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General

ECI spins off Celtro as independent company

Friday 12 September 2003 | 00:00 CET | News
ECI Telecom, telecoms system provider, said it is spinning off ECI-celtro, backhaul mobile networks solution provider, as an independent privately-held firm called Celtro. The spinoff was led by Momentum Management, venture group. Financing was raised from Discount Capital, Cedar Fund and Genesis Partners, all investors. ECI will keep a minority stake in the new company. Celtro's DynaMate system for GSM infrastructure allows cellular operators to boost their subscriber bases while decreasing infrastructure resources.

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Categories: General
Companies: ECI
Countries: Israel
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