News : Mitel Solidifies Investment in 5G Connectivity Initiative
Dallas, TX, USA, June 7, 2016 -- Mitel (Nasdaq:MITL) (TSX:MNW), a global provider in real-time business, cloud and mobile communications, has solidified its 5G program, announced earlier this year, with participation in the initial round of funding of the newly created Ranzure Networks. With a seed round of funding from Mitel and other investors, including LiveOak Venture Partners, Ranzure Networks will license Mitel Mobile technology in the area of Evolved Packet Core to support service providers as they build 5G networks for the Internet of Things.
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"The days of rigid, proprietary hardware solutions are over and the migration to 5G provides opportunity for innovation," said Pardeep Kohli, President and CEO, Ranzure Networks Inc. "We believe that satisfying varying needs of billions of devices now requires a flexible Radio Access Network that is easy to deploy, operate and customize to meet the needs of each device. Ranzure will bring flexible cloud technologies to radio access networks."
"Our investment in Ranzure Networks enables Mitel to keep tight focus on the immediate needs of our current mobile customers and positions us to capitalize on the 5G market opportunity as it evolves and emerges," said Rich McBee, CEO, Mitel.
Posted by Veronica Silva Cusi, news correspondent
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