Additional Investments Further Solidify XACCT’s Market-Leading Position in Providing “Network-to-Business” (N2B) Platform
London, March 1, 2001- XACCT Technologies, the leading provider of business infrastructure software solutions for IP networks, today announced that Sun Microsystems, Inc. (Nasdaq: SUNW); Technology Crossover Ventures (TCV); Ampal-American Israel Corporation (NASDAQ: AMPL, NASDAQ-SCM: AMPLP); Trident; and others have made further strategic investments in the company. The total investment of US$26 million brings cumulative financing to-date from all investors to more than US$77 million.
XACCT will use the funds to further its rapid expansion as it continues to offer its “Network-to-Business” (N2BÔ) platform to Network Service Providers around the world.
XACCT’S N2B platform provides a real-time link between the network and the business so that service providers can understand how their network is being used and translate this understanding into revenue and profit. XACCT’S N2B platform enables the creation of new services and is a strategic tool for making data services profitable.
"The unobtrusive collection and presentation of detailed information about service usage is essential to the provisioning and billing of next-generation IP-based services," said Brian Sutphin, vice president of Strategic Investments at Sun Microsystems. "We are pleased to support XACCT's efforts to provide a key component of the platform that service providers need to derive revenues from the services and service levels required by their customers."
“Ampal’s primary investment focus is the growing high-technology and communications leaders,” said Raz Steinmetz, president and CEO of Ampal-American Israel Corporation. “With a global-minded vision and well-established global customer base, XACCT has created a solid business strategy designed to help service providers everywhere enhance profitability by better understanding and anticipating network needs in developing profitable IP services.”
“At TCV, we invest in companies with proven products or services,” said Jake Reynolds, general partner of TCV. “XACCT has established a leadership position in this market and we are pleased to help further their expansion. Without XACCT, service providers would be shooting in the dark when it comes to developing new profitable services.”
“This shows that XACCT is on track in our focused effort to be the leader in making data services profitable," said Eric Gries, president and CEO of XACCT Technologies. “Each of these investors is keenly aware of the profitability pressures that network service providers face and XACCT’s unique ability to help service providers profit from the Net.”
About XACCT Technologies
XACCT Technologies is the market and technology leader in intelligent business infrastructure software for Internet carriers and network service providers. XACCT’s award-winning, carrier-class Network-to-Business (N2B™) platform speeds time to market and time to revenue for new Internet services while lowering service provider costs. XACCT offers the industry’s first and only platform that enables real-time data capture and enhancement; seamless integration with any upstream business or operations application; and instantaneous, flow-through service provisioning. With offices around the globe, XACCT has more than 60 customers, including Bell Canada, Broadwing, Cable & Wireless, Digital Island, Global One, Genuity (formerly GTE), Mannesman Ipulsys, WorldCom, Siemens, TV Cabo, and Verio.
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