NewNet Acquires NewPace
Halifax, June 10, 2014- – NewPace Technology Development Inc announced today that it has been acquired by NewNet Communications Technologies B.V. (based in Amsterdam). NewNet is a Portfolio Company of Skyview Capital.
Founded in 2009, NewPace is a member of Atlantic Canada’s growing community of startup tech-companies. NewPace provides professional software development services and develops Rich Communication Services (RCS) for global telecom carriers and handset manufacturers. With a staff of 28 based in Bedford, the company has received recognition locally from the Halifax Chamber of Commerce as one of the Best New Businesses of the Year (2010) and one of the Most Innovative Companies (2013), and internationally through GSMA Accreditation and as a finalist in the recent IMS Industry Awards.
NewNet’s Messaging Unit President, Krishna Viswanadham, said, “Our acquisition of NewPace will enable NewNet to provide enhanced messaging solutions. This will complement our current Krypton, Lithium, Mercury, and Cobalt SMS and MMS product lines. We have been working with the NewPace team since mid-2013 and see great traction for our combined product suite.”
“NewPace believes that NewNet is best positioned to capture the growing RCS market by merging our technologies, staff and services,” said Brent Newsome, the President and CEO of NewPace. “It is also exciting that as a small Nova Scotia company we have been able to attract the attention of global technology players like NewNet and a private equity firm like Skyview Capital.”
“We are excited to have NewPace’s innovative products and experienced staff join the NewNet team. Like capital, entrepreneurship, innovation and experience know no borders and we intend to leverage the company’s strategic presence in Halifax. The acquisition highlights yet another milestone in NewNet’s rapid and continued development. In fact, through organic growth and strategic acquisitions, NewNet has grown by nearly 1,200% since Skyview took ownership of this platform in 2007” said Alex Soltani, Chairman and CEO of Skyview Capital.
The share purchase agreement was signed June 5, 2014 with a simultaneous close. Terms of the agreement were not disclosed.
About Skyview Capital, LLC
Skyview Capital, LLC, is a global private investment firm headquartered in Century City, California, which specializes in the acquisition and management of “mission critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. The Los Angeles Business Journal recently recognized Skyview as one of the Top 25 private equity firms in Los Angeles. To date, Skyview has successfully completed over 20 transactions within its target market verticals. For further information, please visit www.skyviewcapital.com
About NewNet Communication Technologies
Headquartered in Arlington Heights, IL, NewNet is a recognized leader in mobility technologies with a primary focus in messaging, signaling, wireless broadband, consumer internet, multimedia content delivery, mobile advertising, and secure transaction processing. NewNet Communication Technologies is a part of the Skyview Capital LLC, portfolio of companies. For further information, please visit www.newnet.com
Founded in 2009, NewPace Technology Development provides Software Development, Systems Operations, and Applications support to a worldwide base of customers. Having developed large-scale VoIP offerings and implemented global Instant Messaging products, the NewPace team has substantial experience in telecommunications development and operations. The organization services a wide variety of global clients with tenured expertise in delivering robust, high availability and scalable telecom solutions. NewPace’s messaging products are fully compatible with LTE & VoLTE network infrastructure and the GSMA Rich Communication Service Specifications. For more information, please visithttp://www.newpace.com
For more information, or to schedule interviews, please contact:
Director of Communications, Newpace
NewNet Communication Technologies, LLC