NextPoint Forms With $20 Million

NextPoint Networks Inc. has been formed via the merger of NexTone Communications and Reef Point Systems, to deliver global fixed-mobile convergence border platforms and secure interconnectivity solutions. The merger is being sponsored by $20 million in new VC funding. One Equity Partners led the round, and was joined by Core Capital Partners, American Capital Strategies, Jerusalem Venture Partners, Safeguard Scientifics and Summerhill Venture Partners. NexTone had previously raised $65 million, while Reed Point had raised over $160 million.

 

PRESS RELEASE
In a move that creates the world's first fully integrated fixed-mobile connectivity platform, NexTone Communications, Inc., the leading software-centric session border controller and session management provider and Reef Point Systems, Inc., the leading mobile access universal convergence gateway provider, today announced they will merge to form NextPoint Networks, Inc.. The combined company will bring mobile and fixed-network operators around the world the ability to quickly, securely and profitably deliver voice, data and video services over all-IP networks.

 

The new company's growth will be supported by a $20 million round of funding led by One Equity Partners, the private equity arm of JP Morgan Chase (NYSE: JPM), and joined by American Capital (Nasdaq: ACAS), Core Capital Partners, Jerusalem Venture Partners, Safeguard Scientifics (NYSE: SFE), and Summerhill Venture Partners. “As the first company in the world to offer a complete range of intelligent, secure and high-scale fixed and mobile IP connectivity solutions, NextPoint