Apax, CMVT, and Optibase help Mobixell Networks Inc. Complete $6.0 Million 1st Round Funding
quote.bloomberg.com
Mobixell Networks Inc. Completes $6.0 Million First Round Funding
The Round Was Led by Apax Partners Funds With the Participation of Comverse And Optibase
HERZLIYA, Israel, Dec. 13 /PRNewswire/ -- Mobixell Networks Corporation, today announced that it has raised $6.0 million in its first round of financing from major global investors. The round was led by Apax Partners Funds, one of the world's leading private equity investment groups, Comverse Technology Inc. (Nasdaq: CMVT) the world leader in multimedia enhanced services and software, and Optibase Ltd. (Nasdaq: OBAS) a world leader in broadband media streaming solutions.
Mobixell Networks Inc. was founded by two industry experts, Amir Aharoni, former President and COO of Optibase Ltd. and Yehuda Elmaliach, one of the founders and until recently Chief Technology Officer of Optibase. Under the terms of the agreement Optibase has obtained membership in Mobixell's Board of Directors and a right to increase its equity stake in the next financing round. Prior to the financing round Optibase has licensed to Mobixell certain MPEG-4 technologies in exchange for equity stake in Mobixell, and had increased its interest in the Company by participating in the financing round.
Mobixell delivers a next-generation Media Aware Mobile Internet platform, enabling Wireless operators and service providers to offer Rich-Media value-added Internet-based services. The platform is designed to ensure highest service availability as well as secure and fast connectivity. Subscribers can enjoy interactive, on-screen, access to Internet and Intranet-based value-added services, such as Icons and Images, Animation, Streaming audio, Streaming video and more. The solution is fully compliant with the dominant industry standards for rich media delivery including MPEG-4, RTP and RTSP. With the Mobixell platform Wireless Network Operators can differentiate services to various users thus increase revenue. The Mobixell platform is seamlessly integrated with the operator's billing, customer care and management systems thus reducing the total cost of ownership and maintenance.
"We are excited about partnering with this strong group of global investors who occupy strategic positions in their respective markets," said Amir Aharoni, President and CEO of Mobixell Networks. "I believe that Optibase's unique MPEG-4 encoding, transcoding and streaming technologies with Comverse's leadership position in the cellular operators market and with Apax Partners' track record and leading role in the European market, we will gain leadership in the rich-media infrastructure markets."
Oren Zeev of Apax Partners said, "This is another investment by Apax Partners Funds in Israel. Our strong global network has already and will continue to support Mobixell's rapid growth."
"We are confident that Optibase's investment in Mobixell serves to expand our technology into the promising wireless market segment," Said Ran Eisenberg President and CEO of Optibase Ltd. "Licensing a portion of our MPEG-4 and transcoding technologies in return for equity in Mobixell, signifies our belief in the enormous potential in the wireless and cellular markets as well as in Mobixell Networks," added Mr. Eisenberg.
Support from this investor group reinforces Mobixell's vision to become the leader in Mobile Internet infrastructure for Rich Media distribution serving Wireless Operators and Wireless VAS (Value-Added Services) marketplaces.
About Mobixell Networks Inc.
Mobixell Networks Corporation, with its R&D based in Herzliya, ISRAEL, develops rich-media infrastructure platform enabling cellular operators to offer enhanced services. Mobixell's products enable optimized transcoding and delivery of different types of rich-media to diverse devices including PDAs, Web appliances, PCs and cell phones. Mobixell Networks Inc. was founded in late 2000, by two industry experts Amir Aharoni until recently the President and COO of Optibase Ltd. and Yehuda Elmaliach, one of the founders and until recently the Chief Technology Officer of Optibase. Mobixell Networks recently raised $6.0 million in first round of financing from Apax Partners, one of the world's leading private equity investment groups and from its two strategic investors, Optibase Ltd. and Comverse Technology Inc. For more information, contact Mobixell Networks via email at info@mobixell.com or visit our web site at www.mobixell.com.
About Comverse Technology, Inc.
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Visit Comverse Technology's web site at comverse.com .
About Optibase
Optibase provides high-quality, cost-effective products that enable the preparation and delivery of MPEG-based digital media over broadband networks. Optibase has created a breadth of product offerings used in applications which involve the delivery of video over broadband networks, such as digital video archiving, distance learning and business television. Headquartered in Israel, Optibase operates through its fully owned subsidiary in San Jose (CA) and offices in the UK, France, China and Japan. Optibase products are marketed in over 40 countries through a combination of direct sales, independent distributors, system integrators and OEM partners.
For more information, please visit Optibase's web site at
www.optibase.com.
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It pursues a balanced portfolio strategy, investing in companies at all stages of development from start-up to buy-outs. Founded in 1972 in the United Stated and in Europe, Apax Partners currently has over $7 billion under management or advice on behalf of leading institutional investors around the world. Apax Partners has 160 investment professionals in thirteen offices in the United States, Europe, Japan and Israel.
Apax Partners investments include Autonomy Corporation; Jazztel; Dialog Semiconductor, Arc International; Digital Bridges; Centerbeam; and Bolero.net and worldwide, and in Israel, Ceragon Networks, CommTouch, Compugen, D-Pharm, EZchip, Foxcom Wireless, Fundtech, tdSoft, One Path and more. Funds advised by the Group have investments in over 250 companies worldwide.
The three Israeli partners are Allan Barkat responsible for the telecom industry, Amos Goren responsible for healthcare and Oren Zeev responsible for Information Technology.
www.apax.com
SOURCE Mobixell Networks Corporation
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