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Friday, Apr 26, 2024

Samsung Ventures Invests in Area WiFi Company

Strix Systems has received an investment from Samsung Ventures America to create a partnership between Strix and Samsung Electronics, the company announced Tuesday. The undisclosed amount given to the Calabasas-based wire mesh networking company comes from the U.S.-based venture capital investment arm for Samsung Venture Investment Corp. Strix Chairman and CEO Bruce Brown said the investment is a testament to the strength of the company’s technology and allows it to address the immediate and future revenue opportunities in WiFi mesh. Strix was chosen for the investment for its innovative technology and industry leader performance, said Brian Kang, investment principal of Samsung Ventures America, in a statement. “Our strategic investment in Strix represents our commitment to the convergence of industry leading wireless technologies and the ability to address the intense demand for mobile, voice and data services,” Kang said.

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