In July 2000, as the dot-com bubble was bursting, the company became a public company and raised $82.5 million in an initial public offering. Its stock price rose 113% in its first day of trading.[2]

In 2004, Airspan made an agreement with Neda Telecommunications, a subsidiary of Aspen Wind Corporation, to send radios to Kabul, Afghanistan.[3]

In the fourth quarter of 2005, the company released its WiMAX product line.[4]

In September 2006, Oak Investment Partners made a $29 million investment in the company.[5]

In September 2007, it won the WiMAX World Best of Show Award for the mobile WiMAX MiMAX device, a miniature WiMAX receiver covering all major licensed and unlicensed WiMAX spectrum.[6]

In 2010, the company teamed with LightSquared to market LightSquared's 1.4 GHz wireless spectrum in the United States. The spectrum is targeted primarily to the utility industry for Smart Grid deployments.[7]

In 2009, the company's stock was delisted from the NASDAQ.[8]

References

  1. 1 2 "Airspan Networks Inc. 2008 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Airspan soars in debut". CNNMoney. July 20, 2000.
  3. ↑ "Airspan deploys network in Afghanistan". American City Business Journals. December 23, 2004.
  4. ↑ "Airspan Unveils Cost-Effective WiMAX Starter Package for Operators and Enterprises Using Both Licensed and Unlicensed Spectrum" (Press release). Marketwired. October 10, 2006.
  5. ↑ "Airspan Concludes Financing With Oak Investment Partners" (Press release). Marketwired. September 25, 2006.
  6. ↑ "Airspan's MiMAX™ Wins Best of WiMAX World USA Award" (Press release). Marketwired. September 27, 2007.
  7. ↑ "Airspan and LightSquared™ Team Up on Smart Grid With Licensed Spectrum and 4G Equipment" (Press release). Marketwired. August 5, 2010.
  8. ↑ "Airspan Announces Delisting Timing and Intention to Continue to Publicize Financial Information" (Press release). Marketwired. April 8, 2009.
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