Iaxis Raises $66 Million For European Backbone

Carrier is working with Juniper to sell value-added services over its European backbone

March 22, 2000

1 Min Read

A consortium of investors led by Bain Capital, Inc. of Boston has invested $66 million in iaxis, the rapidly expanding value-added network service provider. iaxis will use the investment to complete a suite of web-based products and network services that will establish the company as the premier supplier to Europe’s exploding “.com” market and to fund further expansion of it’s pan-European multi-terabit network.

Bain Capital, Inc. is one of the leading private equity investment firms in the US, managing over $6.5 billion in capital. The company is joined in this investment by Wynnchurch Capital Ltd of Chicago, Hunter Global Ventures of Los Angeles and existing iaxis shareholders. The investment takes the form of Convertible Preferred Shares in iaxis.

Over the next two months, iaxis will make a string of announcements in the Internet arena, including new services to compliment its pan-European IP backbone and a portfolio of value-added services. Thecompany has just completed a pan-European road show with award-winning router manufacturer, Juniper that will market iaxis’ services to ISPs and ASPs.

According to Bob Gay, Managing Director at Bain Capital, London: “iaxis already has Europe’s second largest broadband network - what impressed us were the plans it has to use this to deliver content-richapplications to end-users in partnership with broadband local loop providers, ASPs and ISPs.”

“iaxis has built a reputation for industry-leading performance, customer service and on the quality of its network infrastructure. The next round of growth is coming from advanced value-added services that are establishing iaxis as a major force in European Internet provisioning. It’s this blend of skills that is driving the company’s revenues and attracting investors to us,” says Michael Neuman, President and CEO, iaxis.


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