SINGAPORE--20 Aug--Xinhua-PRNewswire-AsiaNet/InfoQuest
Consistel Pte Ltd today announced the completion of a successful round of equity financing jointly led by JAFCO Asia and Intel Capital. Consistel is a wireless network solutions provider and system integrator specializing in in-building coverage solutions, network planning and optimization, revenue assurance and other network services for the wireless telecommunications industry, which is undergoing significant transformation from 2G to 3G/3.5G and WiMAX.
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"We are pleased to be included in the investment portfolios of JAFCO Asia and Intel Capital. We believe this will enable us to strengthen and expand our market presence and continue to develop industry-leading solutions for the wireless telecommunications industry," said Masoud Bassiri, Chairman and CEO of Consistel Pte Ltd.
"We are excited to become part of Consistel, and hope to work closely with its exceptional management team to further scale the business into new geographies and business segments. Consistel's strong market position and excellent growth prospects made for a compelling investment opportunity," said Byron Askin, Senior Director of JAFCO Asia.
"Today's announcement illustrates the momentum behind mobile broadband wireless technologies," said Sudheer Kuppam, Managing Director, Intel Capital India, Japan, Australasia & South-East Asia. "Indoor coverage solutions are a rapidly expanding mobile market sector, particularly in South Asia and the Middle East. Our investment in Consistel is part of Intel Capital's strategy to expand usage while creating new capabilities for high-speed wireless networks worldwide."
Consistel has engaged with over 40 major mobile phone operators throughout South Asia and Middle East. With offices in 10 countries, the company has quadrupled its bookings and contracts in the past 12 months.
"The investment from JAFCO Asia and Intel Capital will not only assist us to accelerate the roll-out of our large backlog of orders but also fuel our efforts to secure more orders in the rapidly growing cellular mobile markets in Asia and the Middle East. Consistel will be entering into an exciting new phase in its growth," added Masoud Bassiri.
About Consistel
Consistel is a global wireless solutions provider and system integrator specializing in In-Building Wireless Coverage solutions, Revenue Assurance and wireless network services ranging from business and technical consulting to network design, deployment and management. Consistel's in-building solutions empower wireless operators to increase and enhance their coverage, especially in wireless blind-spot environments such as in buildings and in tunnels.Consistel is also a leader in total revenue assurance solutions. Based on a fully integrated software platform, Consistel offers one of the most powerful platforms available for end-to-end revenue assurance addressing leakage and fraud. With customers spanning 40 countries and solutions powering more than 2,600 systems/buildings across South Asia and the Middle East, millions are benefiting from Consistel's solutions. For more information, please visit http://www.consistel.com
About JAFCO Investment (Asia Pacific) Ltd
JAFCO Asia is one of the leading brands in the venture capital industry in the Asia-Pacific region. Its primary focus is to invest in promising technology enterprises with high-growth potential. Established since 1990 and with offices in Singapore, Hong Kong, Beijing, Taipei and Seoul, JAFCO Asia manages more than US$850 million in funds with a track record of over 330 portfolio companies and over 220 exits, of which more than 80 have been publicly listed. JAFCO Asia's parent company, JAFCO Co., Ltd. ("JAFCO"), is listed on the Tokyo Stock Exchange and is the preeminent Japanese venture capital manager with more than US$2.5 billion committed worldwide. JAFCO is part of the Nomura Group of Companies. For more information, please visit http://www.jafcoasia.com
About Intel Capital
Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than U.S. $6 billion in approximately 1,000 companies in over 40 countries. In that timeframe, about 157 portfolio companies have gone public on various exchanges around the world and another 187 have been acquired by other companies. In 2006, Intel Capital invested about US$1.07 billion in 163 deals with approximately 60 percent of funds (excluding Clearwire) invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit http://www.intelcapital.com
Media contacts:
Ruby Lim
Consistel Pte Ltd
Tel: +65-6396-7000
Mobile: +65-8188-2148
Email: [email protected]
Nick Jacobs
Intel Asia Pacific
Tel: +65-6213-1294
Mobile: +65-9835-6212
Email: [email protected]
Bryon Askin
JAFCOASIA
Tel: +65-6228-9315
Email: [email protected]
SOURCE: Consistel Pte. Ltd.
--Distributed by AsiaNet ( www.asianetnews.net )--
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