Business Editors/High-Tech Writers
SAN JOSE, Calif. & MILPITAS, Calif.--(BUSINESS WIRE)--Oct. 27, 2003--IP Unity, the market leader in enhanced service solutions for the blended network, announced today that it has received a strategic investment from Siemens Venture Capital to enable new product delivery and support for market expansion in the coming year. Together with past funding rounds, IP Unity's private capitalization now totals nearly $70 million.
"Siemens is a critical and proven partner for us," stated Dr. Arun Sobti, IP Unity CEO and Chairman. "They bring international market strength in countries with robust IP telephony demand, solutions that are highly complementary to ours, and powerful brand equity. We are very pleased to have won their confidence as an investment target and welcome the value they will bring to our business."
"We are extending our reach into IP telephony by investing in IP Unity, a first-mover and leading provider in media server solutions," said Bjoern Christensen, President & CEO of Siemens Venture Capital. "IP Unity's leading market share position in the IP telephony market and its strong management team make it a compelling investment opportunity for Siemens. We believe the company's commitment to innovation and its focus on customer needs will enable it to maintain its leadership position."
IP Unity has more than 100 Media Server platforms deployed in carrier networks worldwide, e.g., for Cbeyond, Comcast, Level 3 Enhanced Services, Liberty Media and other large carriers. In addition to its substantial work with Siemens, IP Unity also partners with network and systems integrators Cisco, IBM, SAIC, Sonus and ZTE, as well as market-leading applications and IP Centrex players.
"We have collaborated with IP Unity on numerous Tier One customer proposals now moving to deployment," described Gerd Goette, Investment Partner for Siemens Venture Capital. "We know their value proposition and their appeal with carriers, as well as their ability to deliver. IP telephony is an emerging imperative for carriers, and we are backing companies like IP Unity who have critical mass and innovation in this space."
Previous investors in IP Unity include Battery Ventures, Kleiner Perkins Caufield and Byers, NEA and Partech International.
About IP Unity
IP Unity provides enhanced service solutions for blended TDM and IP networks. The company's Harmony 6000(TM) media/applications server system delivers high speed, volume media processing and carrier-class IP telephony services like audio/web conferencing, messaging, interactive voice response, auto-attendant and prepaid services on a scalable system. These capabilities enable providers to quickly, cost-effectively deploy traditional and new telephony services while protecting their existing investment in legacy systems. Worldwide, carriers rely on IP Unity to deliver reliable and powerful enhanced service solutions to niche or mass markets. For more information on IP Unity's award-winning solutions, call 408-582-1100 or visit the company website at www.ip-unity.com.
About Siemens Venture Capital
Siemens Venture Capital (SVC) is the corporate venture organization for all Siemens' businesses worldwide. SVC plays a key role in the Siemens global network of innovation. The goal is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens. This investment focus is to augment the efforts of various Siemens business segments such as Information and Communications, Automation and Control, Medical Solutions, Transportation Systems and Power. To date, SVC has invested some 500 million euros in more than 70 start-up companies and 25 venture capital funds mainly in the U.S., Europe and Israel. SVC is located in Germany (Munich) and has an affiliated corporation, Siemens Venture Capital, Inc., in the U.S. (San Jose, CA and Boston, MA). For more information please visit our Web site: www.siemensventurecapital.com.
© Business Wire
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