"Mobileway has already developed a substantial global
infrastructure and revenue generating services, leveraging
the huge momentum in Short Messaging Service (SMS),"
said Janice Roberts, General Partner of Mayfield and the
Chairman of Mobileway. "It is our belief that the Mobileway
platform provides the foundation for many new services and
applications that will set new standards in wireless connectivity,
using current and next-generation networks."
Mobileway provides rapid and secure mobile operator connectivity
around the globe, bringing wireless interactivity to mobile
users, revenue-generating services to network operators,
and enabling cross-border deployment of enterprise applications.
Content providers, enterprises, and wireless network operators
can now reach the ever-growing community of mobile phone
users seamlessly, regardless of the wireless network technology
in use.
Mobileway operates a Global Network of direct and secure
connections to wireless operator networks worldwide, providing
businesses with single-point access to 300M phones for 2-way
data exchanges and 500M phones for one-way messaging. With
more than 80 contractual relationships with wireless operators,
Mobileway provides global coverage, high performance, and
service quality needed for mobile consumer and enterprise
applications. By working closely and locally with mobile
network operators around the world, Mobileway delivers access,
billing and application provisioning to enterprises, content
providers and financial institutions which want to deploy
value-added services to mobile users.
"As we operate the market-leading network of direct
connections today, this funding will help to deepen our
relationships with wireless operators and create more value-added
services like delivery notification, m-commerce solutions,
and cross-border and cross-technology delivery of Short
Messages," said Patrice Peyret, CEO of Mobileway. "This
funding will also allow us to continue our global growth
strategy, which includes aggressive partnership development,
and creating innovative GPRS and enterprise services."
Mobileway delivers a broad range of wireless data services,
such as text and multimedia messages and alerts distribution,
Internet-to-wireless instant messaging, cross-border delivery
of short messages, and m-commerce solutions. Mobileway also
helps operators reach neighboring networks when interconnections
are not available for technical or billing reasons. Furthermore,
Mobileway provides phone vendors with the management of
phone software updates over-the-air.
"Our funding partners," Peyret continued, "bring
much more than $27 million in financing to Mobileway. Their
tremendous knowledge and expertise will contribute greatly
to Mobileway's expansion of its network of wireless networks."
Top-Tier Investors Validate the Mobileway Global Network
"Mobileway has built a premier global network for
wireless data services and applications. The company's customer
list, focus on execution and customer service has it positioned
to dominate this market," explained Robin Murray of
3i, the leading international venture capital company. "Our
investment in Mobileway reflects our belief in Mobileway's
products and its strong management team. We will fully leverage
3i's unique international network to help Mobileway achieve
its vision."
"Investcorp is very excited about our investment in
Mobileway,"commented Raj Singh, Partner at Investcorp
Technology Ventures. "We strongly believe in the future
of wireless data services, and Mobileway is very well positioned
to take advantage of this trend."
"As a global financial services company with over
120 million customers in over 100 countries, one of Citigroup's
key goals is to provide a comprehensive suite of services
to consumers across multiple channels in a secure and private
manner," said Bill Carson, Director of the Strategic
Investments Group, at Citigroup. "The investment in
Mobileway shows how committed we are to providing our services
to customers across wireless channels."
"As an early investor in Mobileway, Vertex sees great
potential for Mobileway to contribute great value to SMS
services globally," said K.T.Wan, Vice President of
Vertex Management Inc.
"Such investments in today's economic climate demonstrates
our investor's belief in Mobileway's global carrier connectivity
model as well as our initial traction gained in the wireless
marketplace," added Peyret.
About Mayfield
Mayfield provides Venture Capital with Impact and creates
next-generation technology companies in communications and
enterprise software. Since Mayfield's founding in 1969,
the firm has invested in more than 425 companies and has
taken approximately 115 companies public. Today, these Mayfield-backed
companies represent an aggregate market value of more than
$150 billion. Recent investments in the communications and
wireless connectivity sector include; AlterEgo, BeVocal,
Convedia, LGC Wireless, MobileAria, Monet Mobile Networks
and Wireless Online. For additional information visit www.mayfield.com,
or call (650) 854-5560.
About 3i
3i is a leading international venture capital company with
U.S. offices in Palo Alto, CA and Waltham, MA. 3i Group
Plc. is listed on the London Stock Exchange and is in the
FTSE100. Worldwide, 3i has invested over $19 billion in
more than 13,700 businesses through a network of 43 offices
- 38 in Europe, 3 in Asia and 2 in the U.S. 3i leverages
its worldwide presence to add value to its portfolio companies.
In the U.S., 3i concentrates on technology with an emphasis
on business Internet and telecommunications. Investments
in the U.S. include: BoostWorks, Develop Online, Ensim,
Garage Technology Ventures, Intrinsic Graphics, Quarry,
& Sandburst, Teleknowledge, Yet2.Com, and Zight Corporation.
Visit 3i at www.3ius.com.
About Investcorp
Investcorp is a global investment group with offices in
London, New York and Bahrain. The firm has four lines of
business: corporate investment, real estate investment,
asset management and technology investment. It was established
in 1982 and has since completed transactions with an aggregate
value of approximately US $19 billion.
In Europe, Investcorp and its clients currently own corporate
investments that include Avecia (formerly Zeneca Specialists),
Gerresheimer Glas AG and Welcome Break. In the United States,
Investcorp and its clients currently own corporate investments
that include Independent Wireless One, Jostens and Synthetic
Industries. Additional information may be found at www.investcorp.com.
About Citigroup
Citigroup (NYSE:C), the preeminent global financial services
company, provides some 120 million consumers, corporations,
governments and institutions in more than 100 countries
with a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking,
insurance, securities brokerage and asset management. Major
brand names under Citigroup's trademark umbrella are Citibank,
CitiFinancial, Primerica, Salomon Smith Barney, and Travelers.
Additional information may be found at: www.citigroup.com.
About Vertex Management
Vertex Management, started in 1988 as the venture capital
arm of Singapore Technologies Group is today a global venture
capital firm with over US $1 billion under management. It
is headquartered in Singapore and has offices in the United
States, London, Denmark, Taiwan, Beijing, Hong Kong and
Israel.
About Mobileway
Mobileway, Inc. is a leading provider of global data access
over wireless networks for businesses and mobile operators.
Mobileway manages the deployment of wireless data applications
and enables associated payments. The company's global network
and value-added wireless services are designed to enable network
operators, content providers, enterprises and financial institutions
to bring customized, user-authorized, and secure data services
to mobile users. Mobileway offers wireless data services that
include text messages, ring tones, m-commerce solutions, and
service data such as copyright reports, click-rate reports,
phone software updates, and user validation cryptograms. A
North American company, Mobileway has offices located throughout
Europe, Asia and the United States. Additional news and information
about the company is available at
www.Mobileway.com.
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