Wicom growth fuelled by new round of funding

WICOM GROWTH FUELLED BY NEW ROUND OF FUNDING Accenture Technology Ventures, 3i and Stratos Ventures Participate in Wicom's Third Round of Venture Funding Helsinki, 18 September 2001 -- Wicom Communications Ltd announced that it had closed its third round of venture capital funding. Participants in the round were Accenture Technology Ventures, 3i and Stratos Ventures. Wicom, a leading provider of world-class communications management solutions including contact centres, advanced enterprise telephony solutions, and contact management applications for fixed and wireless IP (Internet Protocol) environments received US$ 12 million from the three venture capital companies. Wicom is a privately owned company headquartered in Espoo Finland. Wicom was established in 1999 as a spin off from Merlin Systems Oy (established 1989). With over 10 years of experience in CTI (computer telephony integration) applications, Wicom has become one the most established providers of Voice over IP (VoIP) based communications management solutions. Wicom also has offices in Amsterdam (The Netherlands), Munich (Germany) and Tampere (Finland). Wicom solutions are entirely based on IP architecture, with the award winning Wicom CSS as the main product. In order to help manage customer relationships Wicom utilizes the possibilities of IP technology and converging multiple communication channels, such as phone calls, email and fax. Compared to traditional technologies, Wicom IP-based solutions allow companies to deploy communication solutions with increased efficiency, flexibility and scalability at a lower cost and with a faster time to market. Wicom is currently in a position to build on several developments in the VoIP market: the deregulation of the telephony industry, the increasing trend for businesses to focus on core competencies and to outsource technology solutions, and the large demand for multiple channel contact centres. Wicom products and solutions are built on the leading technology platforms and standards in the industry. Wicom technology partners are Brooktrout, Cisco Systems, Microsoft, and Symbol Technologies. Commenting on the announcement, Ilkka Kivimäki President & CEO of Wicom Communications said, "It is of great benefit for the acceleration of Wicom's growth to have, the funding that Accenture Technology Ventures, 3i and Stratos Ventures provide for Wicom to execute both its R&D and growth strategy to move towards market leadership. In addition, the experience, reach and market knowledge provided by these prominent investors will be valuable to Wicom." Jonas Serlachius, a Partner at Accenture Technology Ventures, said: "Wicom is operating in a tremendously exciting market. VoIP in business applications is one of the real growth areas of IP-technology and we expect Wicom's performance to reflect this potential. The network telephony solutions developed by Wicom are more flexible and can have a significant cost advantage over traditional PBX-based telephony systems. Wicom is very well positioned to take advantage of the technology shift to IP-networks. We are very delighted about this investment." Wicom is the first investment made by Accenture Technology Ventures in Finland. "We are continuously looking to reinforce our network of business through alliances and direct investments. Our focus in Finland is on software companies operating in telecommunications and digital media area" says Risto Valtakari the partner responsible for Accenture's Business Launch Centre in Helsinki. "Wicom is acknowledged as the leading company in this field both technologically and commercially", says Investment Manager Kimmo Korpela from 3i Finland. "Users can access Wicom's solutions through the web browser, which makes their technology extremely flexible and cost- effective to use." "Wicom has already shown clear evidence of its capabilities in both developing a leading edge product and also bringing it to the market. With its advanced solutions the company has been able to attain an excellent market position on the rapidly growing VoIP market. In addition, Wicom has already built an international partner network, which enables quick growth", Korpela continues. Sami Sarkamies, Chief Operating Officer at Stratos Ventures, said: "Wicom is a clear forerunner and has demonstrated the ability to implement and commercialise the vision of future communication applications. Finland, the test market for Wicom, already today strongly validates the superiority of the product, as numerous large corporations with customer service needs from various industries have been convinced by the products of Wicom. "VoIP based call and contact centre solutions are a prime example of a market, where new, more flexible and versatile technology not only replaces existing legacy systems but also increases the overall market due to its extreme cost-competitiveness. Additionally, VoIP based systems enhance the integration opportunities with other enterprise information systems and thus allow for a greater value added", Sarkamies added. About Wicom Communications Wicom Communications is the forerunner in developing and a leading provider of world-class communications management solutions - contact centres, advanced enterprise telephony solutions, and contact management applications for fixed and wireless IP environments. Wicom products and solutions are available through selected ASP, VAR and OEM partners serving the global business community. For more information, please visit our web site at http://www.wicom.com. For more information, please contact: Ilkka Kivimäki, President & CEO, ilkka.kivimaki@wicom.com, +358 9 525 77501 About Accenture Technology Ventures Accenture Technology Ventures, helps talented entrepreneurs build companies that can transform entire industries, create new markets and ultimately generate superior economic returns. Our portfolio includes more than 70 innovative companies that are building key components of tomorrow's infrastructure and improving the way the world works and lives. Launched in December 1999, Accenture Technology Ventures is the venture capital unit of Accenture, the world's leading provider of management and technology consulting services and solutions. Its home page address is http://www.accenturetechventures.com. For more information, please contact: Sean Galvin, Accenture Media Relations, Sean.D.Galvin@Accenture.com +44 (207) 844-3965 About 3i 3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buyouts and buy-ins, focusing on businesses with high growth potential and strong management. 3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA: To date, 3i has invested in over £13.5 billion (including co-investment funds). In the 12 months to 31st March 2001, an average of £7.8 million (including co- investment funds) was invested each working day. 3i's current portfolio is valued at almost £6 billion. http://www.3i.com For more information, please contact: Kimmo Korpela, Investment manager, kimmo_korpela@3i.com, +358 40 505 7850 About Stratos Ventures Stratos Ventures is a European early-stage venture capital company investing in information and communications technology companies with substantial global growth potential. Stratos Ventures focuses its investments on selected clusters within wireless communications and wireless Internet. Stratos Ventures has offices in Helsinki, London and San Diego. Please visit Stratos Ventures' web site at http://www.stratosventures.com for more information. For more information, please contact: Sami Sarkamies, Chief Operating Officer, sami@stratosventures.com, +358 9 4243 2502 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/18/20010918BIT00190/bit0001.doc http://www.waymaker.net/bitonline/2001/09/18/20010918BIT00190/bit0001.pdf