LOS ANGELES, CA, October 21, 2013 — Vicente Capital Partners (VCP), a leading growth equity investment firm, is proud to announce today that its Growth Equity Fund, jointly with Farol Asset Management, LP, acquired a significant equity interest in iBwave Solutions Inc., the global standard for in-building wireless software and training solutions. This new relationship will be key to continuing iBwave’s rapid growth and expansion into new markets.
Headquartered in Montreal, Canada, iBwave has experienced consistent and significant growth since its 2003 launch. The company’s vision has been one of an interdependent ecosystem of wireless operators, system integrators and equipment manufacturers, all sharing information on a standard platform and working closely together toward the higher goal of providing 100% reliable mobile service inside buildings. Now with over 500 clients worldwide, including all of the tier-1 wireless operators in North America, iBwave is the recognized standard for in-building wireless network design software and certification programs.
“The iBwave team has a dynamic and contagious spirit – a clear indicator as to why they have achieved so much in so little time,” says Klaus Koch, Managing Partner of Vicente Capital Partners. “With ten years of demonstrated excellence in the in-building wireless industry, we are confident that this new relationship will help the iBwave team achieve new levels of growth.”
“We are very enthusiastic to begin this new partnership with Vicente Capital Partners, who share our vision of continuing to standardize indoor wireless network design globally,” says Mario Bouchard, President and CEO of iBwave. “iBwave has been growing steadily and organically throughout the past ten years; this investment will allow us to jumpstart the next ten years as well as enable us to expand our offering with new products and in new markets.”
Klaus Koch of Vicente Capital Partners and Krishnan Ramaswami, who is an Advisor to the Vicente fund, will join iBwave’s existing board of directors.