Dublin-based Accuris Networks, a leading provider of convergence, roaming and interworking solutions, announced today that it has received USD15 million in funding from investors Ulster Bank Diageo Venture Fund L.P and China Ireland Technology Growth Capital Fund. The company also announced the appointment of seasoned US-based wireless executive Jeff Brown as the new CEO.
Aidan Dillon, CTO of Accuris Networks told PCC Mobile Broadband in a recent briefing that the funding will go towards building their new customer base, future proofing their new range of products and solutions and developing new ideas and offerings in the marketplace. The USD15 million funding comes at a time where Wi-Fi solutions are becoming increasingly important as part of mobile operators HetNet strategy. Aidan said that demand for data has grown tremendously, spurred by consumption of rich media content such as videos, that even with full 4G LTE coverage, mobile operators are looking out to alternatives to offload traffic and to save bandwidth on their mobile networks to ensure high quality of service and increased end-user satisfaction. The new funding will accelerate Accuris Networks' initiatives and product portfolio in this segment, enabling the company to help mobile operators integrate Wi-Fi into their existing network infrastructure to create seamless network experience.
Ulster Bank Diageo's Managing Partner, Michael Murphy in his statement highlighted the success of Accuris Networks' AccuRoam platform while David Lam, Managing Director of China Ireland Technology Growth Capital Fund foresees Accuris expanding its market presence to cover more operators in near future.
"Our established industry customer base, our significant pipeline and our industry-leading technology were all factors that attracted this investment. We intend to use this funding to invest in future product development in our AccuROAM™ platform, to maintain our lead in connecting networks and build more solutions such as carrier-grade Wi-Fi offload and roaming as we scale our business globally. While we already have customers worldwide, we particularly want to expand in China, Japan and other Asian markets. We also intend to consolidate and amplify our successes in EMEA, particularly in the Middle East and Western Europe."
- Larry Quinn, Accuris Networks Chairman
"With marquee customers and partners such as AT&T, Bell Mobility, Telus, GoGo, Cisco, HP and Alcatel-Lucent, Accuris Networks has already established an enviable track record in this market. But we've barely scratched the surface of the opportunities here so far."
- Jeff Brown, CEO, Accuris Networks
