Zinwave, a wi-fi solutions spin-out from Cambridge University, is acquired by US manufacturing firm McWane.
Wi-fi solutions firm Zinwave has been acquired by US-based manufacturing firm McWane for an undisclosed sum.
Zinwave, spun-out from the University of Cambridge in 2005, will draw on its new parent’s financial position to bolster its infrastructure, customer service, and commercial and technical resources. Zinwave will also continue product development of its wi-fi offering.
The move will also help strengthen Zinwave’s position in the distributed antenna system (DAS) sector, used to provide wi-fi and mobile coverage, which is estimated to grow by over 300% in the US over the next five years.
The firm will also retain its corporate identity whilst becoming a wholly-owned subsidiary of McWane.
Prior to the acquisition, Zinwave raised $21.3m in venture backing over three rounds, primarily led by venture firm Scottish Equity Partners. Atlas Ventures also participated in the firm’s 2005 $7.64m series A.
Ian Sugarbroad, chief executive of Zinwave, said: “Our new status will give us access to invaluable resources, including McWane’s impressive intellectual property, R&D, and global supply and distribution chain. It means we can speed up product development and improve our support to strategic partners and customers, so they in turn are able to accelerate growth for wideband active DAS solutions in their respective markets.”
G. Ruffner Page, McWane president, added: “Zinwave is the perfect addition to our growing stable of high-tech companies operating under the McWane Technology Group banner. Founded in 1921, McWane is a global leader in water, waste water, fire protection and LPG tank infrastructure products and we’re proud to continue leading the way in building the durable and innovative infrastructure our world depends on.”
