 |
 |
 |
||||||||||||||
|
 |
 |
 |
|
 |
|
 |
|
 |
|
 |
|
||||
| < 2005 News Listings | ||||||||||||||||
|
COSTA MESA, CA March 8, 2005 Netifice Communications Inc., a leading provider of flexible IP Virtual Private Network (VPN) solutions to businesses worldwide, today announced that it has raised $55 million in new funding and has acquired the Managed SSL VPN Services business from Aventail Corporation for an undisclosed amount. This acquisition makes Netifice the largest provider of managed SSL VPN services and the only U.S. Managed Service Provider capable of providing a full range of integrated remote access and site-to-site IP VPN services, including SSL, IPSec and MPLS. It also strengthens Netifice's wholesale distribution capabilities and provides existing Aventail channel partners with a wider range of value-added service offerings, additional support resources, and increased focus and technical expertise. This acquisition combines the strength of Netifice's Managed IP Services with Aventail's unrivaled SSL VPN technology to provide customers with a best-in-class, one-stop-shop for managed remote access, teleworker and branch office VPN services. Netifice is now the only U.S. Managed Service Provider that can deliver seamlessly integrated SSL/IPSec/MPLS site-to-site and remote access VPNs. As a result, Netifice offers service provider partners the ability to deliver a more comprehensive set of value-added solutions to their customers without the cost and complexity of dealing with multiple vendors. "Netifice has been recognized as a visionary leader in Managed IP Services for its innovative, customer-centric solutions," said Craig Young, Chairman and Chief Executive Officer of Netifice Communications. "The combination of this funding and acquisition signifies Netifice's emergence as an industry powerhouse. By complementing our existing products with this Managed SSL VPN Services business, Netifice is even better positioned to serve our customers' and partners' needs, and solidify our leadership position in the industry." The addition of Aventail's market leading Managed SSL VPN Services business is a strategic fit and cements Netifice's leadership position in the Managed VPN arena. Aventail's Managed SSL VPN Services currently dominate the market, with Aventail serving some 95 percent of the managed SSL VPN customers globally through Service Providers such as AT&T, BT Spain, IBM Global Services, Infonet, MCI, Sprint, SITA SC, and many others. The SSL VPN market is expected to grow 60 percent annually over the next several years and reach $1 billion by 2010. With the acquisition of Aventail's Managed SSL VPN Services business, Netifice is perfectly positioned to gain a large portion of this growing market. SSL VPN has emerged as the standard for remote access, and Netifice is partnering with the technology leader in the SSL VPN space. In addition to the acquisition, Netifice and Aventail have signed a four-year agreement for Netifice to purchase Aventail SSL VPN appliances in support of growing the Managed SSL VPN Services business. This ongoing relationship ensures that Netifice's Managed SSL VPN services will continue to include Aventail's latest technology enhancements and lead the industry as the most advanced remote access IP VPN services available. Netifice will operate the Aventail SSL VPN Managed Services business as a separate business unit, managed by the same executive team with no layoffs or relocation for these employees. So, Aventail's Managed SSL VPN Service customers and partners will continue to receive the same high quality service and support. "Netifice's market leadership and aggressive plans to build a managed IP services powerhouse makes them an ideal strategic partner for Aventail, our customers and our telecommunication partners," said Evan Kaplan, president and CEO, Aventail. "We look forward to working closely with Netifice to accelerate the growth of this business and continue to provide our partners and customers best-of-breed product and service." This round of funding includes all of Netifice's existing investors, Columbia Capital, Boston Millennia Partners, Dolphin Equity Partners and HIG Capital, plus two new investors, Fidelity Ventures and Rho Ventures. Netifice will use this funding to accelerate the growth of its site-to-site and remote access IP VPN business and expand its portfolio of value-added services organically and through strategic acquisitions. About Netifice Communications, Inc. Netifice Communications is a global provider of flexible IP VPN solutions that enable businesses to lower costs, increase scalability and expand the deployment of enterprise applications and communication systems. Netifice customizes its clients IP VPNs using the widest selection of access, security and communication options, combined with advanced systems for managing and monitoring their IP VPN. Customers can easily deploy expansive networks so that their corporate headquarters, regional offices, remote workers, and retail outlets can communicate with each other as if they were in the same location. Netifice is recognized by customers for delivering the highest quality service and support with industry-leading Service Level Agreements that guarantee site-to-site performance and reliability. For more information go to www.netifice.com or call 1-877-NETIFICE. About Aventail Aventail is the leading SSL VPN product company and the authority on clientless, secure application access. Aventail's family of Smart SSL VPN appliances increase productivity for end users and IT professionals while maximizing security and lowering costs. Aventail appliances are built on Aventail's proven platform, which leads the industry in End Point Control, policy management, and transparent, easy-to-use access options to the broadest range of applications. Headquartered in Seattle, Washington, Aventail has an extensive global network of channel partners and sales support offices, with Aventail technology meeting the secure communication needs of more than one million end users in over 75 countries. Aventail is positioned in the Leader quadrant in Gartner's 2004 SSL VPN Magic Quadrant and ranked as a Leader in the 2004 METAspectrum report on SSL VPNs. Major service providers, such as AT&T, Bell Canada, BT Spain, MCI, Netifice, Sprint, and SITA SC, leverage the Aventail SSL VPN platform and appliances for their own managed services businesses. To find out what Aventail customers like Aetna, DuPont, Office Depot, SANYO Corp, and TNT already know about Aventail's SSL VPN, go to www.aventail.com. Media Contacts: Netifice Tony Welz Welz Communications (703) 323-6006 Tony@W2comm.com Aventail Margaret Dawson Aventail Corp. 206.438.7218 mdawson@aventail.com © Netifice Communications 2005 æ |
|
|
Copyright ©2007 Rho Capital Partners, Inc.