Security News > 2021 > March > Airspan enters into agreement with NBA to expand 5G market

Airspan Networks has entered into a definitive business combination agreement with and into New Beginnings Acquisition.

These trends are expected to provide Airspan with an opportunity to take market share from the legacy network providers and enter new high growth market segments such as Private 5G and Fixed Wireless Access, which are addressable markets in the new telecom paradigm.

"These seismic 5G industry trends play right into Airspan's strengths," said Eric Stonestrom, President and CEO of Airspan.

Airspan Technology "Key Enabler" of 5G. "Dense, software-centric 5G network builds are crucial for telcos today. Airspan's technology is a key enabler in this space, which is why SoftBank has invested in Airspan over multiple rounds," said Michel Combes, President SoftBank Group International.

"We are delighted to partner with Airspan, a first mover in this exciting and rapidly expanding new 5G market," said Michael Liebowitz, CEO and Director of New Beginnings Acquisition Corp. "As 5G networks are rolled out, Airspan is leading the way with its breakthrough Open RAN technology with significant potential for growth serving incumbent and emerging carriers, and also addressing new"private 5G" segments including in building 5G, Distributed Antenna System building replacements, connected and autonomous vehicles, automated port operations, air-to-ground in-flight connectivity, Smart Industry 4.0 factories and optimized Smart Grid driven utilities.

Cash proceeds are expected to be used to accelerate Airspan's 5G revenue growth, to expand its product portfolio, and for working capital to fund increasing demand.

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