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WaveTeq has developed high performance, cost effective outdoor networking solutions that are demanded by customers in low density suburban, rural and international deployment settings. Wireless operators in all these markets seek open standards based, easy-to-install, cost-effective, rugged and reliable, all-in-one solutions for deploying Wi-Fi and WiMAX communications networks.
“We talked to WaveTeq’s customers who have either purchased or have tested the well established brand names in the Wireless equipment market and they are now using WaveTeq equipment because of its superior performance and value” commented OIF Managing Director John Drope. “This investment compliments our previous investment in Metrobridge Networks (www.metrobridge.com) giving the fund excellent exposure to the rapidly growing internet wireless market.”
Jack Van der Star, WaveTeq CEO, said the timing could not be better. “We have had a great deal of interest in our product and are on the verge of tremendous growth. We are pleased to be partnering with OIF as we become a world leader for enabling wireless internet service providers around the globe. OIF’s investment in WaveTeq follows extensive due diligence and is a strong vote of confidence for our Innovative and rapidly growing Okanagan based company”
Paul Mitchell, Chair of the OIF Board of Directors noted, “This is our seventh investment by the fund and we are pleased to be investing in what we are confident will be another local success story”. “The Fund has made significant progress and will continue to play an important role in the growth and development of the Southern Interior region and we invite interested parties to contact us to learn more about this initiative and the investment opportunities it provides.”
For Information contact John Drope, Managing Director, OIF 250.762.6850
or Jack Van der Star, CEO WaveTeq Communications, 250.766.9229
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