A Fountain Valley company backed by Kingston Technology Co.’s David Sun is looking to go long in wireless networking.
Azonic Systems Inc. wants a piece of what’s called WiMax, a way of linking to the Internet that’s similar to wireless fidelity but with a wider reach and more dependability.
The company rolled out its products early this year and says it could have sales of about $7 million next year as it targets small and midsize businesses.
Azonic sells base stations and software for WiMax networks.
The company, which for now sits on the campus of memory module maker Kingston, is looking for a second round of angel investments or an initial round of venture capital. Company officials wouldn’t give specifics.
It helps that the company already has the backing of Sun, cofounder and chief operating officer of Kingston, the largest maker of memory products with more than $3 billion in yearly revenue.
“Sun is one of the largest private investors of the company,” said Steve Chen, chief executive of Azonic.
Chen and his two cofounders have experience at Kingston, chipmaker Broadcom Corp. in Irvine and at Japan’s Canon Inc.
Big growth is projected for WiMax.
The market could grow from $637 million this year to more than $1 billion within two years, according to Montreal-based market researcher Maravedis Inc.
WiMax networks can be set up to cover entire cities. Laptop computer users can log onto the Internet anywhere in town, just as they might at the local coffee house.
For more on this story, see the Aug. 2 edition of the Business Journal.
