Innovacom Leads New Shenick Investment

DUBLIN -- Shenick, a leading vendor of integrated network+application+security attack emulation and performance analysis test systems, has announced a $3.25 million strategic investment led by Innovacom, the venture capital team, sponsored by France Telecom. Existing investor Trinity Venture Capital, who first invested in Shenick in 2003, also participated in the round.

Shenick's diversifEyeT emulation and performance analysis test system has been widely deployed with the world's leading service providers, communications equipment vendors and enterprises in Europe, North America and the Asia-Pacific region.

Shenick's CEO, Alan Robinson commented, "Innovacom brings considerable expertise to Shenick from the network service provider space. diversifEye has been deployed in over fourteen countries now and we will be using this investment to help continue to build our sales and marketing presence in the European, North American and Asia Pacific marketplaces. Since 2003, when Trinity Venture Capital invested in Shenick and our diversifEye product line was successfully launched, we have won high value initial sales and increasing repeat business within targeted key accounts that have the capacity to generate significant amounts of business for Shenick and this investment will help fuel our aggressive expansion plans."

As new business and consumer services are rolled out such as triple play (all in one IPTV, high speed internet and voice) and enhanced broadband business VPN services such as metro Ethernet, Shenick provides a key test component in the drive to assure quality of service (QoS) and to offer greater levels of confidence in end user quality of experience guarantees under both normal network conditions and while under conditions involving network security attacks.

Joining Shenick's Board of Directors will be Bruno Dizengremel of Innovacom and Karl Schütte of Trinity Venture Capital. Welcoming the new board members, Shenick's Chairman Eoin O'Driscoll, former senior vice president of Lucent said: "Bruno and Karl bring their considerable talents and experience in assisting high growth technology companies move into the realm of major global players at a time when Shenick is gaining significant customer traction and aggressively executing its expansion plans."

Shenick Network Systems Ltd.