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October 16, 2006  |  Email This Article   |  Print This Article

Redline heads for UK listing

LONDON (WiMAX Day). Fast-moving WiMAX equipment vendor Redline Communications may make its debut on the Alternative Investment Market (AIM) of the London Stock Exchange this week. Last year Redline had a US$ 15 million round of venture funding that was led by GF Private Equity Group, Matrix Partners and US Venture Partners. Redline, which was founded in 1999, has had substantial growth in the last three years, and is one of the leading providers of certified WiMAX base stations. According to a report today in The Independent newspaper in London, the last financial report for Redline stated revenue of $23 million in 2005. The Independent also reported that shares of Redline are expected to begin trading on AIM in early November. If listed on AIM, Redline will join the ranks of publicly-listed WiMAX vendors, that already includes Alvarion and Airspan.