MONTREAL, January 13, 2005 - VoiceAge Networks Corporation, a leader in multimedia content adaptation, today announced the closing of Series A financing, raising USD$10 million in new capital. BCE Capital (an affiliate of Bell Canada Enterprises) led the round, joined by partners Entrepia Ventures, BDC Venture Capital, and VoiceAge Corporation.
"Mobile multimedia content and rich media applications are becoming a significant global revenue opportunity for wireless operators and service providers, but a common hurdle that needs to be overcome is the media adaptation at the network layer required to ensure device and network interoperability," said Joe Catalfamo, BCE Capital Managing Director. "VoiceAge Networks has demonstrated leadership in dealing with such content adaptation issues since 2001, and is extremely well positioned to continue to take market share as it solves this problem for the key stakeholders."
" VoiceAge Networks is bringing technology innovation that will be invaluable as carriers introduce IP-based services and multimedia applications," said Amit Srivastava, President, Entrepia. "The company has an impressive mix of management talent, products, and vision which, combined with their Tier 1 clients and global alliances, makes for a very exciting opportunity," added Steven Abrams, Director, BDC Venture Capital.
"Our SPOT xdeR platform has provided our customers with great increases in the uptake of multimedia services, which has driven our significant momentum since spinning off the company from VoiceAge Corp. earlier this year", said Jean Mayrand, Chief Executive Officer, VoiceAge Networks. "With the help of our strategic partners and a number of commercial deployments, we have quickly reached a level of maturity that has driven us to entertain expansion possibilities. This endorsement from our investors is great validation of our recent accomplishments and will allow us to aggressively pursue and realize our strategic objectives," added Allan Benchetrit, Chief Operating Officer.
VoiceAge Networks: Multimedia content adaptation through SPOTxdeR Server
VoiceAge Networks is a leading solution provider in the emerging multimedia content adaptation market, a technology that addresses the impediments to the seamless delivery of mobile rich-media data services. Its carrier-grade product, SPOT xdeR Server, effectively eliminates device and network interoperability errors while allowing virtually all devices (including legacy models) to participate in revenue generating value-added services. Offering carrier grade high availability, linear scalability, and exceptional performance, SPOT xdeR Server can be implemented as a central hub in the network and be used for all of the content adaptation needs of Mobile Network Operators and Content Service Providers. VoiceAge Networks participates and supports such standards bodies as 3GPP, 3GPP2, and the Open Mobile Alliance (OMA), and chairs the OMA sub-committee for the Standard Transcoding Interface (STI). Visit VoiceAge Networks at: www.voiceagenetworks.com.