U.S. private equity firm Bridge Growth Partners has made a majority equity investment in Accedian, a Canadian provider of network performance monitoring and assurance solutions. No financial terms were released; however, the Financial Post reported Bridge Growth invested more than US$100 million to support Accedian’s global growth. With the deal, Bridge Growth’s Tom Manley will chair the board, while Alok Singh and Bill Teuber will become directors. Founded in 2005 by CEO Patrick Ostiguy, Montréal’s Accedian has previously raised funding from Rho Canada Ventures, Skypoint Capital, Summit Partners and other investors.
Bridge Growth Partners Makes Majority Equity Investment in Accedian
Investment in Leading Provider of Performance-Assurance Solutions Underscores Growing Demand for Real-Time Network Performance Visibility
March 30, 2017
NEW YORK & MONTREAL–(BUSINESS WIRE)–Bridge Growth Partners, LLC, a sector-focused, growth-oriented private equity firm, today announced it has made a majority equity investment in Accedian, a leading provider of highly accurate network performance monitoring and assurance solutions. This investment is aimed at accelerating the growth of Accedian on a global basis.
Accedian’s software and technology are used by the world’s largest mobile, enterprise, and carrier networks to monitor, test and ultimately ensure real-time quality of service (QoS) and quality of experience (QoE) for operators. Accedian’s strong historical growth has been driven by rigorous global operator focus on QoE as the foundation of competitive differentiation. Based in Montreal, Quebec, Canada, Accedian employs over 250 staff worldwide and serves more than 300 customers in over 60 countries, including SK Telecom, Telefonica, T-Mobile, Cox Business, Softbank, América Móvil, Reliance Jio and COLT.
“From our first interactions with the team at Accedian, we were excited about the opportunities available to this innovative company,” said Tom Manley, Senior Principal of Bridge Growth Partners. “Accedian has won seven major awards in the past year for their new SkyLIGHT software solution, the industry’s first fully virtualized performance assurance solution for advanced real-time monitoring across large 4G / 5G and enterprise-to-data center connectivity networks. These awards are a testament to Accedian’s technology in helping telecom operators worldwide deliver a superior quality of experience for its customers.”
“My team and I are thrilled to work with Bridge Growth Partners as we continue to capitalize on significant growth opportunities and build on our reputation as a distinguished leader in network performance assurance,” said Patrick Ostiguy, Founder and CEO of Accedian. “We take great pride in our ability to offer differentiated network performance optimization solutions for our customers. The Bridge Growth team understands the strong market trends that are propelling our growth. We are confident that this investment coupled with Bridge Growth’s resources and experience building technology businesses will help accelerate Accedian’s global expansion enabling us to deliver an even higher level of service to our customers worldwide.”
Alok Singh, Managing Principal of Bridge Growth Partners, added, “Accedian is well-positioned to benefit from favorable market trends that are driving demand within the performance monitoring sector. The seismic move to the cloud and the imperative of mobility are rapidly increasing demand for the kind of scalable, real-time network monitoring and optimization platform that Accedian is uniquely able to deliver. We are excited to work closely with Patrick and his exceptional team to build upon their existing success through the pursuit of new partnerships and further investment in its innovative technology.”
Tom Manley will serve as chairman of the Accedian board, and Alok Singh, Bridge Growth Partners Senior Operating Principal Bill Teuber, CEO Patrick Ostiguy, telecom veteran George Cooney, and former Juniper executive Eddie Minshull will also serve as directors.
Accedian delivers exceptional endtoend network performance visibility, for control over the best possible user experience. Providing the most complete, current view of network health, Accedian dramatically improves visibility with actionable insights for peak reliability and quality of service (QoS). Accedian enables control over increasingly complex networks to increase agility, and reduce cost. Most importantly, through a fully optimized and performance assured network, Accedian proactively ensures maximum uptime and for peak quality of experience (QoE). Since 2005, Accedian has assured hundreds of thousands of networks and services globally, turning performance into a key competitive differentiator. For more information, visit Accedian.com.
About Bridge Growth Partners
Bridge Growth Partners, LLC is a uniquely structured growth-oriented private equity firm that focuses on investments in the technology and technology-enabled financial services sectors. Bridge Growth Partners was founded with the goal of bringing together significant investment, financial, operating, and strategic business building expertise and talent.
For more information about Bridge Growth Partners, please visit www.bridgegrowthpartners.com.
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Matt Benson/Nikki Ritchie
Photo courtesy of Accedian Networks