$28 Million Financing to Fuel the Growth of Sonim; Accel Partners to lead Series C with backing from Apax Partners, 3i Partners and BV Capital.Business Editors SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--Feb. 26, 2004 Sonim Technologies, the leader in enabling today's wireless data networks to deliver high-margin voice services including Push-to-Talk, today announced a $28 million Series C financing. This significant commitment from Accel Partners and from the existing investors, funds advised by Apax Partners, 3i Partners and BV Capital, provides Sonim with the necessary resources to fuel its rapid growth to support carrier-grade Push-to-Talk (PTT (1) (Postal, Telegraph & Telephone) The governmental agency responsible for combined postal, telegraph and telephone services in many European countries. (2) See push-to-talk. PTT - Post, Telephone and Telegraph administration ) deployments on a global basis. "We are thrilled to have received such a solid commitment from these world-class investors," said John Burns This article covers the British politician. For other people with the same name see John Burns (disambiguation) John Elliot Burns (20 October 1858 – 24 January 1943) was a prominent English trade unionist, anti-racist, socialist and politician of the late 19th and , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President for Sonim. "The financing supports significant expansion to the product organization and further solidifies Sonim's strong market position in the explosive global PTT arena." "In the past 12 months, Sonim has become the leader in Push-to-Talk technology with influential market, standards and engineering development," said Kaj-Erik Relander, Partner at Accel Partners. "We are extremely impressed by the stellar management team, and the best and brightest talent they have assembled." "We are very excited about Sonim's growth potential in a promising business sector," said John McMonigall, Director at Apax Partners. "The company is strategically positioned with the best possible timing to benefit from the increasing penetration of Push-to-Talk and other voice services globally." "We know that 'push-to-talk' is fundamentally changing the way we communicate -- and we see Sonim as a standard setting leader addressing the 'push-to-talk' market at exactly the right time," said Robin Murray Professor Robin Murray (1944-) is Professor of Psychiatry and Head of the Division of Psychological Medicine at the Institute of Psychiatry and Guy's, King's and St Thomas' Medical School, London. The Psychosis Research Group he leads is one of the largest outside the USA. , Partner with 3i and Member of Sonim's Board of Directors. "Sonim has created a very strong Push-to-Talk eco-system including strategic partnerships with several of the wireless industry 'heavy-weights'," said Mathias Schilling, Partner at BV Capital. "We are impressed with Sonim's commitment to an end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. , a key success-factor and strategic advantage in the wireless industry." "Sonim will now be able to amply respond to the increasing demand from wireless operators worldwide for PoC based solutions," said Bob Plaschke, CFO See Chief Financial Officer. and EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition of Sales and Business Development for Sonim. "The key to PTT success is global execution capability with a standards-based solution, something that Sonim has available, with its partners, today," concluded Plaschke. Sonim is an application leader of voice services for GPRS/EDGE/WCDMA and CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. 2000 networks. It enables Push-to-Talk solutions fully compliant with the industry standard Push to talk over Cellular (PoC) specification, recently announced along with the support from industry leaders including Sonim. Sonim's solutions enable wireless operators worldwide to deploy Push-to-Talk today with the security of complete interoperability. For all employment opportunities please contact Jessi Kaur at jkaur@teamedge.net or 650-704-2019. About Sonim Technologies, Inc. Sonim Technologies enables today's GSM and CDMA wireless data networks to deliver high-margin voice services. This standards-based solution provides real-time communication services such as Push-to-Talk that combine the flexibility of mobile messaging with the ease-of-use of voice. The end-to-end, IP-based solution creates significant new revenue streams and delivers superior 'return on bandwidth' for mobile operators. Sonim is headquartered in San Mateo, Calif., with offices in Italy and the United Kingdom. For more information, visit the company's web site at www.sonimtech.com. About 3i Partners 3i is a leading international venture capital company with U.S. offices in Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA and Waltham, MA. Operating since 1945, 3i has invested worldwide over $26 billion, including co-investment funds, with a total staff of 800 employees operating out of over 30 offices in 14 countries. 3i leverages this worldwide presence to add value to its portfolio companies and investment partners. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , 3i concentrates on early and late stage technology investments in companies with the potential to be leaders in their markets. Outside the USA, 3i invests broadly in buyouts, growth capital and venture capital. Since opening its US businesses in 1999, 3i has become one of the most active early and late stage VCs in the US. Recent investments in early stage companies include TransMedics, NeoGuide Systems, and DAFCA. Late stage investments include Vonage, Skystream Networks, and Merchant e-Solutions. Visit 3i and its portfolio at www.3ius.com. About Accel Partners Founded in 1983, Accel Partners has a history of excellence and innovation in the venture capital business. The firm is dedicated to partnering with outstanding management teams to build world-class Internet, software, and communications companies Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. . With over $3 billion under management, Accel Partners has a long legacy of helping entrepreneurs build highly successful companies. Accel portfolio companies have completed IPOs that have created well over $100 billion in market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . Accel has a history of backing category-defining companies, which include Actuate, Agile Software, Foundry Networks Foundry Networks is a network system vendor selling high-end managed ethernet switches and routers. The company was founded in 1996 by Bobby R. Johnson, Jr. and is based in Santa Clara, California, USA. , Macromedia, Portal, Polycom, Uunet, RealNetworks, and Veritas. For more information, visit the Accel Partners web site at www.accel.com. About Apax Partners Apax Partners is one of the world's leading private equity investment groups, managing more than $13 billion on behalf of institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. worldwide. Its cross-border sector specialist teams in the US, Europe, Israel and Japan work together to identify the best investment opportunities in Information Technology, Telecommunications, Healthcare, Media, Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and Retail/Consumer. Funds advised by Apax Partners pursue a balanced equity portfolio strategy, investing in companies at all stages of development from start-up to buy-out in transaction amounts ranging from $3 million to $3 billion. Recent investments include: Autonomy Corporation Autonomy Corporation plc (LSE: AU.) is an enterprise software company based in Cambridge, United Kingdom and San Francisco, USA. It develops a variety of enterprise search and knowledge management applications using adaptive pattern recognition techniques centered on Bayesian , Dialog Semiconductor, Damovo, Yell and Digital Bridges. For more information, please visit: www.apax.com. About BV Capital BV Capital is an independent venture capital fund with international high profile investors. The four founding members of the firm have extensive experience in the Internet, electronic media and telecommunications industries. BV Capital primarily focuses on early stage investments in the media, communications, infrastructure, enabling technologies and wireless application markets. In 2000 the Wall Street Journal named BV Capital as one of the most influential technology financiers on either side of the Atlantic. For more information, please visit: www.bvcapital.com. Other product or service names mentioned herein are the trademarks of their respective owners. |
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