SAN FRANCISCO, June 17, 2016 /PRNewswire/ -- PHAZR, a Gigabit Wireless solutions provider, and FiberTower, the leading developer of licensed wide-area millimeter wave service solutions, today announced a partnership focused on 5G millimeter wave systems development.
Pursuant to the agreement, FiberTower, PHAZR's largest investor, will participate in the initial round of funding along with iTimeFund and other investors.
"The FiberTower investment will help PHAZR accelerate the deployment of their 5G technology for a Gigabit per second mobile and fixed access system utilizing mmWave bands between 24GHz and 39GHz," said Pulin Patel, PHAZR Board member from iTimeFund.
In conjunction with its investment in PHAZR, FiberTower will also create a Technology Advisory Committee to its Board of Directors led by PHAZR CEO Farooq Khan.
"The ability to utilize FiberTower's long-standing deployment capabilities and relationships across industry sectors, combined with FiberTower's millimeter wave licenses, represents a unique and actionable opportunity to swiftly bring PHAZR's 5G solutions to the marketplace," said Khan.
"PHAZR's technology and world-leading 5G millimeter wave products precisely fit with FiberTower's strategic objectives," said FiberTower officer Joseph Sandri. "The technology development team at PHAZR is the most accomplished 5G group we have seen and we are very excited to partner with them."
When available in 2017, PHAZR's 5G millimeter wave system will be the industry's first integrated, high-power, commercial, 5G millimeter wave antennas array. At peak rates the system is expected to deliver 16 Gbps throughput per cell over a 200 MHz channel block, which will be an industry-first for these exclusively-licensed bands. Prototype equipment is expected to be available in 4Q 2016.
PHAZR is developing affordable and sustainable 5G Millimeter wave systems capable of providing 128X faster experience and 1,024X more capacity compared to 4G LTE. Before founding PHAZR, Farooq Khan was President of Samsung Research America in Dallas, Texas, where he led high impact collaborative research projects in mobile technology, including 4G LTE and 5G millimeter wave programs. Khan, recognized as a leading authority in mobile technology holds over 200 U.S. patents, has written 50 research articles and a best-selling book, and presented over 100 speeches at professional forums worldwide.
For more information on PHAZR see www.phazr.net
FiberTower owns exclusively licensed wide-area authorizations in the 24GHz and 39GHz bands, where it develops and deploys an array of industry-leading high capacity solutions for carriers, enterprises, municipalities and government. FiberTower has a long history of investment in new technologies in the 24GHz and 39GHz bands.
For more information on FiberTower see www.fibertower.com
Forward Looking Statements
This news release includes "forward-looking" statements, as that term is defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, or SEC, in its rules, regulations and releases. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, including statements regarding, among other things, our financial and business prospects, anticipated customer growth, and expansion plans. There are many risks, uncertainties and other factors that can prevent the achievement of goals or cause results to differ materially from those expressed or implied by these forward-looking statements.
Joseph M. Sandri
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