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WiMAX Financing

Arcapita Ventures Co-Leads A $50 Million Financing In Navini Networks, Inc.

Other topics: Bilateral Wi-Fi Roaming Access, WiMAX Interoperability Testing, WiMAX Subscriber Growth, Asian Wi-Fi Market, Enhanced GPS Measurements

Arcapita Ventures,
May 22, 2007

Atlanta, GA -- Arcapita Ventures, the venture capital arm of Arcapita Bank B.S.C.(c), announced today that alongside Austin Ventures, it has co-led a $50 million Series F equity financing in Navini Networks, Inc., a wireless access equipment provider. Joining Arcapita and Austin Ventures in the round were existing investors Granite Ventures, Investor Growth Capital, Lehman Brothers Venture Partners, Sternhill Partners, Intel Capital and Motorola Ventures, along with a new investment from Scottwood Capital. Tom Hawkins from Arcapita Ventures will join the Navini Networks Board of Directors.
 
 
Navini Networks, Inc., headquartered in Richardson, TX, is the global leader in pre-mobile WiMAX wireless broadband access solutions, and has implemented the largest commercial deployments in the world. The Company’s patented Smart WiMAX™ solution combines the Smart Beamforming technology currently in commercial service around the world, with beamformed MIMO, which can double the data throughput for mobile WiMAX subscribers.

The financing marks the fourth investment by Arcapita Ventures, and its second investment in the communications sector. Tom Hawkins, a Director with Arcapita Ventures, said, “Most sector analysts are recognizing the tremendous growth potential in the global WiMax market, in which Navini Networks is a clear leader. The company’s market leading mobile WiMAX technology and experienced management team, as well as the anticipated growth in mobile WiMAX, make this an excellent investment opportunity for Arcapita Ventures.”

"Navini Networks has successfully developed its broadband wireless solution and is ready for the mobile WiMAX market," said Roger Dorf, President and CEO of Navini Networks. "Working with Arcapita will help us as we expand our presence in the emerging WiMAX markets globally."

About Arcapita Ventures
Arcapita Ventures, the venture capital arm of Arcapita Bank B.S.C.(c), partners with outstanding entrepreneurs to build market-leading companies. Arcapita Ventures focuses on growth-stage enterprises across the United States in the healthcare, information technology and industrial technology sectors. Arcapita Bank, a leading international investment firm with offices in Atlanta, London and Bahrain, has completed 60 transactions with a total value exceeding $20 billion in the venture capital, private equity, real estate and asset-based markets. Contact Arcapita Ventures at (404) 920-9000, via e-mail at vcapital@arcapita.com or on the web at www.arcapita.com.

About Navini Networks, Inc.
Navini Networks is the leader in providing portable, plug-n-play broadband wireless access solutions, with the largest commercial deployments in the world, over 70 commercial networks in 6 continents and strategic partnerships with industry leaders. Navini is the only company that has the patented Smart Beamforming technology, enabling personal broadband for the mass market today, with a seamless upgrade to the Mobile WiMAX standard to deliver Smart WiMAX™. (Smart WiMAX™ is the combination of mobile WiMAX with Smart Beamforming & MIMO). Navini's Ripwave® MX portable, zero-install™, non-line-of-sight (NLOS) solution consists of customer modems, base stations, and element management systems (EMS) that run in the full range of spectrums with software upgrades to the IEEE 802.16e standard.


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