ECI Telecom (Nasdaq:ECIL) has begun preparing a financing round for its startup Celtro, which develops solutions for the optimization of cellular network transmission infrastructures.
Celtro is part of ECI's Next Generation Telephony Solutions division.
Like other ECI divisions, Celtro is also reorganizing. Once the startup's financing round has been complete, ECI plans to spin it off.
Celtro CEO Eli Bortman said today that Celtro's future operation could be patterned on a variety of models. But until the firm's restructuring is complete, he prefers not to volunteer additional details.
ECI wants to translate its fixed network experience into cellular via Celtro, in order to optimize cellular network transmission. Celtro's product should soon enter its beta phase.
Meanwhile, Celtro is operating very quietly. Nobody TheMarker.com spoke to had ever heard of it, including ECI staffers. ECI's website offers no information on Celtro. Even two ECI division CEOs claimed never to have heard of it.
Bortman wouldn't divulge how large the Celtro staff is, but it is apparently less than ten.