WFII, Success Story of the YEAR
Breaking News 1/28 5:35pm-Success Story of the Year!
Friday January 28, 05:35 PM Eastern time
Company Press Release
Wireless Facilities Inc. ''WFI' Announced the Venture Capital Success Story of the Year; WFI's Compelling Story and High Success Rate Prove to be Winning Factors
SAN DIEGO--(BUSINESS WIRE)--Jan. 28, 2000--Wireless Facilities Inc. (WFI) (Nasdaq:WFII) was announced the winner of the San Diego Venture Group's 5th annual Venture Capital Success Story of the Year award.
At a ceremony attended by over 400 entrepreneurs, venture capitalists and other professionals from the funding community, Dennis Doucette, president of the Venture Group, presented WFI Chief Executive Officer Massih Tayebi the award. WFI was selected from 10 nominated companies, including 1-800 Call Doc, Captiva Software, CFY Biomedicals Inc., DNA Dynamics Inc., Ensemble Communications, Ixsys, NeoPoint Inc., Nereus Pharmaceuticals and Vitagen Inc. The nomination criteria included the following:
Headquartered in San Diego County Received institutional venture capital investment Independent entity (public or private) If publicly held, IPO within the past two years
The four-person panel of venture capitalists and investment bankers from the Venture Group Board based their decision on demonstrated persistence, market presence, the venture capital story, technology leadership and future potential.
Past winners of the award include AMCC (1998/Public), Nuera Communications (1998/Private), Copper Mountain Networks (1997), SCS Corp. (1996) and Sequal Technologies Inc. (1995).
"We're honored to be recognized as San Diego's venture capital success story of the year," said Massih Tayebi, CEO of WFI. "WFI is where it is today through the dedicated support and hard work of our most valuable resources -- our employees."
WFI, founded in 1994 by brothers Massih and Masood Tayebi during a time when wireless telecommunications was just coming into its own, capitalized on the explosive opportunity within this emerging industry. The brothers self-financed the start-up of WFI, assuming 100 of the financial risk involved in the initial marketing, recruiting, and project execution. After five profitable years and the 10th most successful IPO debut in U.S. history, WFI is positioned to continue to take advantage of the wireless telecom and data opportunities.
About Wireless Facilities
A global leader in telecommunications outsourcing, Wireless Facilities Inc. designs, deploys and manages wireless networks for some of the largest telecom carriers and equipment suppliers worldwide. Specializing in network architecture and dimensioning of mobile and high speed wireless data systems, WFI provides a complete range of network services -- from business and market planning to RF engineering, fixed network engineering, site acquisition and development, installation, optimization and maintenance.
Headquartered in San Diego, WFI has grown to more than 900 employees and has performed work in 26 countries since the company was founded in late 1994. The company has offices in Washington, D.C., Mexico City, Sao Paulo, New Delhi and London. News and information are available at www.wfinet.com.
About The San Diego Venture Group
The San Diego Venture Group is a monthly forum for professionals who are involved with new enterprise and the process of creating it. Early stage companies in the high-tech and biotech/biomed sectors are represented among the group's membership as well as a wide variety of funding and recipient organizations.
The San Diego Venture Group counts among its constituents venture capitalists, investment bankers, angel investors and service providers that operate within the financial infrastructure. Monthly meeting topics range from managing corporate turn-arounds to advice on how to get funding if you are not a dot.com. The San Diego Venture Group's overriding theme is to promote the development of San Diego's emerging growth companies.
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