Redline Communications
 | |
| Public | |
| Traded as | TSX: RDL |
| Industry | Communication equipment |
| Founded | Markham, ON (1999) |
| Headquarters | Markham, ON, Canada |
Key people |
Robert Williams, CEO |
| Products | wireless broadband network equipment |
| Revenue |
 41.4 million CDN (2014)[1] |
Number of employees | Approximately 130[2] |
| Website |
rdlcom |
Redline is a multinational wireless communications network designer and manufacturer headquartered in Markham, Ontario, Canada. It also maintains offices and operations in Florida, California, Romania and Oman.[3]
Redline Communications develops and sells wide-area industrial networks that operate over wide geographic areas. Redline sells wireless terminals that provide TCP/IP transport for fixed, portable and full-motion terrestrial and seaborne deployments as well as software, tools and services.
Redline Communications’ products and technologies are used in a variety of markets and industries, including Oil and Gas, Military, Government and Telecom Service providers. The company's networks are sold directly to end customers, and its wireless terminals are sold indirectly though resellers.
History
Redline was founded in 1999. Redline's first product, the AN-50 point-to-point wireless Ethernet bridge, was launched in February 2002.[4]
In October 2007, Redline Communications was listed on the Toronto Stock Exchange. While Redline's value grew quickly in its earlier years, growth tapered off shortly after their 2007 IPO, with shares on the Toronto Stock Exchange falling from a 2007 high of $6.50 to under $0.30 by 2009.[5]
With the discovery of accounting irregularities in April 2010,[5] Redline’s stock was cease-traded.[6] In August 2010 it restated its revenues for the four years 2006 to 2009.[7] Also in 2010, Redline Communications, along with KPMG LLP, its accountants at the time, was served with a class action lawsuit by investors alleging Redline overstated profits and downplayed costs in its financial statements.[8] The case settled in Sept 2011 and in November 2011 the Ontario Superior Court approved the agreement of a $3.1 million payment by Redline Communications and $500,000 by KPMG, neither of which admitted liability.[7]
Eric Melka, formerly president of Redline shareholder Telemedia Inc., became the company’s permanent CEO in January 2011,[5] replacing the management team and reducing overall staff. The company’s market emphasis shifted to oil and gas which by the end of 2012 represented 50% of the company’s revenue.[9] Melka's departure was announced in October 2012,[10] citing health reasons.[11] In December 2013, Robert Williams was appointed Redline CEO.[12]
On September 9, 2014, Redline Communications announced its purchase of the assets of PureWave Networks for $2 million.[13] Based in Santa Clara, California, the company was a developer of advanced, 4G LTE and WiMAX-based stations.[14]
Patents and technology
Redline products are based on a Universal Wireless Technology (UWT) platform,[15] a technology based on OFDM and developed by Redline. It serves as the foundation for a product family that operate both point-to-point and point-to multipoint to distribute high-capacity low-latency IP communications across wide areas and wide spectrum ranges.
Awards and Recognition
Redline was ranked 88th on the Branham Group Inc's list of 2015 Top 250 Canadian ICT Companies[16] and 6th on the list of 2015 Top Canadian Wireless Solutions Companies[17]
In January 2013, Redline was awarded the 2012 BSI Canada Award of Excellence for successful application of international standards helping to achieve record profits two years ahead of schedule.[18]
Redline was recognized as the Comeback Company of the Year for 2013 by BestinBiz[19]
In November 2012, Redline RAS Nomadic Platform was recognized by the Fierce Innovations Award program as the winner n the category of Backhaul Innovation[20]
See also
References
- ↑ "2015 Branham300 Online-Redline Communications details" (PDF). Branham300. February 6, 2013. Retrieved March 28, 2013.
- ↑ "Corporate Facts". Retrieved July 7, 2015.
- ↑ "Redline - Contact Redline". Retrieved July 9, 2015.
- ↑ "Redline Communications Starts Work on WiMAX". wi-fiplanet.com.
- 1 2 3 Dobby, Christine (29 March 2012). "Beleaguered Redline Communications back in the black". Financial Post. National Post. Retrieved 10 July 2015.
- ↑ "Redline Communications Group Inc. - Redline general cease trade order". newswire.ca.
- 1 2 Christine Dobby (3 May 2013). "Redline Communications returns from the brink". Financial Post.
- ↑ "Redline Communications Group Inc. in Class Actions - Siskinds Law Firm". Siskinds Law Firm.
- ↑ LuAnn LaSalle, The Canadian Press. "Redline Communications sees growth in wirelessly connected oil fields". Canadian Business - Your Source For Business News.
- ↑ "Redline Communications Announces CEO Transition and Board Appointment" (Press release). Toronto, Canada: Redline Communications. 11 October 2013. Retrieved 2015-07-10.
... announced that Eric Melka, its chief executive officer currently on medical leave, has advised of his plan to leave the Company by February 2014. Mr. Melka will remain an active member of Redline’s board of directors.
- ↑ Solomon, Howard (11 October 2013). "CEO of Canadian wireless equipment maker to step aside". IT World Canada. IDG.
- ↑ Solomon (10 December 2013). "Redline Communications names Robert Williams to chief executive, director". Canadian Business. Rogers.
- ↑ "Redline - News". rdlcom.com.
- ↑ https://www.crunchbase.com/organization/pure-wave-networks
- ↑ "New platform from Canadian wireless equipment maker". IT World Canada.
- ↑ https://www.branham300.com/index.php?year=2015&listing=1&offset=50
- ↑ https://www.branham300.com/index.php?year=2015&listing=10
- ↑ BSI. "Canadian technology company Redline Communications awarded for business excellence". BSI press release.
- ↑ "2013 International winners: Company categories". bestinbizawards.com.
- ↑ FierceMarkets Inc. "Fierce Innovation Awards Program Announces Winners & Finalists". GlobeNewswire News Room.