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August 10, 2000 Ensemble Communications Inc. has closed a $60 million round of financing.
The next generation point-to-multipoint equipment supplier attracted several prominent new investors, including Cisco Systems Inc., Dell Ventures, IVP X and The Goldman Sachs Group Inc. and its affiliates.
Ensemble's existing investors — ADC Telecommunications, DMC Stratex Networks, Samsung, Crescendo Ventures, Enterprise Partners, Institutional Venture Partners, KTB Networks and Trinity Ventures — also increased their investments in the company in the round. Ensemble will use the proceeds to accelerate its product development, sales and marketing, and customer support activities, and also to expand its international presence as the company prepares for commercial shipments of its Fiberless system in the fourth quarter of this year.
"We are extremely pleased with the interest in Ensemble from high quality new investors, and we appreciate the continued confidence shown by our existing shareholders," says Dave Twyver, Ensemble president and CEO. "The fact that Ensemble has attracted this sizable financing is a strong endorsement of our products, our people and our market position." Twyver continued, "As we achieve yet another milestone in funding the company, our customer trials, OEM partnerships and international market development are accelerating. With multiple trials in the U.S. and abroad, Ensemble is now positioned to lead the BWA market worldwide."
Headquartered in San Diego, Ensemble designs, manufactures and markets point-to-multipoint wireless systems for local multipoint distribution services and other broadband wireless access markets worldwide.
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Qualcomm has signed a CDMA license agreement with Handspring Inc., a handheld computer company.
"Qualcomm is pleased to license its technology to Handspring," says Steve Altman, president of Qualcomm Technology Alliances. "Handspring's leadership in developing innovative wireless-ready handheld solutions further supports Qualcomm's vision of bringing innumerable applications to consumers and businesses through CDMA-enabled devices. We look forward to working with Handspring to help fuel the growth of CDMA worldwide."
"Over time, all handheld computing products will become wirelessly enabled and Qualcomm's CDMA technology provides a great path for enabling these solutions," says Ed Colligan, senior v.p. of marketing and sales for Handspring. "One of the key design advantages of our Springboard expansion technology is its ability to work with multiple wireless standards.”
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The San Diego Software and Internet Council is accepting applications from early-stage software, e-Commerce, wireless or Internet infrastructure companies seeking investment financing of up to $3 million per company.
Applications must be filed with SDSIC by Aug. 24.
Companies can download the application form from SDSIC's Web site — www.sdsic.net. Interested investors should contact SDSIC directly at (858) 450-5935.
Applicants are expected to be primarily from San Diego, but may also include those from all of Southern California.
Selected companies will meet with SDSIC's panel of coaches to receive assistance in preparing the presentations to investors.
The investment conference is presented in conjunction with UCSD Connect.
The sixth annual conference will be held on Oct. 11, from 8 a.m. to noon at the Hilton Torrey Pines. Breakfast and registration begins at 7 a.m.
"This is a great opportunity for any viable, start-up software or Internet company to not only polish and present its business plan to potential investors, but possibly be awarded up to $3 million in funding at the same time," says Bob Slapin, executive director of SDSIC. "Every year this event gets better. This year we are attracting some very strong companies. Many of these companies came to us through leading law firms and accounting firms in the area. Others came to us through their exposure to the SDSIC Entrepreneurs' Venture Forum."
The lead sponsor of this conference is Silicon Valley Bank. Principal sponsors are: Brobeck Phleger & Harrison, Ernst & Young, PriceWaterhouseCoopers and Marsh USA Inc. ContentOne Marketing and Public Relations and SeminarSource are the service sponsors.
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