Intel Capital and IFC Invest US$ 7.8 Million in Altobridge Growth
BARCELONA, Spain, February 24, 2013-- Altobridge (www.altobridge.com), specialists in technology that cuts the cost of delivering mobile voice and data across wireless networks, has today announced that Intel Capital and IFC (International Finance Corporation) has made a follow-on investment of US$ 7.8 million in the company.
This new investment will provide Altobridge with additional capital to accelerate the pace of roll-out of its mobile data optimisation solution, Data-at-the-Edge™, in both urban and rural markets globally.
Data-at-the-Edge™ (DatE™) optimises data delivery for mobile network operators. It is a self-learning, content pre-positioning platform that enables network operators to drive down their data transmission costs while, at the same time, dramatically improving their end-users’ Quality of Experience. The broad spectrum of its functionality includes HTTP acceleration, in-line data and header compression, user data caching at the cell site, data traffic management and least-cost routing.
Since its Series C funding round in 2011, Altobridge has taken DatE™ from concept to full commercialisation, exemplified in the company’s recent announcement of a significant DatE™ enabled, 3G mobile broadband rollout with Maxis Berhad, Malaysia’s largest integrated communications service provider. Meanwhile, commercial trials for urban DatE™ deployment are pending with leading network operators in Europe and North Africa.
“Since our last funding round, we have expanded rural connectivity in Indonesia, Malaysia, Iraq, Niger and Ghana, whilst at the same time we have made Data-at-the-Edge™ a commercial reality. With some industry analysts forecasting a 13-fold increase in global mobile data traffic by 2017, wireless network infrastructures face a major challenge to keep pace with this level of demand. Managing, optimising and caching mobile data at the point closest to consumers’ mobile devices is the key to alleviating backhaul pressure. DatE™ does precisely this, and the way in which we implement it makes it the first commercially deployed solution of its kind,” said Mike Fitzgerald, Chief Executive, Altobridge.
“This growth investment will help fund our cashflow requirements through our continuing growth and it is further testament to the ongoing financial and strategic support provided to us by IFC and our lead investor, Intel,” he added.
Since 2002, Altobridge has developed wireless network solutions that reduce network operating costs in the delivering of mobile voice, mobile broadband and big data services.
Central to this lie a series of patented and patent-pending technologies namely; Data-at-the-Edge™ (intelligent mobile broadband data optimization and delivery across wireless networks), Local Connectivity™ (local voice switching) and Split Architecture™ (transmission and power optimization), all of which, drive down communications delivery costs for mobile network operators by reducing backhaul and power consumption costs. Altobridge is headquartered in Ireland and has further bases in the USA, China and Malaysia, covering sales, R&D, customer support and manufacturing.
Altobridge solutions are deployed and operational in over 30 countries worldwide.
Altobridge is a privately held company. Shareholders include its employees, Intel Capital, IFC and Enterprise Ireland.
About Intel Capital
Intel Capital, Intel’s global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital is stage agnostic and invests in a broad range of companies offering hardware, software and services targeting enterprise, digital media, mobility, consumer Internet, semiconductor manufacturing, and cleantech. As of November 30, 2012, the Intel Capital investment portfolio is valued at approximately US$1.5 billion.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.
Visit Altobridge at Stand G11, Hall 7, Mobile World Congress 2013.
Peter Tuomey, VP Marketing
Tel: +44 7765 665 045
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