Broadband Networks Inc.
Broadband Networks Inc. was a leader in the design and manufacture of broadband wireless networks operating at frequencies of between 2 and 42 gigahertz (GHz). Founded in 1994, BNI skyrocketed in 3 short years in this expansive new market sector – deploying systems in Canada, U.S., Europe, Asia and Latin America. Whitecap provided the first venture capital in 1996 and was very active in helping this dynamic young company handle its explosive growth, including assisting in executive recruitment, financing, mergers and acquisitions and strategic planning. BNI, headquartered in Winnipeg, Canada, under Whitecap’s direction, attracted strategic investment from both Newbridge Networks and Siemens. In 1998, just prior to an anticipated IPO, BNI was sold to Northern Telecom (NYSE:NT). It was the first significant acquisition that Nortel had made. Whitecap led negotiations on behalf of BNI.