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Funding
led by Investcorp and Telesoft Partners to Support
BayPackets' Growing Customer Base of Global Telecommunications
Providers
FREMONT, Calif.- April 25, 2005
- BayPackets, Inc., a provider of enhanced voice and
data solutions for wireless, wireline and cable operators,
today announced that the company has raised a fourth
round of investment co-led by Investcorp and Telesoft
Partners. BayPackets will use the additional capital
to expand its sales and marketing activities globally,
bolster its customer support organization and extend
the capabilities of its Agility Network Services Platform
(NSP) - a software based service delivery platform
for developing and deploying revenue-generating services
in circuit-switched, packet, wireless and cable networks.
"BayPackets' multi-network service delivery
platform has proven critical to operators who need
to rapidly and economically deploy enhanced services
independent of their underlying network," said
Ken Epps, president and CEO of BayPackets. "This
financing will help BayPackets capitalize on its current
success, and expand to the next level as it supports
a growing base of customers migrating from legacy
to next generation Voice over IP (VoIP) and fixed
mobile solutions."
"BayPackets' technology has proven effective
in helping service providers to quickly grow top-line
revenues, increase return on network investments and
offer service differentiation," said Alex Guira,
partner at Investcorp. "The company's next phase
of development, focusing on fixed-mobile convergence
and collaboration, promises to bring even greater
returns to its customers. Investcorp looks forward
to being an active participant in BayPackets' growth
and continued market success in the years to come."
Telesoft Partners Managing Director George Schmitt
also joins BayPackets' board of directors as chairman
of the Board. George has over 40 years of broad telecom
experience in wireless and wireline companies. Most
recently, George was Chairman and Chief Executive
Officer of e.spire Communications, a provider of voice,
data and Internet services to markets throughout the
U.S. He has also served in executive management roles
at Omnipoint, LHS Group, Objective Systems Integrators,
PCS PrimeCo, AirTouch Communications, Mannesmann Mobilfunk
(Germany), Pacific Telesis, Pacific Telephone, and
AT&T. George received an M.S. in Management from
Stanford University, where he was a Sloan Fellow,
and a B.A. in Political Science from Saint Mary's
College.
"Telecommunications service providers are challenged
by declining growth in local and long distance revenue
and need new broadband and integrated wireless-wireline
services to grow profitably," said Schmitt. "BayPackets'
products directly address these needs, enabling service
providers to cost-effectively deliver integrated converged
communications services to their customers, thus expanding
their business and revenue opportunities."
The BayPackets Agility NSP and SIP Application Server
are IMS compliant service delivery platforms that
enable operators to rapidly generate new revenues
and better retain customers through highly differentiated
services and service bundles. These carrier-grade
service delivery platforms seamlessly operate on circuit-switched,
packet-based or converged networks. In addition to
applications such as Prepaid, Unified Messaging, Voice
VPN and Advanced Toll Free, BayPackets provides a
complete Software Development Kit (SDK) with tools
and resources to quickly build new services. The creation,
deployment, and management of applications and their
service logic are decoupled from the underlying network,
enabling operators to deliver and administer multiple
services on the same platform, all from a single point
in their network.
BayPackets has a diversified customer base of tier
one and two service providers in North America, Europe
and Asia utilizing its service delivery platform and
applications for consumer VoIP, business VoIP and
fixed mobile convergence. Customers include the largest
VoIP network provider in North America and the largest
broadband provider in Japan.
About BayPackets, Inc.
BayPackets' Agility Network Services Platform, Agility
SIP Application Server, and applications enable wireless,
wireline and cable operators to rapidly bundle and
deliver enhanced voice and data services tailored
to the needs of their business and consumer customers.
Local, long-distance and broadband carriers rely on
BayPackets' solutions to profitably expand their business
by efficiently operating new and existing network
infrastructure via a flexible and open standards-based
platform. Founded in February 2000, BayPackets is
a privately held company that has received funding
from industry-leading venture capital firms. The company
is headquartered in Fremont, CA, with a subsidiary
in Noida UP, India. For more information, visit BayPackets
at www.baypackets.com.
About Investcorp
Investcorp is a global investment group that has a
20-year history of private equity and venture capital
investments in North America and Europe. Investcorp's
transactions to date have a value of more than $20
billion. In the past three years, Investcorp has invested
more than $500 million in technology and telecommunication
businesses.
Investcorp's existing and past technology investments
include Stratus Computers, Independent Wireless One,
4thpass, and Mobileway. Investcorp's existing private
equity investments include Avecia, Gerresheimer Glas
AG and Welcome Break in Europe, and Neptune Technology
Group, Jostens and Werner Co. in the U.S.
Further information on Investcorp is available at
www.investcorp.com.
About TeleSoft Partners
TeleSoft Partners is a venture capital firm focused
on next generation communications and information
technology companies. TeleSoft manages capital commitments
of $625+ million and focuses on systems, software
and components. Over the last decade, TeleSoft and
its principals have funded and helped build 50+ portfolio
companies resulting in 20+ acquisitions and IPOs.
Example portfolio companies include Bombay Cellular
(acquired by Hutchison), Catamaran (acquired by Infineon),
Cerent (acquired by Cisco), Internet Photonics (acquired
by Ciena), iWitness (acquired by Zantaz), Kymata (acquired
by Alcatel), Lara (acquired by Cypress), Promatory
(acquired by Nortel), VxTel (acquired by Intel), as
well as the following companies which have had initial
public offerings: Omnipoint, OSI, Provide Commerce,
and SigmaTel. TeleSoft's Corporate Partners are AllTel
and Bechtel in the US, Deutsche Telekom in Europe
and Comverse in Israel.
For more information, visit http://www.telesoftvc.com.
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For more information, please
contact:
Jennifer Deitsch
BayPackets, Inc.
925-831-2092
jennifer.deitsch@baypackets.com
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