Airspan Networks
{{short description|American telecommunications company}}
{{Promotional|date=July 2022}}
{{Infobox company
| name = Airspan Networks Inc.
| logo = Airspan Networks full logo.svg
| type = Private Companyhttps://www.businesswire.com/news/home/20241011361177/en/Airspan-Completes-Strategic-Transition-for-Long-Term-Success-Secures-85.4-Million-in-New-Equity-Financing
| industry = Telecommunications equipment
| foundation = {{Start date and age|1998|01|30}}
| hq_location = Boca Raton, Florida
| key_people = {{nowrap|Glenn Laxdal, CEO & President
David Brant, CFO}}
| num_employees = 800 (Dec 31, 2020)
| homepage = {{URL|https://www.airspan.com/}}
}}
Airspan Networks is an American telecommunications company, headquartered in Boca Raton, Florida. The company develops Radio Access Network technology including the Sprint 'Magic Box' and cells (both small and macro) for the Rakuten virtualized network.{{Cite web|url=https://www.airspan.com/about-airspan/|title=About {{!}} Airspan a 4G & 5G network densification solution provider|language=en-US|access-date=2020-03-20}}
Airspan was originally a product division of DSC Communications, a manufacturer of telephone switching equipment. Original products included a CDMA-based radio platform used for the fixed wireless market. In 1998, the company separated from DSC Communications and announced Eric Stonestrom as CEO and President.
Airspan originally focused its product line on the small cell and mini-macro equipment market, used by mobile operators to extend wireless services. Through the acquisition of Mimosa Networks in 2018,{{Cite web|url=https://www.airspan.com/news/santa-clara-california-november-20-2018-airspan-networks-inc-announced-today-that-it-has-acquired-mimosa-networks-inc/|title=Airspan {{!}} Santa Clara California, November 20, 2018 – Airspan Networks Inc. announced today that it has acquired Mimosa Networks Inc.|language=en-US|access-date=2020-04-03}} the company entered the market for fixed wireless solutions{{buzzword inline|date=April 2020}} which are used in commercial, enterprise and operator networks for wireless backhaul and access applications.
Airspan's 5G NR development program is focused on mmWave, Sub 6 GHz, Massive MIMO, and Open Virtual RAN architectures. The company also offers fixed wireless access and backhaul solutions{{buzzword inline|date=April 2020}} for PTP (point-to-point) and PTMP (point-to-multi-point) applications through its Mimosa Products.
In March, 2019, Airspan announced a partnership with Google in support of CBRS services.{{Cite web |title=Airspan's partners with Google's SAS to offer a full suite of CBRS services to the WISP market – Airspan |url=https://airspan.com/news/airspan-s-partners-with-googles-sas-to-offer-a-full-suite-of-cbrs-services-to-the-wisp-market/ |access-date=2024-08-28 |language=en-US}}
In August 2021, Airspan completed a business combination with New Beginnings Acquisition Corp.{{Cite web |date=2021-08-16 |title=Airspan Networks Inc. and New Beginnings Acquisition Corp. Complete Business Combination; Commences Trading Today on NYSE American Under Ticker "MIMO" |url=https://www.businesswire.com/news/home/20210816005166/en/Airspan-Networks-Inc.-and-New-Beginnings-Acquisition-Corp.-Complete-Business-Combination-Commences-Trading-Today-on-NYSE-American-Under-Ticker-%E2%80%9CMIMO%E2%80%9D |access-date=2024-02-14 |website=www.businesswire.com |language=en}} The newly-renamed "Airspan Networks Holdings Inc. then began trading on the NYSE American under the ticker symbol MIMO.
History
The company was founded in January 1998.
In May 1998, Eric D. Stonestrom was named president and chief executive officer of the company.
Its first product, AS4020 platform, was based on CDMA radio technology adapted for fixed wireless access points.
