RuggedCom buys WiMax equipment provider WiNetworks
RuggedCom, a public company that makes networking equipment that works in unfavorable environments, has acquired WiMax equipment developer WiNetworks for $9 million. It will also take on $5 million in debt from the Israeli company. Rugged hopes that the deal will add to its arsenal as it eyes the burgeoning Smart Grid sector. Many networking companies are looking to ride the wave toward a cleaner, more efficient electrical grid, offering their services to help transmit energy consumption data between utilities and their customers’ meters.
Based in Ontario, Canada, Rugged has been a vendor for utilities looking to set up wireless networks for their substations. Today, it also supplies the U.S. military and some petrochemical companies working in challenging climates. In particular, the company hopes to use WiNetworks technology to automate its substations.
Before now, WiNetworks raised $46 million from Columbia Capital, Evergreen Partners, Cedar Fund and Rho Capital Partners.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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