More Cash for Broadband Innovations5/12/2003 10:36 AM Eastern
Broadband Innovations Inc. announced Monday that it has raised $8 million in
The preferred-stock financing was led by new investor Sandler Capital
Management, a private equity firm focused on the media and communications
industries, and Lauder Partners LLC, a longtime investor in Broadband
Other investors include Scientific-Atlanta Inc. and Motorola Inc.
Broadband Innovations is a leading provider of radio-frequency solutions for
the cable industry.
The vendor said the financing will be used to fund working capital relating
to its current RF module and component sales to tier-one suppliers to the cable
industry, such as Motorola, S-A and Harmonic Inc.
In addition, the financing will be used to accelerate research and
development of RF solutions focused on enabling next-generation digital
applications for the cable industry.
"This financing is a testimony to the support of our existing customers; the
market opportunity that is presented by next-generation cable services, such as
video-on-demand; and our dedicated and talented group of employees," Broadband
Innovations president and CEO Stephen Stuut said in a release.