Investment to support global expansion plans
Isle of Man & London, UK & Munich, Germany, July 7, 2008 (PRESSbooth.ORG) -- Mobile messaging operator TynTec (www.tyntec.com) 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, Harborvest 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.
Contact:
www.tyntec.com
www.harbourvest.com
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