Innovacom Joins Series A Funding for VoiceAge Networks
16.06.2005 / 08:57 / Rubriek: Informatief / Organisatie: Voiceage networks
Innovacom Joins Series A Funding for VoiceAge Networks
MONTREAL, Canada, June 16/PRNewswire/ --
VoiceAge Networks Corporation, a leader in multimedia content adaptation, today announced it has received a USD$2 million investment from Innovacom, the venture capital subsidiary of France Telecom. This strategic funding is an add-on to the USD$10 million Series A financing that VoiceAge Networks initially closed in November 2004, led by BCE Capital (affiliate of Bell Canada Enterprises) and partners Entrepia Ventures, BDC Venture Capital, and VoiceAge Corporation.
VoiceAge Networks also confirmed that its SPOTxde(R) Server rich media adaptation solution had been successfully deployed for a number of Tier 1 and Tier 2 service providers in recent months. Providing both network and device level interoperability, these installations will guarantee optimized delivery of content and full multimedia messages to an aggregate of well over 100 million mobile subscribers worldwide.
'VoiceAge Networks is a clear leader in rich media content adaptation with proven deployments by Tier 1 service providers. Their solution answers a real and growing pain point in the market. We truly believe that they have the best technology out there and will continue to be adopted by a very fast growing customer base, which creates an enormous opportunity for the company', said Frédéric Veyssière, General Partner with Innovacom.
'This add-on investment is of great importance to VoiceAge Networks. Innovacom is a highly valued investor that will help us accelerate our expansion in Europe and other parts of the world. They have an excellent track- record in helping build successful ventures. Their participation in our company is a clear sign of confidence regarding our long-term growth prospects', said Jean Mayrand, Chief Executive Officer of VoiceAge Networks.
In addition, the company announced the appointment of Frédéric Veyssière to its board of directors. Mr. Veyssière is joined by existing directors Joe Catalfamo of BCE Capital, Amitabh Srivastava of Entrepia Ventures, Sylvain Desjardins of VoiceAge Corporation, Gary R. Donahee, and Jean Mayrand and Allan Benchetrit, co-founders and respectively CEO and COO of VoiceAge Networks.
ABOUT Innovacom
For over seventeen years, Innovacom has invested in the entrepreneurs building the telecom and information technologies of tomorrow. Innovacom works with some of the brightest minds in the business, the early stage companies focused on the components, hardware, software and content that improve the ability of telecom carriers to deliver services. As the venture subsidiary of France Telecom, Innovacom is uniquely positioned to help its portfolio companies not only with capital, but with connections to the best research and deployment facilities in Europe and North America. Past investments include Business Objects, Cobalt Networks, Gemplus, Infovista, Intershop, Kelkoo, Soitec, and Tumbleweed. With 400 million Euros under management, Innovacom has offices in Paris, Stockholm, and San Francisco. For more information, visit www.innovacom.com .
ABOUT VoiceAge Networks
VoiceAge Networks is a leading solution provider in the emerging multimedia content adaptation market, a technology that addresses the impediments to the seamless delivery of mobile rich-media services, including MMS. Its carrier-grade product, SPOTxde(R) Server, effectively eliminates device and network interoperability errors while allowing virtually all devices to participate in revenue generating value-added services. Offering carrier grade high availability, linear scalability, and exceptional performance, SPOTxde(R) Server can be implemented as a Single Point of Transcoding in the network and be used for all of the content adaptation needs of Mobile Network Operators and Content Service Providers. VoiceAge Networks participates and supports such standards bodies as 3GPP, 3GPP2, and the Open Mobile Alliance (OMA), and chairs the OMA sub-committee for the Standard Transcoding Interface (STI).
Source: VoiceAge Networks Corporation
For further information: VoiceAge Networks, Contact: Stéphane Vidal, Director of Marketing, +1-(514)-866-1717 x250, www.voiceagenetworks.com