TA Associates announced today that it has committed $113 million in capital to help boost the market reach of Boulder, Colorado-based FreeWave Technologies, a leading independent designer and manufacturer of commercial and military-grade wireless radio products and services. The company’s wireless products are used in a number of sectors, including the oil and gas, military, security, and agriculture industries.
Vivian Wu, a principal at TA Associates, will join FreeWave’s board of directors. “We are excited to invest in FreeWave, which has an enviable record of growth, financial success and technical innovation,” she said in a statement.
With the increasing ubiquity of mobile and wireless technology, FreeWave is poised to capitalize on the fast-growing market for wireless infrastructure products. In a statement, Jonathan Sawyer, FreeWave CTO and chairman, said the company plans to work with TA “to leverage their financial support and investment experience to continue developing superior radio solutions for our customers.”
TA Associates, based in Boston and founded in 1968, currently manages about $10 billion in capital and focuses on growing technology and communications companies, but also invests in financial services, business services, and healthcare companies, as well as consumer businesses. The firm closed its most recent fund, TA X, on $3.5 billion in March of 2006, and also has offices in Menlo Park, Calif., and London.