AePona announces $20 million funding transaction
March 4, 2005
BELFAST -- Belfast-based telecoms software developer Aepona 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 which 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.
AePona Ltd.
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