FASTBACK NETWORKSNovember 2013 | Investment News
In November 2013, BGF invested £2.5m in Sub10 Systems (Sub10), a specialist designer, developer and vendor of class-leading millimeter wave (“MMW”) wireless solutions for mobile telecoms.
Sub10’s products are high speed wireless devices for data transfer across mobile networks where historically data transfer has been slow and unreliable. The company’s customers are primarily telecommunications companies and large network operators. Due to the growth in mobile data traffic, many operators are using wireless to save on radio spectrum usage and thereby increase efficiency. This can be achieved by using products such as Sub10’s wireless links where plenty of data spectrum is available for relatively short, high speed, point-to-point data connections. This is ideal for densely packed communications networks such as urban areas and Sub10’s products will help to improve the performance of mobile networks.
Sub10’s aim is to develop the smallest, best in class MMW wireless solutions which are cost effective and installer friendly. The company exports 90% of its products and currently the majority of its sales are to operators in Eastern Europe, Russia and Turkey with the remainder to the UK and Ireland.
Merger with Fastback Networks
In March 2015, Sub10 Systems agreed a merger with US venture capital backed company Fastback Networks.
Fastback, which is based in San Jose, California, delivers innovative mobile infrastructure technology, enabling network operators to deliver enhanced wireless solutions to its customers.
The merger created a group that is able to provide high performance backhaul solutions essential to the deployment of LTE, LTE-A, VoLTE, 4G and 5G mobile networks. The new entity converges Sub10 and Fastback’s powerful and proven technology platforms and intellectual property to enable the industry’s first hybrid – sub 6GHz and mmWave – Any Line of Sight™ backhaul solutions.
The Sub10 Systems operation in Devon became the new European headquarters for Fastback. The combined group is taking immediate advantage of Fastback’s North American sales and marketing presence and strengths, and vice versa for Sub10’s European presence and strengths.
BGF remained as a minority investor in the enlarged entity.