DIGITAL NETWORKS LEADS Û8M THIRD ROUND OF FUNDING IN EMPOWER
INTERACTIVE
London, July 31, 2002 Ð Digital Networks,
the pan-European venture capital group, has led the Û8 million third round of
funding in Empower Interactive Group, the leading provider of dedicated
application messaging infrastructure software solutions to the mobile
community.
Empower Interactive provides messaging infrastructure software that is
specifically designed for application driven messaging. The companyÕs solutions allow wireless
operators to offer value-added application messaging services such as voting or
interactive services without the risk of overloading their peer-to-peer SMS
infrastructure. EmpowerÕs customers include operators Orange, BT, Wind and TIM,
as well as messaging specialists mBlox and Locom. Empower recently agreed a partnership with Hewlett Packard,
a leader in messaging infrastructure, to provide EmpowerÕs solutions on HPÕs
OpenCall platform.
Co-investors in the round include IDG Ventures Europe and existing
investors Telesystem Argo Global Capital LLC and Newtonmore Capital Ltd
participating. The investment will support the companyÕs expansion in Europe,
Asia and the US, and will also fund increased marketing and product development
efforts.
Digital Networks led the Series C financing, and Francesco di Valmarana
will join the board of the company.
Francesco di
Valmarana, Partner at Digital Networks, commented: ÓDigital Networks has known
Empower for over two years and is very pleased to be able to work with the
company and its management team to support its growth. Our focus on digital infrastructure
allowed us to identify the company as an emerging leader early in its
development, and we are excited to be part of the story as Empower solidifies
its position as a core infrastructure player and agent of consolidation in the
industry.Ó
ÒWith an already strong product set and customer base, Empower is using
this financing to more rapidly satisfy the increasing worldwide demand,Ó said
Richard Shearer, Chairman and Chief Executive of Empower. Steve Sahara, Chief Financial Officer
of Empower adds, ÒThis round strengthens EmpowerÕs foundation for growth. We have attracted investors that add
value through their industry focus and collective experience. More importantly, they provide deep
resources for future growth capital or strategic acquisitions.Ó
About Digital Networks
Digital Networks
is a pan-European venture capital firm, backed by leading institutional
investors in Europe and the United States. Its focus is to invest in hardware, software and service
companies in and around communications.
The professionals of Digital Networks bring over 30 years of private
equity experience to their investments, and actively work with portfolio companies
to steward their growth through the various stages of development. Portfolio companies include Asita
Technologies, one of the fastest integrated VPN/Firewall products in the
market, Endeca Technologies, a leading developer of data navigation solutions,
JacobsRimell, a provider of OSS provisioning software, and MoreMagic, a
provider of mobile billing infrastructure.
The firm looks
to invest Û1-10 million per company and concentrates its investment activities
in the United Kingdom, Germany, France and the Nordics. Additional information about the firm's
strategy, objectives and activities can be found on its web site, www.dn-global.com.
About Empower Interactive
Empower
Interactive provides messaging infrastructure software that is specifically
designed for application driven messaging. EmpowerÕs focus is on the
communications industry, including mobile operators, service providers, systems
integrators and equipment manufacturers.
Empower currently works with a number of strategic partners and clients,
including BT Retail, Blu, TIM S.p.A, mBlox, Hewlett Packard and Orange, and has
over 55 deployments in 18 countries worldwide.
Headquartered
in London, Empower is run by a strong senior management team with deep
experience of the wireless, IP (Internet Protocol) and software industries.
Chairman and Chief Executive, Richard Shearer is the former Commercial Director
of T-Mobile UK.
For more information:
Francesco di Valmarana francesco@dn-global.com +44
20 7986 5879
Steve Sahara steve.sahara@eigroup.com
+44 20 7920 9400