25 Dec 2008
ICON has successfully advised the shareholders of Aria Networks on the completion of a £2 million fundraising secured from Seraphim Capital’s venture capital fund based in the UK.
Aria Networks, is a leading provider of planning and optimisation solutions for Next-Generation Networks. Their technology is highly disruptive and has the capability to fundamentally change the economics of a telecom operator’s business.
Using Aria’s intelligent network planning software, telcos are able to design, plan, optimise and operate their Next-Generation Networks. Aria is capable of doing in minutes what it takes large teams of engineers and planners months to achieve. Furthermore, the functionality provided by Aria enables telecom operators to economically build their network and to reliably deliver the myriad of services they offer, including voice, data, broadband and television services over a single network.
Commenting on the investment Tony Fallows, CEO of Aria said: "We are pleased to have completed this round of investment. Over the last year we have made significant progress with our customers and partners around the world. With Seraphim’s backing, we now have the capability to further execute on our unique technology and business strategy”.
Eddie Harding of ICON Corporate Finance who advised Aria’s board on the deal said “Aria has a unique product offering for the huge and fast growing OSS market, and in a very short period of time has won a number of top tier reference customers in the sector. This funding from Seraphim will help the Company to accelerate its current growth path and become a truly global technology offering.”
“Aria is an outstanding investment opportunity”, said Mark Boggatt, Investment Director at Seraphim Capital. “Aria has a perfect blend of world-class technology and an exceptional management team. The Company has already demonstrated its ability to work with some of the world’s leading telecoms companies and vendors and with this injection of funds we believe the company will enter a phase of rapid growth.”
Aria Networks is a finalist of Red Herring 100 Europe, an award given to the top 100 private technology companies based in the EMEA (Europe, Middle East and Africa) region each year.