The principals founded Omninet Group over 20 years ago. One of the first ventures was Omninet Communication Services, the developer of a revolutionary two-way mobile digital satellite communications system for the trucking industry called OmniTRACS. While mobile satellite communications are common today, this was a revolutionary endeavor in 1985.
From its inception, our principals were responsible for the management, strategic development, operations and financing of Omninet Communications Services. In its effort to develop a breakthrough technology, Omninet worked with a newly formed research and development company in San Diego to develop a revolutionary satellite communications system for the trucking industry.Omninet recognized the engineers working on the project were on the cutting edge of research and development in the wireless space and the two groups merged in the quest to expand the boundaries of wireless communications. This point of convergence jumpstarted Qualcomm’s journey toward becoming a leader in the wireless industry.
Based on the satellite communications technology, Qualcomm developed and commercialized the proprietary Code Division Multiple Access (CDMA) technology, which has become a standard for mobile communications. This development laid the foundation for Qualcomm to emerge as the worldwide leader in the wireless communications industry. Today, Qualcomm (NASDAQ: QCOM) is an S&P 500 company with a multi-billion dollar market capitalization. Our principals have served on its Board of Directors during its emergence as a significant player in the wireless industry.
Omninet has leveraged its experience and contacts in the technology world to opportunistically invest in new technology companies. Omninet is still focused on late-stage venture capital opportunities in the synergistic and converging fields of communications and internet technologies.
Omninet’s principals have also founded, operated and held management positions in a number of companies, including food packaging, aerospace, construction services and textile industries.
As the private investment firm of its principals, Omninet Capital is currently focused on taking advantage of the distress in the commercial real estate market. With experience across all property types including the construction of a $350 million condominium project, the firm is actively acquiring value-added commercial real estate across the United States. Omninet’s real estate strategy leverages the principals’ extensive operating experience to manage its real estate portfolio. By investing the principals’ capital, Omninet can quickly and efficiently close a transaction providing sellers with the certainty of close that is critical in today’s volatile financial markets.