AMSTERDAM, NETHERLANDS, June 11, 2014 /24-7PressRelease/
-- NewNet Communication Technologies, B.V., a Portfolio Company of Skyview Capital, and a global leader in mobility technologies with a primary focus in mobile messaging, announced today the acquisition of NewPace Technology Development Inc.
NewPace develops mobile and wireline telecom software solutions for global carriers. NewPace's services include professional services to telcos and development of RCS Messaging software solutions. The acquisition of the NewPace business represents a significant milestone in the evolution of NewNet's product portfolio and market focus. The NewPace products will be a key addition to the Mobile Messaging technologies, expanding NewNet's development initiatives. NewPace serves a range of global telecom carriers and handset manufacturers and has 28 staff based in Halifax, Canada.
NewPace's rcsConnect family of solutions has been powering global Rich Communication Service clients for more than three years. rcsConnect is a complete suite of GSMA 5.1 compliant services, accredited by the GSMA, including: VoIP and Video calling,Presence, Instant Messaging, Group Chat, File Transfer, Store and Forward functionality, Central Message Store, Configuration Server, Inter-operator routing and Network API solutions for mobile operators. RCS solutions can help mobile carriers offer services similar to WhatsApp!, Line, and Viber.
NewNet's Messaging Unit President, Krishna Viswanadham, said: "Our acquisition of NewPace will enable NewNet to provide enhanced messaging solutions. This will complement our current Krypton, Lithium, Mercury, and Cobalt SMS and MMS product lines. We have been working with the NewPace team since mid-2013 and see great traction for our combined product suite."
"NewPace believes that NewNet is best positioned to capture the growing RCS market by merging our technologies, staff and services," said Brent Newsome, the President and CEO of NewPace.
Gavin Murphy, NewPace VP and CTO, said, "Our products solve an important pain-point for mobile carriers. Working with the NewNet and Skyview team, we see numerous opportunities for revenue growth and technology development."
"The NewPace acquisition highlights yet another milestone in NewNet's rapid and continued development. NewPace's suite of products and services combined with NewNet's existing portfolio of messaging, signaling, and secure transaction applications will enable NewNet to offer our global customers an even broader range of next-gen communication solutions. Furthermore, a key initiative for us moving forward will be to utilize our telecom and messaging experience to expand organically and inorganically into new advanced communications solutions including Voice over LTE (VoLTE)," said Alex Soltani, Chairman and CEO of Skyview Capital.
The share purchase agreement was signed June 5, 2014 with a simultaneous close. Terms of the agreement were not disclosed.About Skyview Capital, LLC
Skyview Capital, LLC, is a global private investment firm headquartered in Century City, California, which specializes in the acquisition and management of "mission critical" enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. The Los Angeles Business Journal recently recognized Skyview as one of the Top 25 private equity firms in Los Angeles. To date, Skyview has successfully completed over 20 transactions within its target market verticals. For further information, please visit www.skyviewcapital.com
About NewNet Communication Technologies
Headquartered in Arlington Heights, IL, NewNet is a recognized leader in mobility technologies with a primary focus in messaging, signaling, wireless broadband, consumer internet, multimedia content delivery, mobile advertising, and secure transaction processing. NewNet Communication Technologies is a part of the Skyview Capital LLC, portfolio of companies. For further information, please visit www.newnet.com
Founded in 2009, NewPace Technology Development provides Software Development, Systems Operations, and Applications support to a world-wide base of customers. Having developed large-scale VoIP offerings and implemented global Instant Messaging products, the NewPace team has substantial experience in telecommunications development and operations. The organization services a wide variety of global clients with tenured expertise in delivering robust, high availability and scalable telecom solutions. NewPace's messaging products are fully compatible with LTE & VoLTE network infrastructure and the GSMA Rich Communication Service Specifications. For more information, please visit http://www.newpace.ca
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