October 28, 2003
SAN JOSE and MILPITAS, Calif. -- IP Unity, the market leader in enhanced service solutions for the blended network, announced today that it has received a strategic investment from Siemens Venture Capital to enable new product delivery and support for market expansion in the coming year. Together with past funding rounds, IP Unity's private capitalization now totals nearly $70 million.
"Siemens is a critical and proven partner for us," stated Dr. Arun Sobti, IP Unity CEO and Chairman. "They bring international market strength in countries with robust IP telephony demand, solutions that are highly complementary to ours, and powerful brand equity. We are very pleased to have won their confidence as an investment target and welcome the value they will bring to our business."
"We are extending our reach into IP telephony by investing in IP Unity, a first-mover and leading provider in media server solutions," said Bjoern Christensen, President & CEO of Siemens Venture Capital. "IP Unity's leading market share position in the IP telephony market and its strong management team make it a compelling investment opportunity for Siemens. We believe the company's commitment to innovation and its focus on customer needs will enable it to maintain its leadership position."
IP Unity has more than 100 Media Server platforms deployed in carrier networks worldwide, e.g., for Cbeyond, Comcast, Level 3 Enhanced Services, Liberty Media and other large carriers. In addition to its substantial work with Siemens, IP Unity also partners with network and systems integrators Cisco, IBM, SAIC, Sonus and ZTE, as well as market-leading applications and IP Centrex players.
"We have collaborated with IP Unity on numerous Tier One customer proposals now moving to deployment," described Gerd Goette, Investment Partner for Siemens Venture Capital. "We know their value proposition and their appeal with carriers, as well as their ability to deliver. IP telephony is an emerging imperative for carriers, and we are backing companies like IP Unity who have critical mass and innovation in this space."
Previous investors in IP Unity include Battery Ventures, Kleiner Perkins Caufield and Byers, NEA and Partech International.
IP Unity Inc.
Siemens Venture Capital (SVC)
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