Interact Inc. Added to NewNet Communication Technologies Portfolio with Skyview Capital Acquistion
February 22, 2013
By Rachel Ramsey
, TMCnet Web Editor
Interact Inc. is a provider of hosted IVR systems, cloud communications solutions, custom application development and an Invigorate billing and rating platform for global organizations to improve communications for any business need.
NewNet (News - Alert) Communication Technologies, a provider of innovative solutions for next-generation mobile, fixed line networks and credit card processing and a portfolio company of Skyview Capital, acquired Interact this week, representing a significant milestone in the evolution of NewNet’s product portfolio and market focus.
Interact’s products and offerings of IVR platforms and hosted IVR systems will be a key addition to NewCom’s TraxcomSecure and mobile messaging technologies. TraxcomSecure is a product portfolio that provides robust solutions for electronic transaction processing solutions, including mobile payments, e-banking and e-commerce.
“Our acquisition of the Interact business will enable NewNet to provide IVR and billing solutions to service providers, enhancing our competitive position and accelerating our commercial growth,” said PJ Louis, CEO, NewNet, in a statement. “NewNet is committed to proving best in breed products and unrivaled service and support to our global customer base.”
NewNet’s Mercury mobile multimedia platform, recipient of the GSMA (News - Alert) Innovation Award, enables content and service providers (CSPs) to deliver rich multimedia content to all subscribers, quickly and easily. Its holistic, next-generation, multimedia delivery platform enables content and service providers (CSPs) to unlock new revenue streams blocked by legacy business models and dramatically increase their profit margins. The platform will rapidly drive new mobile multimedia services, increase subscriber usage and drive revenue growth.
“Interact believes that NewNet is best positioned to capture the market by merging our technologies and services,” said Lynn McKee, previous CEO of Interact. “We are excited that NewNet has emerged to take the business we have built to its next stage through continued investment and aggressive marketing on a global basis,” Greg Gissler, founder of Interact, added.
Interact is also a provider of Nimblevox, a cost-effective cloud communications solution that lets users bring voice and SMS applications to market faster, with less risk and at a lower cost of ownership. It comes with advanced features that separate it from the competition, including automatic speech recognition, text-to-speech, answering machine detection, outbound dialing, SMS solutions and APIs.
“The Interact acquisition signifies yet another milestone in the exponential development of NewNet, since our initial investment in 2007,” said Alex Soltani, chairman and CEO of Skyview Capital. “In fact, through the combination of organic growth and strategic acquisitions, NewNet has grown by nearly 1,200 percent since Skyview took ownership of the platform. Interact’s suite of products and services combined with NewNet’s existing portfolio of messaging, signaling and secure transaction applications will enable NewNet to offer our global customers an even broader range of communication solutions.”
Edited by Jamie Epstein