Monday, January 28, 2008

NewStep Raises $9.5 M for FMC, Appoints CEO

NewStep Networks, a spin-out from Bell Canada based in Toronto, closed a Series C round of $9.5 million from existing investors for its session management convergence solutions for carriers and enterprises.

NewStep's technology operates at the signaling layer, facilitating standards-based integration with legacy TDM/SS7 networks, IP/SIP networks and enterprise communication software and IP PBX implementations. The solution enables carriers to establish and retain control of calls across IP and TDM, wireless and wireline, service provider and enterprise networks. NewStep's platforms enable subscribers to have a single number, single voicemail, simultaneous ringing across multiple phones, and other features like corporate extension dialing, from existing mobile phones.

NewStep said widespread FMC adoption is being driven by business and consumers requiring a more personalized and mobile communications experience. Its technology permits this experience to be delivered through seamlessly managing the user's session independent from the underlying network.

NewStep also announced that Peter N. Vicars has joined the company as president and CEO. Vicars most recently served as president and CEO of Chantry Networks, a company in the WLAN space, which he subsequently sold to Siemens AG. Prior to Chantry, he held CEO positions with Cayman Systems (acquired by Netopia); Teloquent Communications (acquired by Syntellect); and Tekelec, where he directed all corporate activities .


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