Carrier Access Corporation agreed to acquire Paragon Networks, a start-up developing wireless transport systems. Financial terms were not disclosed. Designed specifically for wireless service providers (WSP), Paragon Networks’ suite of backhaul solutions enable the rapid deployment of voice and data services and provide a migration path to 3G. Paragon’s products focus on end-to-end cell site access and hub site aggregation, providing port capacities from DS-0 through OC-3 and a full range of functionality including SONET / SDH Add-Drop Multiplexing, Digital Cross Connect, and IP routing capability. The company said it has shipped over 100,000 ports to date to some 175 service providers worldwide. Carrier Access, which offers a range of products designed to optimize bandwidth efficiency for multiple T1s, E1s and DS3s, said the acquisition would position it to become a leading provider of wireless transport solutions to mobile wireless operators worldwide.
Separately, Carrier Access Corporation filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 6,000,000 shares of common stock.
http://www.carrieraccess.com/http://www.paragon-networks.com/
- Paragon Networks is based in Brookfield, Connecticut. The company is headed by Russ Hawkins, who joined Paragon in 1996 as the VP of Sales & Marketing, becoming Paragon’s President & CEO in 1998. Prior to 1996, Mr. Hawkins was Director of Business Development with Lucent Technologies.
- In December 2001, Paragon Networks announced $12.5 million in Series D funding led by Stephens Group, Inc., and joined by Axiom Venture Partners, Connecticut Innovations, MSA Venture Partners and existing investors, including Granite Ventures (previously-H&Q Venture Associates), JK&B Capital and the Quantum Fund (part of the Soros Private Equity Partners).