TynTec Ltd. Receives Investment from HarbourVest Partners Investment to support global expansion plans
June 26, 2008 – Isle of Man/London, UK, Munich, Germany
Mobile messaging operator TynTec (http://www.tyntec.com/) today accepted a significant minority investment from HarbourVest Partners, LLC, a global private equity investment firm. The funds will assist TynTec’s rapid expansion into Asia, the Middle East and Africa and will help accelerate market penetration of the company’s recent product innovations. HarbourVest investment professionals Alex Rogers and Claudio Siniscalco will be joining TynTec Ltd’s Board of Directors.
Ralph Eric Kunz, Co-Founder and Chairman of TynTec, said: “We are delighted by HarbourVest’s investment in our business. We believe their experience as an investor in growth companies with technical and market leadership will help TynTec continue to grow and enhance its product offering.”
Robert Wadsworth, Managing Director of HarbourVest, said: “TynTec is the preeminent technology leader in the fast growing enterprise-quality SMS market, and is being relied upon increasingly by its customers to deliver mobile messaging applications in mission critical environments. HarbourVest are strong believers in the continued growth of SMS as one of the world’s primary global communication media, and we are looking forward to this new partnership and helping TynTec to achieve global scale.”
TynTec differs from traditional SMS providers because the company can offer operator-level SMS services, enabling greater speed, reliability and measurability than standard messaging services. As well as guaranteed delivery in less than 15 seconds, TynTec can also provide full delivery receipts and a guarantee of control and security of the message direct to the handset. Michael Kowalzik, CEO of TynTec, said: “We are excited to embark on this next phase of growth for our company alongside HarbourVest Partners, and believe that their global presence, combined with their financial and strategic backing will provide TynTec the appropriate platform from which to further execute our global expansion strategy. For instance, HarbourVest will help us accelerate the market penetration of our innovative products including International Messaging Transit, a SMS hubbing platform for operators, or OneNumber, which allows businesses and internet service providers to receive any communication form (voice, fax, SMS, VOIP calls, MMS, etc) on a single phone number.
TynTec and its shareholders were advised by Corporate Finance Partners, Frankfurt, Germany. To learn more visit http://www.tyntec.com/
TynTec is a mobile messaging operator, offering enterprise-quality SMS services to mobile network operators, enterprises, internet companies and mobile services providers. The company offers operator-level messaging services through its unique multiple points of connectivity into the SS7 global mobile network and its proprietary technical infrastructure. Because TynTec acts as a messaging operator it can offer more advanced and reliable services than traditional SMS providers and can back up its services with rigorous service level agreements (SLAs). TynTec offers connection into more than 150 countries, and also has multiple points of back-up in case of the failure of a single node.
TynTec offers its clients a broad range of messaging services including outbound mobile messaging (Enterprise and banking messaging, SMS Hubbing), unified inbound communications (e.g. reception of voice, SMS, fax, etc.) and real time network data (e.g. home network, location and/or subscriber availability information).
Based in the UK, Germany and Singapore, TynTec works with clients including O2, Lufthansa Systems, Accenture, British Airways, Unilever and Skype.
About HarbourVest Partners, LLC:
HarbourVest Partners, LLC is an independent global alternative investment firm and an SEC-registered investment advisor. HarbourVest provides investment programs for institutional investors to invest in venture capital, buyout, mezzanine debt, distressed debt, and real estate. HarbourVest invests in these sectors globally through primary partnerships, secondary purchases, and direct investments. HarbourVest and its subsidiaries have 202 employees, including 74 investment professionals deployed in Boston, London, and Hong Kong. In over 25 years of investing in private equity, the team has invested $3.1 billion directly in operating companies, committed more than $19.8 billion to newly formed funds, and also completed over $5.0 billion in secondary purchases. The firm’s clients consist of 250 institutional investors, including pension funds, endowments, foundations, and financial institutions throughout the U.S., Canada, Europe, Australia, and Japan.
Since its inception, HarbourVest has invested over $900 million directly in over 157 growth stage enterprises around the world. Current investments in Europe include Acision, Envivio, Flash Networks, Kiala, Nero, Panda Security, Servista and World Check.
Corporate Finance Partners acted as an exclusive adviser to the shareholders of TynTec in this transaction.