Mobile Cohesion gains $4.8m [Mobile Cohesion]

(Total Telecom Via Thomson Dialog NewsEdge) Enterprise Equity Leads Round with Cross Atlantic Capital Partners, Accel Partners, and Clarendon Fund Managers

Belfast UK, September 25th 2006 Mobile Cohesion, the UK based telecommunications software firm, has announced that it has closed its second major funding round of $4.8m one of the largest venture investments this year for any Northern Ireland based technology firm.

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According to Per Lindblad, Mobile Cohesions CEO, this is further endorsement of the companys market defining position in partner relationship management solutions for mobile operators worldwide.

Our customers, some of the best known brand leaders in mobile telephony, have endorsed the concept of partner and performance focused partner relationship management based on our HYDRA product.

With this funding round we can now further develop our presence in a vast market one in which we have massive competitive advantage. We are very proud that our achievements have been recognised by our existing backers Cross Atlantic Partners and Accel Partners. But now Belfast-based Enterprise Equity (NI), Northern Irelands longest established VC firm, has led our latest funding round supported by existing investors as well as Viridian Growth Fund - a Northern Ireland based fund managed by Clarendon Fund Managers.

The funds will be used to leverage our existing customer relationships in other geographies and to attract new customers who are wrestling with partner management challenges. In addition, well be developing our customer operations organisation and further enhancing our product offerings through more R&D.

According to Brian Cummings of Enterprise Equity, We were very impressed with the energy and talent exhibited by the Mobile Cohesion team and its track record of building successful telecommunication software companies. We believe that HYDRA offers a compelling proposition to operators that want to exploit the real business opportunity of mobile content, applications and data services. The challenge for the company is to build on its installed customer base and to further spread the word about the huge revenue and profit opportunities represented by HYDRA.

Copyright 2006 Terrapinn Ltd