[March 14, 2005] Aepona Announces $20 Million Funding Transaction Tweet CITA WIRELESS 2005, NEW ORLEANS, La., Stand 2325, Hall C - Aepona Ltd., a telecommunications software developer, today announced the completion of an investment of $20 million in its business by leading venture capital companies, designed to enable the company to exploit its position as the leading global player in a market valued at US$750 million over the next five years. The deal is believed to be the biggest equity funding round for a Northern Ireland technology company for 10 years. The lead investor is Polaris Ventures, a Boston-based firm that has played a lead role in developing some of the most successful information technology and life sciences companies in the United States and Europe. Other investors in Aepona include Amadeus Capital Partners (UK), Trinity Venture Capital (Ireland) and Invest Northern Ireland. Aepona plans to use the new funding to strengthen its sales and marketing operations in Europe, the Americas, SE Asia and Japan. It will also enable the company to focus greater resources on the development of its Causeway™ carrier-network operating system that allows global telecoms operators to introduce new revenue generating customer services faster and more cost effectively than was possible previously. The Belfast firm is the market leader in this field despite the fact that its competitors include leading network equipment vendors such as Alcatel and Ericsson. Currently employing 140 people, Aepona has recently won deals from a number of major new clients – including Tokyo-based NEC Corporation, E-Plus, Germany’s third largest mobile network operator and Eircom in the Republic of Ireland. In recent months, it has also established important relationships with international partners including Microsoft, Hewlett-Packard and Oracle – all of which embed Aepona technology in broader solutions aimed at telecommunications operators. According to Aepona CEO, Liam McQuillan, the funding transaction announced today is a powerful validation of the company’s technology and business strategy at a time when the pressure is on telecoms operators to generate new income and reduce capital expenditure. “We’re particularly delighted that Polaris Ventures has decided to play a leading role in taking Aepona forward to the next stage of its development,“ said McQuillan. “We believe that the real value of Polaris’s involvement to us is about much more than providing access to funding. The firm’s proactive contribution to the management and future direction of our company is a very exciting prospect given its highly successful track record with its portfolio companies.” "Our investment in Aepona reflects the fact that Polaris provides funding to companies with sound and well executed business plans and growing traction in fast growth markets. Aepona's suite of products provides it with real competitive advantage in the telecommunications carrier market worldwide,” said Bob Geiman, principal of Polaris Ventures, who will be joining Aepona’s Board. “Aepona Causeway represents a compelling way forward for telecommunications operators - it provides those operators with a future-proofed route into new and highly attractive service offerings. Operators adopting Causeway can get to market faster using a wider pool of developers. With such strong products, and a focused management team that is making the numbers, we are delighted with our investment decision and know that Aepona will continue to develop and grow shareholder value.” [ Back To TMCnet.com's Homepage ]