UbiNetics, a leading supplier of third-generation mobile communications technology, is to unveil today a $26m (£15m) investment backed by 3i, the UK venture capital and private equity group.
The investment, which is thought to be the biggest technology financing deal since 2002, underscored the increasingly positive attitude of investors towards 3G technology.
UbiNetics, which makes telecommunications test equipment and designs chip sets for mobile phones, would use the funding to help complete its 3G development programme and bring the technology to market.
The Cambridge-based company sees the greatest potential for value creation in being an independent provider of 3G intellectual property in the handset market.
It supplies protocol software, chip-level design and handset reference designs to semiconductor companies and handset-makers.
Laurence Garrett, a director of 3i Technology and a former board member of Cambridge Silicon Radio, will become non-executive director at UbiNetics.
John Scarisbrick, currently a non-executive director of ARM, will also become a non-executive director.
UbiNetics, which has a significant presence in Japan, China and India, has increased its annual turnover from £2.3m to £28m since it was formed as a spin-out venture in 1999 from PA Consulting Group.
PA Consulting Group remains the largest shareholder in the company and also participated in this latest round of funding, alongside Herald Investment Trust and Fidelity as co-investors.
