Globes.co.il, January 3, 2005
MobileAccess to install US House of Representatives communications system
| The contract is valued at $9 million
|Israeli start-up MobileAccess, which provides in-building wireless voice and data networks, will install a communications network at the US House of Representatives and other government buildings in Washington, DC. The contract is valued at $9 million.
The company stated that the system enables complete coverage of advanced wireless technologies, in addition to wireless LAN. Tens of thousands of visitors and government staffers will be able to use their cell phones, PDAs and portable computers on all building floors, including underground passages, parking lots, and adjacent areas.
Founded in 1998 as Foxcom Wireless, MobileAccess's estimated annual revenue is $20 million. According to IVC (Israel Venture Capital) Research Center data, the company has raised $41 million from a wide range of investors including Genesis Partners, Poalim Ventures, Eurofund, and Momentum Management.
The company's most recent funding round, led by Pitango Venture Capital and HarbourVest Partners, took place in late 2003 and raised $10 million at a company value of $25 million, after money.
Published by Globes [online], Israel business news - www.globes.co.il - on Monday, January 03, 2005