Arlington Heights, IL February 20, 2013 – NewNet Communication Technologies, LLC, a wholly-owned Portfolio Company of Skyview Capital, and a global leader in mobility technologies with a primary focus in messaging, signaling, wireless broadband, consumer internet, multimedia content delivery, mobile advertising, and secure transactions announced today the acquisition of Interact Inc.
Interact Inc. provides high performance Interactive Voice Response (IVR) platforms and hosted IVR solutions along with real time charging and rating engine, enabling organizations worldwide to improve global communications. The acquisition of the Interact business represents a significant milestone in the evolution of NewNet’s product portfolio and market focus. The Interact products will be a key addition to the TraxcomSecure and Mobile Messaging technologies, expanding NewNet’s development initiatives.
Interact’s Nimblevox, is a Cloud Communications solution that lets you bring voice and SMS applications to market faster, with less risk, and a lower total cost of ownership, by providing advanced IVR features for outbound calling campaigns. SPOT media platform enables operators to develop cutting edge communication applications. Nimblevox and SPOT are cloud ready and can be hosted in the cloud or installed at the customer premise. Interact’s Invigorate product is a state of the art real-time convergent billing system which is engineered to meet the needs of operators in today’s ever changing and competitive environment.
NewNet’s CEO, PJ Louis, said: “Our acquisition of the Interact business will enable NewNet to provide IVR and billing solutions to service providers, enhancing our competitive position and accelerating our commercial growth.” Louis continued, “NewNet is committed to providing best in breed products and unrivaled service and support to our global customer base.”
“Interact believes that NewNet is best positioned to capture the market by merging our technologies and services.” said Lynn McKee, the previous CEO of Interact Inc.”
“We are excited that NewNet has emerged to take the business we have built to its next stage through continued investment and aggressive marketing on a global basis.” said Greg Gissler, Founder of Interact Inc.”
“The Interact acquisition signifies yet another milestone in the exponential development of NewNet, since our initial investment in 2007. In fact, through the combination of organic growth and strategic acquisitions, NewNet has grown by nearly 1,200% since Skyview took ownership of this platform. Interact’s suite of products and services combined with NewNet’s existing portfolio of messaging, signaling, and secure transaction applications will enable NewNet to offer our global customers an even broader range of communication solutions,” said Alex Soltani, Chairman and CEO of Skyview Capital.
The asset purchase agreement was signed February 15, 2013 with a targeted close of early March. Terms of the agreement were not disclosed.
About Skyview Capital, LLC
Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of “mission critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long–term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 15 transactions within its target market verticals. For further information, please visit www.skyviewcapital.com
About NewNet Communication Technologies
Headquartered in Arlington Heights, IL, NewNet is a recognized leader in mobility technologies with a primary focus in messaging, signaling, wireless broadband, consumer internet, multimedia content delivery, mobile advertising, and secure transaction processing.
NewNet Communication Technologies is a part of the Skyview Capital LLC, portfolio of companies. For further information, please visit www.newnet.com
Media Contact: Mary Lynch NewNet Communication Technologies, LLC +1-224-795-5083