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Starhome Secures $20 Million in Equity Financing Led By Apax Partners Funds
Date:
Topic Finance, Investment and Stocks
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Starhome Secures $20 Million in Equity Financing Led By Apax Partners Funds
Amsterdam, Netherlands, February 19, 2004 /Wi-Fi Technology News/- Starhome BV, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT), and a leading mobile roaming technology and solution provider for wireless carriers around the world, announced that it secured $20 million in equity financing led by Apax Partners Funds.
Shahar Florence, CEO of Starhome, said, ?We are pleased that Apax Partners shares our vision of the global wireless services environment, enabling people to have seamless access to their familiar mobile services, as well as harnessing their mobile devices for the delivery of needed services to travelers and doing so in their native languages, wherever and whenever they roam. We believe having the confidence and support of well-respected technology investors may help to bolster our already growing reputation as the choice for delivering advanced roaming technology and solutions to mobile operators. Furthermore, we believe the additional funds will enable Starhome to shorten the time to market of new products and technology while expanding our business and customer base.?
?Mobile technology is a primary focus for Apax Partners. We are extremely impressed with Starhome?s market leadership, and the strong partnerships it has established with wireless carriers around the world,? said Sachi Gerlitz, a Partner with Apax Partners. ?This attractive investment is consistent with our strategy of identifying high-quality companies with leading industry positions.?
About Starhome:
Starhome is a leading roaming technology and value added solutions provider to mobile operators. Starhome's expertise in mobile technology and networks, coupled with a global operations network, empower a rich portfolio of inbound and outbound roaming solutions including roaming infrastructure, optimization and information, as well as specialized value added services applications. 50 leading mobile operators and groups from 5 continents-representing 175 million subscribers leverage Starhome's technology and solutions for quick deployment of roaming and value added services.
Founded in 1999, Starhome is a subsidiary of Comverse Technology, Inc., an S&P 500 and NASDAQ-100 Index company and a world leader in multimedia telecommunications applications.
For additional information, visit Comverse Technology?s web site at http://www.cmvt.com and Starhome's web site at http://www.starhome.com.
About Apax:
Apax Partners is one of the world's leading private equity investment groups, operating across Europe, Israel, the United States and Japan. With over 30 years of direct investing experience, Apax Partners? Funds provide long-term equity financing to entrepreneurs to build and strengthen world-class companies. It pursues a balanced equity portfolio strategy, investing in companies at all stages of development from early stage to buy-out.
Apax Partners? Funds invest in companies across its 6 chosen global sectors of: information technology; telecommunications; healthcare; media; financial services; retail and consumer. Technology investments include Dialog Semiconductor, Fractus, Frontier Silicon, Inmarsat, Kabel Deutschland, Mobixell, Nexagent, Sonim Technologies, RedM, Wisair and Yell. For additional information, visit the web site at http://www.apax.com
For further information, please contact:
Tamar Levine
Tamar.levine@apax.com
Tel: +972 9 9608127
Sandy Hammer
Sandy.Hammer@starhome.com
Tel: 00-41-1-380-6777
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