SAN JOSE, CA - SS8 Networks announced today that it has completed the sale of its signaling and SMS businesses to NewNet Communication Technologies, a limited liability company formed by Skyview Capital LLC, a privately held investment firm. Financial terms of the asset purchase agreement were not disclosed.
"The strategic sale of our Signaling and SMS businesses is part of our efforts to meet increased demand for our products, develop new product lines, and improve customer service in all our business segments," said Dennis Haar, president and CEO for SS8 Networks. "The newly formed NewNet Communication Technologies will be best-positioned to serve our existing SMS and Signaling customers by offering increased support as well as developing new product lines. In turn, SS8 Networks will be able to refocus our attention on our core lawful intercept and voice messaging business."
According to the terms of the deal, the Signaling and SMS businesses, which include a core team of SS8 Networks employees, will deliberately, seamlessly and transparently transition to NewNet Communication Technologies. This new independence will enable an increased focus on customer service, product line development and product deployment in the SMS and signaling sector. "SS7 signaling and SMS both continue to be essential, pervasive technologies in service provider networks today and we are delighted by the opportunity to become market leaders within this dynamic and evolving segment of the telecommunications industry," said Alex Soltani, Chairman and CEO, for Skyview Capital. "We are looking forward to working with this highly seasoned management team, as we continue to drive NewNet Communication Technologies into the future of next generation products and applications."
Technology M&A Practice (Formerly Pagemill Partners), a premier investment bank that specializes in mergers and acquisitions, was involved in an advisory capacity to SS8 in this transaction.
About Skyview Capital
Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of "systems - 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. For more information, visit www.skyviewcapital.com.
About SS8 Networks
SS8 Networks, headquartered in San Jose, Calif., is an independent provider of carrier-grade, regulatorycompliant electronic surveillance solutions that have been deployed on all continents for the largest wireline, wireless, cable, VoIP and satellite service providers. These voice and data installations can already intercept more than 500 million subscribers, and serve over 10,000 law enforcement agents. SS8's expertise in communications forensics ensures that intercepted traffic is securely targeted, seized, stored, transferred and analyzed, so that evidentiary chain of custody is maintained for successful criminal prosecution. For more information, please go to www.ss8.com.
NOTE TO EDITORS: SS8 Networks is a registered trademark of SS8 Networks Inc and Xcipio is a trademark of SS8 Networks Inc. All other company names and marks may be trademarks of the respective companies with which they are associated.
Connect2 Communications for SS8 Networks
Steve Polilli | 919 554 3532x3 | [email protected]
Skyview Capital, LLC | Jeffrey H. White | Vice President, Business Development
310-273-6000 | 310 273 6006 (fax) | [email protected]
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