ECI Telecom has spun-off its Celtro business unit, which provides transmission solutions for the backhaul of mobile networks. The new, independent and privately-held company will be known as Celtro Inc.
Celtro’s team and core technology are descended from ECI’s former NGTS Division, which developed digital circuit multiplication equipment and recently merged with NexVerse Networks to form Veraz Networks. The division developed and marketed the QuadCoder, an all-traffic compression system for the cellular network that is installed in live traffic systems worldwide. Celtro now offers this technology to cellular operators.
Momentum Management, a venture group specializing in the acceleration to profitability of technology companies, led the spin-off and successfully completed a round of investment from leading investors, including Genesis Partners, Cedar Fund and Discount Capital Markets. ECI Telecom will retain minority stake in the company.
http://www.celtro.com
