Continuing Success for Vertical Takeoff Telecoms Company ECT Wednesday 31 January 2001 PDF Print The prodigy from Munich gets DEM 10 million from Advent International for product development and international sales Munich, 23 January 2001 - To allow it to continue its corporate growth and develop its product development and international sales activities further, European Computer Telecoms AG (ECT), the specialist supplier of new-generation software-based switching equipment for carriers, has been in search of financial backing to the tune of DEM 10 million. After evaluating the proposals of a number of venture capital companies and banks, ECT decided to go with the investment funds recommended by Advent International. Established in 1998, ECT has been profitable ever since, and has now been valued at DEM 250 million by Advent. The investors have been granted a 4% stake in the company in return for DEM 10 million. As new shareholders, the investors have also been given a seat on the supervisory board. As early as 1999, ECT's operating profit was DEM 5.2 million on a turnover of DEM 12 million. Even higher profits are expected for the year 2000. Advent International is headquartered in Boston and is among the largest international private equity companies in the world. With more than 50 equity holdings in telecommunications, this area is one of its main interests. Advent was impressed with ECT primarily because of its AutoCarrier(, the pioneering product that has been so successful on the softswitch market. The AutoCarrier(, a powerful platform for intelligent value-added services based on Internet-compatible software and open-standards computer technology, has been on the market since 1998. Both large public network operators and young up-and-coming carriers can use the softswitch to offer their customers innovative value-added services like service numbers or personal number services with unified messaging. ECT's customers include Smart Telecom, Tele2 and Telecom One. Jan Janshen, investment manager at Advent International in Frankfurt, explains: "We're convinced that before long, ECT will be the European market leader in software-based switching technology. ECT impressed us with its professionalism and the extraordinary strategic skills of its management. Within a very short time, the original team that set up the company, Dr. Marshall E. Kavesh, Dr. Hans Huber and Walter Rott, have succeeded in building up the company to international proportions - and keeping it in the black." Since it was established in 1998, the company has set up branch offices in Britain, France, Belgium, the Netherlands and Austria. Other service and sales offices are being set up in Scandinavia and Spain in the first half of 2001. This means that ECT has comprehensive coverage of Western Europe, its primary market, with the Vienna office acting as a bridgehead to Eastern Europe. There are medium-term plans to develop the Australian and Chinese markets too. "ECT will be able to use the funds from the investment and Advent International's wealth of experience in the field of telecommunications to continue its rapid expansion into new countries. We'll also use the opportunity to push ahead in product development. We want to be ready for CeBIT 2001 with new service applications and the INAP CS1 and CS2 protocols required for intelligent networks", says Dr. Marshall Kavesh, chief executive of ECT. "We will be building up our workforce from 42 to 60 employees during the course of this year so that we can continue to guarantee short product cycles and our closeness to the customer." The company's strategic plans also involve stock market flotation. "But we're taking a very relaxed approach to it," explains Marshall Kavesh. "Our enviable income/profit situation and our financial independence mean there's no pressure when it comes to deciding the best time to float the company." About Advent International Advent International is one of the world's largest international private equity firms, advising investment funds holding more than DEM 7 billion and active in more than 30 countries. Advent is one of the leading players in telecommunications, with more than 50 investments and a specialist team of experienced equity consultants. Its portfolio includes broadband providers like CyberCity (Denmark), alternative carriers like Jazztel (Spain) and CyberTron (Austria), manufacturers like Italtel (Italy) and software suppliers like JacobsRimell (UK) and AtoBe (the Netherlands). Since its founding in 1984, Advent has financed over 400 companies worldwide. More than 120 of these companies have completed initial public offerings on local and international stock exchanges with Advent's help. For more information, go to http://www.adventinternational.com About European Computer Telecoms AG European Computer Telecoms AG was established in Munich in 1998, not long after the German telecommunications market was liberalised. The company develops and manufactures next-generation public switching solutions on the basis of open-standard, Internet-compatible software and computer technologies. As well as providing intelligent switching and service platforms, ECT also helps its customers to open up new markets. Its services range from creating new sources of revenue, optimising the use of existing telecommunications infrastructure, to the rapid introduction of new services. ECT's customers include large public network operators as well as up-and-coming young carriers. The AutoCarrier(, a switching system developed and marketed by ECT, is the first ever softswitch to use one and the same hardware platform to provide a connection to the public telephone networks as well as to implement intelligent value-added services. This means that the AutoCarrier( can be used as an interconnect switch, a service node and as an IN platform. Network operators, telephone companies and Internet service providers can use service applications to respond instantly to changing patterns of demand in their markets. They can develop entirely new services, becoming innovators in their particular sector. A wide range of technologies - such as prepaid or postpaid billing, data warehousing, advanced routing, interactive voice response (IVR), web-based administration, automatic call distribution over the network, unified messaging, digital recording, text-to-speech and speech recognition - can be implemented as new, intelligent services without the need for high investment or long run-up periods. ECT is constantly developing and integrating other service applications, all of which can be implemented directly on ECT softswitches without any additional hardware. And the Internet can be used to make all services directly available to resellers and end customers. For more information, visit the ECT web site at http://www.ect-telecoms.co.uk For more press information: European Computer Telecoms AG Albrecht Faber Ridlerstrasse 55 D-80339 Munich Telephone: +49 (0)89 55 29 47 - 0 Fax: +49 (0)89 55 29 47 - 111 E-mail: firstname.lastname@example.org This press release was distributed by ResponseSource Press Release Wire on behalf of Text 100 London in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.