Wednesday, September 16, 2009

NextG Networks Raises Funding

San Jose-based NextG Networks, a developer of distributed antenna systems for wireless carriers, said Wednesday that it has secured an equity investment from a group of investors led by Madison Dearborn Partners. Amount of the investment was not disclosed. According to the firm, the investment included Accel Partners, Redpoint Ventures and Meritech Capital Partners, and gives the group a majority ownership of the firm. A regulatory filing by the firm from earlier this month indicates that the deal was worth $360.1M. NextG said that co-founder David Cutrer has become CEO, and and co-founder John Georges will become a member of its board and act as a SEnior Advisor to the board. NextG Networks was backed by Gabriel Venture Partners and Oak Investment Partners. More information »