"Quortus Ltd, a leading provider of innovative private edge, 4G and 5G network solutions, today announced it has secured strategic investment from Communications Systems, Inc. (NASDAQ: JCS), a US-based IoT intelligent edge products and services company (CSI), and cellXion Ltd, a UK-based provider of specialist telecoms solutions to drive its ongoing global expansion and technology innovation.
The injection of capital will allow Quortus to accelerate its growth in North America, Europe and Japan by capitalising on the growing demand for private wireless networks across all market sectors.
Quortus creates agile and feature-rich private wireless networks for enterprises, industry and government organisations, supporting many Industry 4.0 applications and bespoke use cases across a wide variety of vertical sectors including manufacturing, retail and utilities.
In tandem with the funding news, Quortus today also launched a new and complementary product portfolio, supporting the deployment of private wireless networks spanning 5G, LTE(4G), 3G and GSM.
""These announcements mark a major milestone for Quortus. We have just enjoyed a successful year, signing long-term contracts with some of the biggest technology companies in the world. We now have a fantastic opportunity, working in close strategic partnership with CSI and cellXion, to grow our position in private wireless network solutions,"" says Mark Bole, CEO at Quortus. ""We are perfectly placed to capitalise on the growing global demand and spectrum availability for private wireless networks and have the product capabilities, working with our channel partner ecosystem, to deliver significant competitive advantage to organisations in our target markets.""
Roger Lacey, CEO of CSI noted, ""This strategic partnership with Quortus and cellXion will provide our mutual clients with a range of comprehensive solutions designed to help build their mobile edge capabilities as well as supporting a wide array of industrial IoT initiatives.""
The new product portfolio includes:
ECX Core range for private mobile networks targeting Enterprise and Industrial
ECX Edge range for private edge (MEC) network deployments
ECX Pack range for private mobile networks in Government, blue light and defence sectors
ECX Access range for managed access solutions in secure facilities and defined areas
ECX Gateway range for optimisation of distributed private mobile networks
Bole continues: ""The range of our product portfolio highlights the scale of the exciting global opportunity we face. Our technology helps organisations benefit from advancements like mobile edge computing, industrial IoT applications and helps them maximise the benefits of private 5G. We look forward to continuing to bring innovation to market, through our select and highly valued global partner network.""
Industry analysts SNS Telecom and IT expect global spending on private LTE and 5G networks to reach $4.7 billion by the end of this year - a number which it expects to almost double to nearly $8 billion by the end of 2023."