EMPOWER INTERACTIVE SECURES LATEST ROUND OF FUNDING
Added: (Wed Jun 20 2001)
Pressbox (Press Release) -
EMPOWER INTERACTIVE SECURES LATEST ROUND OF FUNDING FROM TELESYSTEM-ARGO
GLOBAL CAPITAL, NEWTONMORE TECHNOLOGY LIMITED AND ARMADA PARTNERS
London, 20 June 2001 - Empower Interactive, a global developer of high
performance wireless messaging infrastructure software, has secured US$7.5
million, second round funding from, Telesystem-Argo Global Capital - the
wireless Internet specialist fund, Newtonmore Technology Limited and Armada
Partners.
The additional funding fuels Empower's growth strategy and enables Empower
to satisfy the overwhelming global demand for their products by:
1. Increasing the global sales team,
2. Recruitment senior management and additional key staff,
3. Developing innovative new products.
Empower has developed several new messaging infrastructure software products
that enable both wireless network operators and corporates to better manage
large volumes of SMS messages. The expanded Empower sales team now covers
Europe, the United States, Asia, Latin America and the Middle East.
"With 40 installations in 15 countries and a strong, growing sales pipeline,
Empower is using this financing to more rapidly satisfy this increasing
worldwide demand," said Michael Ohr, CEO of Empower Interactive. "With
Empower solutions, carriers can maximize and monetize the value of their
existing infrastructure and create demand for 3G and beyond."
Vesa Jormakka, Vice President and Partner at Telesystem-Argo Global Capital
adds:" Empower has all the landmarks of a classic wireless winner:
innovative, robust products available now fulfilling mobile operators needs
today, extremely interesting technology roadmap for tomorrow and an
exceptional team to execute it. We are proud to be able to join our forces
and help our investors, the mobile operators to make their mobile data value
proposition even more compelling."
Adds Steve Sahara, CFO at Empower, "Our value proposition to investors is
current revenue generated from real products sold to key strategic accounts.
The additional funding and investor contact network among worldwide carriers
allows us to rapidly scale our proven business model and bring our new
products to market sooner."
Notes to Editors
About Empower Interactive
Empower Interactive's high performance messaging infrastructure products are
key elements that drive the growth of wireless data revenue for mobile
operators.
The Empower VMR (Virtual Mobile Redirector) is a major catalyst for SMS
traffic and m-commerce. VMR enables true 2 way cross-network interaction
between Mobile subscribers and applications with only one phone number.
The mBusiness SMS Gateway provides enterprises and application developers
with the necessary SMS transport to connect to the carrier networks at the
SMSC with familiar IT interfaces.
Our Carrier MSP SMS Gateway allows telco's and WASP's to manage their
exploding volume of corporate wireless data and provides a secure protective
layer in front of the SMSC and core network infrastructure. Billing CDR's
are generated automatically.
Empower Interactive infrastructure products reduce time to market for
wireless data services and applications and were developed and tested in
conjunction with multiple carrier networks as well as CMG, Logica, Nokia and
Sema. Empower Interactive is headquartered in London, UK with locations in
Germany and Italy.
For more information about Empower Interactive, please visit the company's
website at
About Telesystem - Argo Global Capital LLC
Telesystem - Argo Global Capital LLC is a U.S. Venture Capital firm with
more than US$460 million of committed capital. Co-founded in 1997 by its
CEO, H.H.Haight and by Telesystem, a private equity company in the digital
economy, Telesystem-Argo is a leading international firm dedicated to the
wireless industry and the convergence of wireless and the Internet.
Telesystem- Argo's two funds, GSM Capital Limited Partnership and ARGO
II-The Wireless Internet Fund Limited Partnership, have made more than 35
investments in the wireless sector in Europe, North America and Asia from
its offices in Boston, Montréal, London and Hong Kong. Major wireless
operators around the World - including France Telecom, Deutsche Telekom,
KPN, ESAT, Singapore Telecom, SmarTone, VoiceStream, Microcell
Telecommunications and TIW - contribute capital and ongoing support to
Telesystem - Argo's funds and its portfolio companies.
For more information, visit http://www.argoglobal.com
ABOUT Newtonmore Limited
Newtonmore Technology is a Jersey-based investment firm that has focused on
providing growth capital to Western European-based technology companies.
Newtonmore funds entrepreneurial companies involved in the emerging areas of
Information Technology and IP and Mobile Communications. At present, the
company has five investments in its portfolio. The management team of six
investment professionals has broad entrepreneurial and private equity
experience that has been critical to the development of the portfolio and in
enhancing shareholder value. The capital of Newtonmore Technology Limited
is controlled by its management and Board of Directors and also includes the
HSBC Group with a 27% holding.
For more information visit:
http://www.newtonmoretechnology.com
About Armada Partners
Armada Partners is the UK's first true "meta-company", combining venture
capital with managerial, marketing and infrastructure resources, as is
appropriate for the portfolio company. Backed by private investors and
Deutsche Bank, Armada and its parent firm, Armada International, are
involved with B2B2C insurance intermediary Dotcover, fabless analog
integrated circuit firm Hellic, a Dubai-based software and services firm
Interactive Technologies and Empower Interactive. For more information
visit www.armadapartners.com
For further information, please contact;
Michael Ohr - CEO
Empower Interactive Group, Ltd.
+44 (0) 207 920 9400
mike@eigroup.com
or
Steve Sahara - CFO
Empower Interactive Group, Ltd.
+44 (0) 207 920 9400
steve@eigroup.com
or
Edward Lloyd/
Simon West/Nicholas Tapper
Barrington Lloyd International
+44 (0)1799 506 187
Empower@bli.co.uk