In July 2000, as the dot-com bubble was bursting, the company became a public company and raised $82.5 million in an initial public offering. Its stock price rose 113% in its first day of trading.{{cite news | url=https://money.cnn.com/2000/07/20/deals/airspan/ | title=Airspan soars in debut | work=CNN | date=July 20, 2000}}
In 2004, the company made an agreement with Neda Telecommunications, a subsidiary of Aspen Wind Corporation, to send radios to Kabul, Afghanistan.{{cite news | url=https://www.bizjournals.com/southflorida/stories/2004/12/20/daily43.html | title=Airspan deploys network in Afghanistan | work=American City Business Journals | date=December 23, 2004}}
In the fourth quarter of 2005, the company released its WiMAX product line.{{cite press release | url=https://money.cnn.com/news/newsfeeds/articles/marketwire/06170960.htm | title=Airspan Unveils Cost-Effective WiMAX Starter Package for Operators and Enterprises Using Both Licensed and Unlicensed Spectrum | publisher=CNN | date=October 10, 2006}}
In September 2006, Oak Investment Partners made a $29 million investment in the company.{{cite press release | url=https://money.cnn.com/news/newsfeeds/articles/marketwire/06166532.htm | title=Airspan Concludes Financing With Oak Investment Partners | publisher=CNN | date=September 25, 2006}}
In 2010, the company teamed with LightSquared to market LightSquared's 1.4 GHz wireless spectrum in the United States. The spectrum is targeted primarily at the utility industry for Smart Grid deployments.{{cite press release | url=https://www.policeone.com/police-products/police-technology/wireless-communications/press-releases/2773306-Airspan-and-LightSquared-Team-Up-on-Smart-Grid-with-Licensed-Spectrum-and-4G-Equipment/ | title=Airspan and LightSquared™ Team Up on Smart Grid With Licensed Spectrum and 4G Equipment | publisher=PoliceOne | date=August 5, 2010}}
In 2009, the company's stock was delisted from the NASDAQ.{{cite press release | url=https://www.globenewswire.com/news-release/2009/04/08/983744/0/en/Airspan-Announces-Delisting-Timing-and-Intention-to-Continue-to-Publicize-Financial-Information.html | title=Airspan Announces Delisting Timing and Intention to Continue to Publicize Financial Information | publisher=Globe Newswire | date=April 8, 2009}}
In March 2021, the company announced that it would be re-listed on NYSE American through a reverse merger with New Beginnings Acquisition Corporation, a special-purpose acquisition company.{{Cite web|date=2021-03-08|title=Airspan Networks, a Leading 5G Technology Company to Go Public through Merger with New Beginnings Acquisition Corp. (NYSE American: NBA)|url=https://www.businesswire.com/news/home/20210308005248/en/Airspan-Networks-a-Leading-5G-Technology-Company-to-Go-Public-through-Merger-with-New-Beginnings-Acquisition-Corp.-NYSE-American-NBA|access-date=2021-06-13|website=www.businesswire.com|language=en}}
In August 2021, the company completed the reverse merger with New Beginnings Acquisition Corporation. The parent company was hence renamed "Airspan Networks Holdings Inc." and began trading on the [https://www.nyse.com/quote/XASE:MIMO NYSE American under the ticker symbol MIMO].{{Cite web |last=Hardesty |first=Linda |date=23 August 2021 |title=Airspan IPO values the company around $700M |url=https://www.fiercewireless.com/wireless/airspan-ipo-values-company-around-700m |website=Fierce Wireless}}
In May 2023, Glenn Laxdal was announced as the new CEO.{{Cite web |date=2023-05-18 |title=Airspan Networks Holdings Announces New Financing and Leadership Changes |url=https://www.businesswire.com/news/home/20230518005659/en/Airspan-Networks-Holdings-Announces-New-Financing-and-Leadership-Changes |access-date=2024-02-14 |website=www.businesswire.com |language=en}}
In 2023 Airspan sold Mimosa to Indian communication giant JIO for $60 million through JIO wholly owned subsidiary Radisys Corporation.{{cite web | url=https://telecom.economictimes.indiatimes.com/amp/news/industry/jio-platform-completes-acquisition-of-us-based-mimosa-networks/102657065| language=en| title=Jio Platform completes acquisition of US-based Mimosa Networks - ET Telecom}}
In March 2024, the company announced that it would become private after receiving up to $95 million in new equity financing. The company's stock was soon delisted from the NYSE, and the company filed for a voluntary prepackaged Chapter 11 bankruptcy filing in order to implement the deal.{{Cite web|url= https://markets.financialcontent.com/stocks/article/bizwire-2024-3-31-airspan-to-receive-up-to-95-million-in-new-equity-financing-and-eliminate-all-existing-funded-debt|title= Airspan to Receive Up to $95 Million in New Equity Financing and Eliminate All Existing Funded Debt |date=March 31, 2024|access-date=March 31, 2024|website=Financial Content|language=en}}
Awards and recognition
Airspan's industry recognition and awards date back to 2007 when the company won the 'Best of WiMAX World USA Award'.{{Cite press release|url=http://www.globenewswire.com/news-release/2007/09/27/983665/0/en/Airspan-s-MiMAX-TM-Wins-Best-of-WiMAX-World-USA-Award.html|title=Airspan's MiMAX(TM) Wins Best of WiMAX World USA Award|date=2007-09-27|website=GlobeNewswire News Room|access-date=2020-03-20}}
Airspan & Jio won the SCF 2020 Award for Excellence in Commercial Deployment (Urban).{{Cite web|title=Awards Winners 2020|url=https://www.smallcellforum.org/awards-winners-2020/|access-date=2020-12-21|website=Small Cell Forum|language=en-US}}
Sprint and Airspan won the SCF 2019 Small Cell Award for Excellence in Commercial Deployment.
Sprint & Airspan Netlworks – Sprint LTE Magic Box won the SCF Award 2018 Excellence in Commercial Deployment (Residential).
Airspan and Sprint were selected as the winners for the “Best Mobile Technology Breakthrough” at GLOMO 2018 Awards.
Airspan and Qualcomm won the SCF 2021 Small Cell Award for Excellence in Commercial Deployment for 5G OpenRANGE mmWave outdoor small deployment.
References
{{Reflist|1}}
External links
{{Finance links
| name = Airspan Networks Holdings Inc
| Nyse: American = MIMO
}}
{{Dot-com Bubble}}
Category:1998 establishments in Florida
Category:2000 initial public offerings
Category:Companies formerly listed on the New York Stock Exchange
Category:Companies that filed for Chapter 11 bankruptcy in 2024
Category:American companies established in 1998
Category:Companies based in Boca Raton, Florida
Category:Technology companies established in 1998
Category:Telecommunications companies of the United States
Category:Computer companies of the United States
Category:Computer hardware companies