TELARIX RECEIVES GROWTH EQUITY FROMBROWN BROTHERS HARRIMAN CAPITAL PARTNERS III AND EDISON VENTURE FUND
Company to Leverage Funding for further Growth of the IXLink
Global Telecommunications Information Exchange
Glen Kazerman appointed Chief Executive Officer
VIENNA, Va.—March 31, 2010—Telarix, Inc., the leading provider of business information exchange and interconnect OSS/BSS solutions for content providers, IP service providers and global fixed and mobile operators, today announced it has secured $20 million in growth capital from Brown Brothers Harriman Capital Partners III (“BBH Capital Partners”), a private equity fund sponsored by Brown Brothers Harriman & Co., and Edison Venture Fund. The new funding will support the continued growth of iXLink, a global business information exchange service for the telecom community that was founded in conjunction with some of the world’s largest carriers.
"Telarix’s combination of breakthrough technology, commanding market leadership and strong management team made this an attractive investment for our fund” said Jeffrey Meskin, Managing Director and Co-Head of BBH Capital Partners. “Telarix is transforming the way carriers conduct business with one another and we are excited to support the company as it continues its track record of growth and innovation.”
The investment from BBH Capital Partners comes as Telarix marks a successful 2009 with the continued growth and market leadership of the company’s two business lines, iXTools® and iXLink®. Telarix’s iXTools is a powerful suite of software modules that provides carriers with an end-to-end management and optimization solutions for their interconnect business. Eight of the world’s ten largest telecom providers now depend on iXTools to manage their interconnect business.
2009 was also a watershed year for iXLink with over 625 members now using the service to automatically exchange business information with their trading partners. In addition, iXLink introduced three new services including; Price List Receipt with Dial Code Mapping to simplify and automate their purchasing process and a next generation CLI monitoring service which provides mobile, fixed-lined and VoIP carriers the ability to accurately verify Calling Line Identification (CLI) for mobile and landline destinations worldwide. iXLink’s recently introduced Benchmarking service which positions iXLink as an independent third party provider of benchmarking information, including pricing and quality data, related to the international wholesale telecommunication market.
Last year, iXLink was awarded the distinguished Global Telecoms Business Innovation Award which honors the most innovative telecommunication achievements that have redefined the present and future course of the industry.
“As a strategic investor in Telarix since 2003, Edison Venture Fund has been delighted to see the company succeed and become the leader in the interconnect OSS/BSS market,” said Gary Golding, Edison Venture Fund General Partner. “We are excited by the opportunity to partner with BBH Capital Partners to support Telarix’s long-term strategic business goals.”
As part of this transaction Glen Kazerman has been appointed Chief Executive Officer. Mr. Kazerman has been with Telarix for four years acting as the Senior Vice President of Sales and Marketing and most recently as the Chief Operating Officer. Don Lynch, who has led the company as CEO for the past four years, will continue to maintain an active role in the company as a Senior Advisor focusing on future iXLink and Industry initiatives. As well, the company has named Michael Salsbury as General Counsel. Mr. Salsbury is the former General Counsel of MCI and former Managing Partner of Jenner & Block's Washington DC office
“BBH Capital Partners’ new investment and Edison Venture Fund continued support is a testament to the strength of our technology and overall market strategy,” said Mr. Kazerman. “We are entering a very exciting new phase of our business and remain uniquely positioned to deliver the most innovative solutions to telecom carriers’ most complex challenges. With this substantial financing round, Telarix is poised to dramatically increase revenues and expand its market share.”
About Telarix, Inc.
Telarix, Inc. delivers the leading business information exchange and interconnect OSS/BSS solutions for content providers, IP service providers and global fixed and mobile operators. iXLink is a neutral business exchange service designed specifically for the telecom industry. Created in conjunction with a number of the world’s largest telecom providers, iXLink provides a secure, reliable business-to-business information exchange platform that enables communication service providers to automate business processes as well as quickly and efficiently access and share business documents among their trading partners. Telarix's innovative platform, iXTools, provides the real-time business intelligence required to manage costs and drive profitability on interconnect networks. By analyzing both revenue and cost information associated with telecom traffic in near real-time, service providers can optimize all aspects of their interconnect business including partner agreement management, trading, traffic routing, network provisioning, billing, invoice reconciliation and dispute management. Please visit www.telarix.com and www.ixlink.com for more information.
About BBH Capital Partners
BBH Capital Partners typically invests $10 million to $30 million of one-stop junior capital in lower middle market companies in a variety of transactions including management or leveraged buyouts, growth financings, recapitalizations and acquisitions. Typically, BBH Capital Partners seeks to invest in companies with enterprise values ranging from $20 million to $200 million. By investing in a variety of subordinated debt and equity securities in control and non-control transactions, BBH Capital Partners offers highly customized financing solutions for companies seeking capital. For more information please visit www.bbh.com.
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 8 million. Edison typically serves as the sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, New York, NY, Needham, MA and McLean, VA. Industry specialties include application software, communications, financial technology, interactive marketing, and healthcare IT. Edison’s successes include Axent, MathSoft, POMS, Mapics, Netegrity, Visual Networks, VirtualEdge, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. www.edisonventure.com
FOR FURTHER INFORMATION, CONTACT:
Lisa Perez, Telarix, Inc. (703) 564 9626 ~ firstname.lastname@example.org
Melissa Kanter, Edelman for Brown Brothers Harriman (212) 704 8261 ~ email@example.com
Tricia Bradley, Edison Venture Fund (609) 873 9224 ~ firstname.lastname@example.org