Iperia Inc. and Tyne Partners LLC Complete Transaction Creating New Company
WALTHAM, MA —Iperia Inc. and Tyne Partners LLC, a U.S. based private equity firm known for their operating expertise, completed a transaction creating Tyne Mobility, Inc. on February 6 2009. Tyne Mobility, Inc., the new operating company, will continue to do business as Iperia.
Mark Phillips, founder and chairman of Tyne Partners, stated, "We are very excited about the Iperia partnership. Iperia has a great brand and successful track record in the service provider market, with the potential to expand their presence in the mobility and the enterprise space. Iperia also has the best unified voice platform with the broadest set of applications in its category. Their next generation product is built completely on a Service Oriented Architecture and has one of the most extensive web services libraries I have seen in the market."
"The new partnership will provide the leadership, experience, and capital to grow Iperia's business in both existing and new markets, which will benefit customers, employees and shareholders in the long term," added Sam Waicberg, Iperia CEO.
"With the creation of this new entity, we believe the foundation is in place for this company to become one of the top players providing unified voice, messaging, and mobility applications," said Mr. Waicberg. "Furthermore, we see that service providers and enterprises are stuck with "dead end" voice messaging systems from companies that went out of business, got acquired, or stopped investing in their development. These service providers and enterprises are looking for ways to offer new applications to their customers or employees, and are partnering with Iperia to meet these demands. We believe the timing is right for Iperia to experience significant growth."
About Tyne Partners, LLC
Tyne Partners, LLC is a private equity firm focused on acquiring controlling interests in businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. Tyne Partners maintains offices in San Jose, CA and London.
About Iperia
Iperia is a leading global provider of next-generation voice and messaging applications that increase revenue, competitive differentiation, and customer satisfaction for wireline, wireless, cable, and VoIP carriers. Iperia's family of carrier-class products, including its award-winning flagship IperiaVX platform, is built entirely on a Service Oriented Architecture delivering the scale, reliability, and extensibility service providers expect in order to serve mission-critical enterprises and residential customers. Established in 1997, Iperia's products empower service providers on a global basis and have world wide distribution partners.
