Deals
The Race to the Speed of Light Is Accelerating
- Tower purchases a 5% stake in the company, while IMC owns 20%
- New Line Networks, Vigilant also build microwave networks
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Tower Research Capital LLC has bought a stake in a company that builds microwave radio systems for buying and selling in electronic markets, helping the network operator compete in a race to transmit data at speeds ever closer to the speed of light.
Tower bought a 5 percent share of McKay Brothers, a small, closely held firm that designs data networks for trading companies from its offices in Oakland, California, Geneva and Paris, according to an e-mailed statement on Wednesday. Dutch firm IMC BV bought a 20 percent stake last year. The amount of the investment was not disclosed.