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Intel Capital and IFC Invest US$ 7.8 Million in Altobridge Growth

  Intel Capital and IFC Invest US$ 7.8 Million in Altobridge Growth

Mobile World Congress 2013

Business Wire

BARCELONA, Spain -- February 25, 2013

Altobridge (www.altobridge.com), specialists in technology that cuts the cost
of delivering mobile voice and data across wireless networks, has today
announced that Intel Capital and IFC (International Finance Corporation) has
made a follow-on investment of US$ 7.8 million in the company.

This new investment will provide Altobridge with additional capital to
accelerate the pace of roll-out of its mobile data optimisation solution,
Data-at-the-Edge™, in both urban and rural markets globally.

Data-at-the-Edge™ (DatE™) optimises data delivery for mobile network
operators. It is a self-learning, content pre-positioning platform that
enables network operators to drive down their data transmission costs while,
at the same time, dramatically improving their end-users’ Quality of
Experience. The broad spectrum of its functionality includes HTTP
acceleration, in-line data and header compression, user data caching at the
cell site, data traffic management and least-cost routing.

Since its Series C funding round in 2011, Altobridge has taken DatE™ from
concept to full commercialisation, exemplified in the company’s recent
announcement of a significant DatE™ enabled, 3G mobile broadband rollout with
Maxis Berhad, Malaysia’s largest integrated communications service provider.
Meanwhile, commercial trials for urban DatE™ deployment are pending with
leading network operators in Europe and North Africa.

“Since our last funding round, we have expanded rural connectivity in
Indonesia, Malaysia, Iraq, Niger and Ghana, whilst at the same time we have
made Data-at-the-Edge™ a commercial reality. With some industry analysts
forecasting a 13-fold increase in global mobile data traffic by 2017, wireless
network infrastructures face a major challenge to keep pace with this level of
demand. Managing, optimising and caching mobile data at the point closest to
consumers’ mobile devices is the key to alleviating backhaul pressure. DatE™
does precisely this, and the way in which we implement it makes it the first
commercially deployed solution of its kind,” said Mike Fitzgerald, Chief
Executive, Altobridge.

“This growth investment will help fund our cashflow requirements through our
continuing growth and it is further testament to the ongoing financial and
strategic support provided to us by IFC and our lead investor, Intel,” he
added.

About Altobridge

Since 2002, Altobridge has developed wireless network solutions that reduce
network operating costs in the delivering of mobile voice, mobile broadband
and big data services.

Central to this lie a series of patented and patent-pending technologies
namely; Data-at-the-Edge™ (intelligent mobile broadband data optimization and
delivery across wireless networks), Local Connectivity™ (local voice
switching) and Split Architecture™ (transmission and power optimization), all
of which, drive down communications delivery costs for mobile network
operators by reducing backhaul and power consumption costs. Altobridge is
headquartered in Ireland and has further bases in the USA, China and Malaysia,
covering sales, R&D, customer support and manufacturing.

Altobridge solutions are deployed and operational in over 30 countries
worldwide.

Altobridge is a privately held company. Shareholders include its employees,
Intel Capital, IFC and Enterprise Ireland.

About Intel Capital

Intel Capital, Intel’s global investment and M&A organization, makes equity
investments in innovative technology start-ups and companies worldwide. Intel
Capital is stage agnostic and invests in a broad range of companies offering
hardware, software and services targeting enterprise, digital media, mobility,
consumer Internet, semiconductor manufacturing, and cleantech. As of November
30, 2012, the Intel Capital investment portfolio is valued at approximately
US$1.5 billion.

About IFC

IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services to
businesses and governments. In FY12, our investments reached an all-time high
of more than $20 billion, leveraging the power of the private sector to create
jobs, spark innovation, and tackle the world’s most pressing development
challenges. For more information, visit www.ifc.org.

Visit Altobridge at Stand G11, Hall 7, Mobile World Congress 2013.

-Ends-

Contact:

Altobridge
Peter Tuomey, VP Marketing
Tel: +44 7765 665 045
Email: ptuomey@altobridge.com
 
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