Azimuth announces funding, CEO transition
-- Test & Measurement World, 12/14/2006 4:52:00 AM
Azimuth Systems, a provider of WiFi engineering test equipment, has announced that it has received $7.5 million in new venture capital funding from its current investors and that Jim Iuliano will join the company as CEO. The company said the new funding and management change will prepare company for expansion into the WiMax and cellular markets.
The company reported that more than 100 wireless semiconductor makers, system vendors, and service providers--including Atheros, Broadcom, Cisco, Marvell, Motorola, and T-Mobile--employ Azimuth’s test systems, adding that according to market research firm ABI Research, Azimuth customers account for more than 95% of the WiFi products that ship worldwide.
“Azimuth has developed key intellectual property, pioneered the WiFi test equipment market, and established itself as the leader in its space,” said founding CEO Ray Cronin. “Jim Iuliano’s successful experience scaling systems businesses will enable Azimuth to accelerate its growth. We worked hard to find the right person to take us to the next level, and I look forward to working closely with Jim over the coming months to transition leadership of Azimuth during our significant growth phase.”
Iuliano has been CEO for both public and private technology companies for more than a decade. Previously, he was chief executive officer of E Ink Corporation, taking the company from start-up into commercialization, building a global presence, and securing strategic alliances with Sony, Philips Electronics, and Lucent, among others. Prior to E Ink, Iuliano was president and CEO of Molecular Devices, where he led the company through a period of sustained growth and profitability, delivering 20 consecutive quarters of record revenues and profitability. He was instrumental in orchestrating the measurement system company’s IPO. Most recently, Iuliano was an entrepreneur in residence at North Bridge Venture Partners.
“Azimuth is extremely well positioned in the WiFi industry and for expansion into the WiMax and cellular markets,” said Iuliano. “Ray has done a great job leading the company from concept to market leader, and I’m excited to build upon the many successes the team has achieved.”
“Azimuth is clearly positioned as the premier provider of test solutions for WiFi devices and networks supporting data, voice and video applications,” said Jesse Cavazos, industry manager for communications test & measurement at Frost & Sullivan. “Their solid technology and business foundation provides them with significant growth prospects in new wireless markets.”
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