Birdstep Technology ASA and TeleVenture Private Equity establish VoIP company
Oslo/Stockholm/Seattle/Cambridge – October 2, 2006 Birdstep Technology ASA and TeleVenture Private Equity have established the joint venture VoiceRoaming Technology AS for development, marketing and sales of VoIP products ~
- The Voice over IP market is closely related to our Mobile IP technology and today used for mobile data only. Mobile VoIP is potentially another fast growing market, and with Birdstep’s technological platform and IPR, this is obviously an important future area for us. Forming a joint venture with the TeleVenture will shorten the road to commercialization and reduce financial risk for both parties, says Petri Markkanen, CEO of Birdstep Technology.
Birdstep Technology will own 55% and TeleVenture Private Equity will own 45% in VoiceRoaming Technology AS. Birdstep contributes with world class patented technology and Mobile VoIP knowledge. TeleVenture brings funds of NOK 10 million in equity as well as the first customer.
TeleVentures will also contribute with extensive knowledge about enterprise customers and consumer behavior, while Birdstep contributes with a global network of customers and partners.
- We see tremendous opportunities for the Mobile VoIP market, and through the collaboration with Birdstep we gain access to unique technology and get an entry to a market and a global network of mobile operators and partners. We believe in substantial market growth when the market takes off in 2008, says Rune Rinnan, CEO of TeleVenture.
VoiceRoaming Technology will offer products to Birdstep Technology, other resellers and system integrators, mobile operators and other network operators.
This VoIP challenge will be personally headed by Mr Haakon Bryhni, Birdstep’s current CTO, who will focus on the success of this new venture and thereby leaving his full time position as CTO of Birdstep. The newly founded company will employ a handful externally recruited people, all to be located in Oslo. The company plan to deliver the first commercial VoIP product during second quarter 2007. Broader market penetration is estimated to commence second half of 2007.
- As previously announced, Birdstep has already got Mobile VoIP on the roadmap for 2007. With TeleVentures as partner, we will exercise the full potential of our ideas. We are also very pleased with having lined up the company’s first customer, says Petri Markkanen of Birdstep.
About Birdstep (www.birdstep.com)
Birdstep Technology ASA is a public company listed on the Oslo Stock Exchange (OSE) under ticker ’BIRD’. The company is headquartered in Oslo, Norway with three wholly owned subsidiaries, Birdstep AB in Sweden, Birdstep Technology Inc. in Seattle, US and Birdstep Technology Ltd in Cambridge, UK.
Birdstep Technology is a global software development, marketing and sales company offering seamless connectivity and mobility client software for mobile data users on laptops, pocket PC and Smartphones as well as state of the art embedded database technologies.
About TeleVenture Management:
TeleVenture Management manages the Telenor Venture funds and TeleVenture Private Equity funds investments.
- Contact Information
- Robert Vangstad
- Birdstep Technology ASA
- Contact via E-mail
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