US : AirWalk Communications announced the closing of a $15 million second round of equity financing to aggressively extend its leadership position in the fast-growing CDMA network market. The Company plans to intensify its presence in the mobile broadband market with its stand-alone 1xEV-DO Rev. A wireless infrastructure solution. In a market dominated by traditional wireless infrastructure vendors, AirWalk's IP products uniquely address the need for a highly integrated compact platform to reduce overall network build-out costs and time-to-market.

The investment group syndicate was led by Sevin Rosen Funds, Dallas, TX ("SRF") and included an additional investment from first round investor TL Ventures, Wayne, PA, and new investment from Alta Berkeley, London, U.K., and Duchossois Technology Partners, Chicago, IL. In connection with the financing, AirWalk has appointed four new members to its board of directors: Jon Bayless, General Partner of SRF, Bob Keith Managing Director of TL Ventures, Barun Dutta Senior Partner at Alta Berkeley and Tony Seth, a Partner with Duchossois.

AirWalk is led by an experienced team of wireless professionals that has helped the Company develop a uniquely integrated base station and controller into a single small radio access network unit. This stand-alone IP network element is configured to provide both data (1xEV-DO Rev. A) and voice (1xRTT) in a single compact unit, dramatically reducing capital investment and operational expenses. AirWalk's growth initiatives include an extended focus on sales, networks for new domestic licensees and further advancement of its core IP platforms.

"By leveraging the success of our 1xRTT product line we can now significantly increase the breadth of our broadband offerings as well as the depth of our support services," said Serge Pequeux, President and CEO of AirWalk. "AirWalk's portfolio of compact network elements and notable strategic partners deliver a complete cost effective IP cellular network to CDMA operators worldwide."

"As wireless IP infrastructure networks move from early adopters to mainstream service providers, and wireless standards focus on higher data rates, we expect the IP content and applications of wireless operators to grow rapidly," said Jon Bayless, General Partner of SRF. "With its advanced wireless IP network products and broad base of innovation, AirWalk is well-positioned to be the global leader in this growing market."

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