NewStep Networks Inc., the market and technology leader in session
management convergence solutions for carriers and enterprises,
announced today that Peter N. Vicars has joined the company as
president and CEO.
Over the past year, service providers have begun to deploy NewStep
Network´s solutions to deliver managed and hosted fixed mobile
convergence solutions to enterprises and consumers across the US and
UK. The company has also announced a wide range of interoperability
partners including leading handset and PBX vendors.
"The market for FMC has begun to accelerate and NewStep is
transitioning from supplying the early adopters such as BT and Embarq
to a broader set of service providers and enterprises worldwide,"
explained Peter Carrescia, General Partner at VenGrowth Private Equity
Partners. "Peter Vicars is the right person, at the right time, to
take the helm at NewStep at this key stage in the company´s growth.
With a strong background in telecommunications and experience growing
companies of this size, we believe that he brings the right focus and
expertise to continue and extend NewStep´s market leadership."
"I am excited, NewStep has done a phenomenal job in transitioning
early adopters into customers and I look forward to leading this team
into the mainstream," said Peter N. Vicars, NewStep Networks CEO. "We
have the number one technology, team and partners to successfully
capture additional market share and create sustainable value for our
customers, partners and investors."
NewStep also announced that it has closed a Series C round of $9.5
million from its existing investors.
Widespread FMC adoption is being driven by business and consumers
requiring a more personalized and mobile communications experience.
NewStep´s unique technology permits this experience to be delivered
through seamlessly managing the user´s session independent from the
underlying network. NewStep Networks was recently named by Network
World as one of "10 Tech Start Ups that Should Matter."
"NewStep´s solution has found broad base support with service
providers and is in active customer evaluation and trials in Europe,
North America and Asia," stated Jim Glover, Investment Director at BDC
Capital. "This investment will enable the company to work with
customers and partners to translate these trials into market
deployments in 2008."
About Peter N. Vicars
Peter N. Vicars has extensive experience in transitioning
companies from start-up mode to market leadership. Vicars most
recently served as president and CEO of Chantry Networks, a company in
the competitive Wireless LAN (WLAN) space, which he subsequently sold
to Siemens AG. Prior to Chantry, he held CEO positions with Cayman
Systems (acquired by Netopia: OTC:MTPA.PK) where he lead the company
from a fringe player to a leading name in the broadband access market;
Teloquent Communications (acquired by Syntellect; TSX:ESL) and Tekelec
(NASDAQ:TKLC). At Tekelec Vicars directed all corporate activities of
this publicly traded company, including oversight of subsidiaries in
Japan, Australia, Canada and the United Kingdom.
About NewStep Networks
NewStep Networks is an award-winning provider of seamless session
management solutions based on its patented CSN platform. NewStep
solutions enable enterprises and consumers to have an "any device, any
place, any content" communications experience by facilitating the
movement of information across all access technologies. Currently
deployed and handling millions of calls per day, NewStep Networks´
platform offers a rich set of features that works with today´s
technology and devices, as well as those being developed for tomorrow.
For more information, visit www.newstep.com.
Note to Editors: NewStep Networks, etc., are trademarks of NewStep
Networks. All other trademarks are the property of their respective
owners.
