Aricent announces new funding from KKR & The Family Office

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Aricent , a global innovation, technology and outsourcing company focused exclusively on the communications industry, today announced the signing of   definitive agreements for new funding from existing investor KKR and a new investor, based in Bahrain, The Family Office.   Aricent plans to use the investment capital to accelerate the momentum of engagements with leading infrastructure, application and service providers worldwide, as well as expand the company's business activities in the Middle East.

 

"We continue to see strong validation that our combination of innovation, technology and communications domain expertise is a strong match for today's strategic sourcing requirements," said Sanjay Dhawan, president and COO of Aricent.  "We wanted to take advantage of our momentum by strengthening our balance sheet as the company continues to outpace the market in terms of growth and new customer acquisition.  In an environment where many incumbent players are still taking the "mile-wide-inch deep" approach, we are pleased to continue to invest in helping our customers deploy innovative solutions, laser-focused on the communications industry." 

 

James H. Greene, member of KKR added, "In 2007, we invested in and partnered with Aricent to help make a world class company even better.  Today's announcement builds on the company's strong results, providing Aricent with additional capital to continue to grow." 

 

Aricent achieved record business results in its Q1 FY '09 quarter, including:

• The highest quarterly revenue in the company's history at an annualized run rate of more than $470M;
• Signing 49 new customers, another quarterly record;
• The highest operating income in the company's history;
• Worldwide launch of the award-winning Celltop, a mobile client framework that enables the delivery of next-generation content, commerce and communication services.  

Gartner forecasts the global market for outsourcing will exceed $1 trillion in 2012¹.  "The global market for Telecom Operations and Management Systems alone will grow steadily, from $74.6 billion in 2008 to $96.8 billion in 2012,"² stated Kamlesh Bhatia, Principle Research Analyst, Gartner, Inc.  "We expect to see vendors begin to take a more vertical approach to address this multi-billion dollar market. Customers too are increasingly considering domain expertise and innovation in their buying criteria along with traditional implementation cost considerations".

 

Sourced From: Text 100 Public Relations Consultancy