Airspan Networks

Airspan Networks Inc.

Company type	Private Company
Industry	Telecommunications equipment
Founded	January 30, 1998 (1998-01-30)
Headquarters	Boca Raton, Florida
Key people	Glenn Laxdal, CEO & President David Brant, CFO
Number of employees	800 (Dec 31, 2020)
Website	www.airspan.com

Airspan Networks is a U.S.-based telecom firm operating out of Boca Raton, Florida. The company designs Radio Access Network solutions, including Sprint’s 'Magic Box' and both small cell and macro cell technologies utilized in the Rakuten virtualized network infrastructure.

Originally part of DSC Communications, Airspan’s initial focus was on CDMA radio platforms tailored for fixed wireless applications. It spun off as an independent entity in 1998 with Eric Stonestrom assuming the roles of CEO and President.

The firm concentrates on providing small cell and mini-macro hardware to mobile carriers aiming to enhance wireless coverage. Its acquisition of Mimosa Networks in 2018 broadened its offerings to include fixed wireless technologies servicing commercial enterprises and network operators, supporting both wireless backhaul and access functionalities.

Airspan’s 5G New Radio (NR) initiatives encompass mmWave, Sub-6 GHz bands, Massive MIMO technology, and Open Virtual RAN frameworks. Through Mimosa’s product line, it delivers fixed wireless access and backhaul solutions suitable for point-to-point and point-to-multipoint configurations.

In March 2019, Airspan formed a collaboration with Google to advance CBRS service deployment. By August 2021, it finalized a business combination with New Beginnings Acquisition Corp., adopting the name Airspan Networks Holdings Inc. and initiating trading on the NYSE American exchange under the symbol "MIMO."

History

Established in January 1998, Airspan appointed Eric D. Stonestrom as president and CEO by May that year. Its first offering was the AS4020 platform, which leveraged CDMA radio technology customized for fixed wireless access.

The company went public in July 2000 during the aftermath of the dot-com crash, successfully raising $82.5 million through its IPO; its stock price increased by 113% on opening day.

By 2004, Airspan had teamed up with Neda Telecommunications to install radio systems in Kabul, Afghanistan. It introduced its WiMAX product suite towards the end of 2005.

In September 2006, Oak Investment Partners injected $29 million into the company, signaling confidence in its expansion plans. In 2010, it partnered with LightSquared to promote wireless spectrum at 1.4 GHz aimed at U.S. utilities for Smart Grid implementations.

The company was removed from NASDAQ in 2009 but announced intentions to return via a reverse merger with New Beginnings Acquisition Corporation (a SPAC) in March 2021. This merger closed in August 2021, resulting in a rebranding as Airspan Networks Holdings Inc., with shares listed on NYSE American under ticker MIMO.

Glenn Laxdal was appointed CEO in May 2023, marking a new phase of strategic direction. That same year, Airspan divested Mimosa Networks to Indian telecom leader JIO for $60 million through JIO’s subsidiary Radisys Corporation.

In March 2024, Airspan declared plans to transition into private ownership after securing up to $95 million in fresh equity funding. Following this, its stock was delisted from NYSE and the company filed for voluntary prepackaged Chapter 11 bankruptcy to facilitate restructuring efforts.

Awards and recognition

Since 2007, Airspan has achieved notable industry accolades, beginning with the 'Best of WiMAX World USA Award' for its MiMAX solution. Together with collaborators such as Jio and Sprint, the company secured several Small Cell Forum (SCF) Awards for Excellence in Commercial Deployment between 2018 and 2021, emphasizing its pioneering role in urban, residential, and 5G OpenRANGE mmWave small cell innovations. Furthermore, Airspan and Sprint were honored with the “Best Mobile Technology Breakthrough” at the 2018 GLOMO Awards, highlighting the firm's technological advancements and strong position in wireless infrastructure.