OpenVault Announces Investment from Advanced Technologies and Services, Inc.
Dec 06, 2010, 10:28 ET
WAYNE, N.J., Dec. 6, 2010 /PRNewswire/ -- OpenVault LLC ("OpenVault") today announced that Advanced Technologies and Services, Inc. ("ATS"), has invested in the company as OpenVault launches a suite of solutions targeting the Global Communications Service Provider marketplace. The funding will be used for working capital and will be integral in helping OpenVault embark on an aggressive growth strategy.
OpenVault provides solutions that help broadband providers manage bandwidth utilization and optimize the network's revenue potential via a unique Software as a Service (SaaS) offering. Network providers can purchase applications on a "pay as you go" basis, thereby reducing capital outlay and enjoying a positive return on investment immediately. Through a combination of proprietary algorithms which analyze the data generated in the network, an online toolset to access key information and a policy control server to drive real-time, in session decisions, OpenVault's solutions drastically improve the visibility into how the network is being used and provide the operator with a mechanism for driving additional revenue.
With OpenVault's solutions operators can: Implement bandwidth-on-demand business models; Perform active traffic/network management; Enable tiered or metered billing models and can easily partner with content providers to ensure a quality user experience.
Mark Trudeau, President and Chief Executive Officer of OpenVault, said, "We are delighted that a well-respected company such as ATS with a long history of delivering solutions to the telecom marketplace will be investors in OpenVault. ATS has extensive experience helping communications service providers extract value from the data that resides within their networks. They understand the kind of value OpenVault will bring with our solutions and have made the commitment to get behind us. It's a strong validation of our business model and the solution set we provide."
Randall Guthrie, President & CEO of ATS, stated, "ATS is pleased to make this strategic investment in OpenVault. We have every confidence that OpenVault's solutions will be well-received in the market. Their technology provides a clear return on investment for operators. They have solutions that are easy to deploy, easy to use and easy to buy. OpenVault's management team has tremendous experience in building and growing technology companies in the communications space and we are thrilled to be a part of it. Business and data analytics are at the core of ATS' business and we look at our relationship with Open Vault as synergistic. We are confident that ATS and OpenVault will help each other better serve our respective clients."
In addition to the initial investment, the companies are exploring additional partnership opportunities designed to leverage the collective strengths the companies bring, possibly including technology, resources and infrastructure.
Advanced Technologies & Services, Inc. (ATS) is the world leader for telecommunications network integrity, switch automation and revenue assurance. ATS offers a wide range of telecommunication solutions through web based software applications and consulting services. ATS, incorporated in 1995, is headquartered in Wayne, New Jersey with regional offices in California and Massachusetts.
About OpenVault LLC
OpenVault provides Communications Service Providers (CSPs) with key technologies and business expertise to evolve revenue streams and optimize operations. Our solutions are delivered with both a Software as a Service (SaaS) model and a traditional license and service model, leveraging private cloud computing to provide a scalable computing infrastructure.
SOURCE OpenVault LLC
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