Digital Networks invests in
OSS Provisioning Software provider JacobsRimell
20 May 2002, London Digital Networks, together with existing investors
Advent International, E-Tech and Fidelity Ventures, have invested $10 million
in JacobsRimell, a UK-based OSS provisioning software company.
JacobsRimell is a leading provider of OSS provisioning software for
cable, ISP, wireless and telecommunications companies, with customers including
Cable and Wireless, NTL and Telstra. The company was founded by David Jacobs
and Phil Rimell who worked together at Reuters where they were responsible for
developing and implementing the global IT infrastructure. Stephen Allot, the
former CFO and President of Micromuse, a leading UK OSS software company, is
non-executive Chairman of JacobsRimell.
The investment by Digital
Networks, Advent International and Fidelity Ventures will support the companyÕs
expansion in Europe, Asia and America. It will also assist the companyÕs move
into other broadband services sectors.
Digital Networks led the Series B
round of financing and Managing Partner Nenad Marovac will join the
JacobsRimell board.
Nenad Marovac, Managing Partner,
Digital Networks, commented, ÒWe are very excited about working with
JacobsRimellÕs management team, to help extend its position as a leading
provisioning company for the cable, ISP, and mobile sectors. We also look
forward to working with first rate syndicate partners Advent International and
Fidelity Ventures.Ó
Note to Editors
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 MoreMagic, a provider of mobile
billing infrastructure, Asita Technologies, one of the fastest integrated
VPN/Firewall products in the market, and Endeca Technologies, a leading
developer of data navigation solutions.
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 firmÕs strategy, objectives and
activities can be found on its web site, www.dn-global.com.
About JacobsRimell:
JacobsRimell provides service creation, delivery
and management software for broadband operators and other next-generation
service providers. Its solution enables cable operators to launch revenue
generating applications more quickly and cost effectively than using
traditional solutions, allowing these operators to launch services with lower
capital investment and a faster pay-back time. Founded in 1997, the company has over 100 employees with
headquarters in the UK and offices in America. JacobsRimellÕs customer base
includes Cable and Wireless, NTL, NTT,
Telstra and UPC, and has overall installed base of several million
end-users, in over 10 countries.
For more information:
Digital Networks
Steven Schlenker steve@dn-global.com +44
20 7986 5885
Francesco di Valmarana francesco@dn-global.com +44
20 7986 5879
Shona Prendergast shonap@penrose.co.uk +44
20 7786 4884
JacobRimells
Richard Nevill richard.nevill@jacobsrimell.com +44 20 7786 4000
VP PR Ltd
Charlotte Delaforce charlotte@vp-pr.com +44
20 8964 0260