Baylin new director Aug10 Aug17 mavenire raises 95 mil TORONTO,
Aug. 10, 2022 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "
Company") is pleased to announce that
Bejoy Pankajakshan has been appointed to its board of directors. The appointment of Mr. Pankajakshan will add valuable insight and industry expertise to the board. This appointment expands the board from six to seven directors and adds one more independent director........................................................................................
Telecom solution provider Mavenir has raised $155 million in a round that solidifies its strategy to compete with systems integrators in delivering multivendor hardware and software solutions to telcos worldwide.
The funding comes several weeks after Mavenir took a $95 million loan in the form of debt issuance on the public markets. Several news outlets, attributing Moody’s Investors Service, reported that the money was needed for R&D and to cope with higher capital costs and anticipated “softer top-line growth forecasts."
All of which tallies with Mavenir’s stated goal of widening the scope of its telecom solutions to include “turnkey” services, particularly ones related to Open RAN (O-RAN) deployments among telcos with existing investments in 4G and 5G networks – so-called brownfield opportunities.
Hardware Investment Continues
Mavenir, which made its name in telecom software (and continues to serve that market) has had its hand in many other efforts over the past two years. Its plan to be a comprehensive telecom supplier became clear when it introduced its own 5G O-RAN hardware units in 2020.
Other projects have included work with NVIDIA (Nasdaq: NVDA) on a 5G chip with artificial intelligence (AI) and a massive MIMO effort with Xilinx (which is now part of AMD).