WELLINGTON, New Zealand and TEL AVIV, Israel, July 31, 2012 /PRNewswire/ --
4RF Limited, the developer of high performance radio communications equipment for critical infrastructure applications, announces investment from leading private equity fund Fortissimo Capital. As a result 4RF will expand its workforce and accelerate the company's product development and sales globally.
4RF, headquartered in Wellington, New Zealand, develops and manufactures highly robust radio communications equipment for utility, public safety and oil and gas applications. With this funding, the company's customers in more than 130 countries around the world will benefit from a greatly accelerated company Growth Plan, with an expanded product range and faster time to market.
Ian Troughton, CEO of 4RF Limited, comments: "We are seeing a huge demand for our products, and in the last year our sales have increased by nearly 60%. We are absolutely thrilled that a leading growth investor in the world's second largest venture capital market, and indeed the recognised home of wireless technology, has chosen to invest in 4RF. This investment by Fortissimo marks the end of a process that we started almost a year ago. Fortissimo is an ideal partner for 4RF as they share our vision for growth. This is great news for our customers - with Fortissimo we will be able to accelerate our delivery of new products to the market."4RF is accelerating its growth in three ways:
- Speeding up the development and launch of next generation products through a doubling of its R&D team
- Adding new variants to the existing product range to address new geographies
- Growing sales, marketing and systems engineering to support new business