TORONTO AND MONTREAL, Jan. 31 /PRNewswire-FirstCall/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a $3 million venture debt financing for Vantrix Corporation of Montreal, Canada. Vantrix is the global leader of mobile video optimization and delivery solutions, with deployments in over 70 networks, serving over 1 billion subscribers worldwide.
"Vantrix has built the world's leading carrier-class solution for optimizing network bandwidth," said Mark McQueen, President & CEO of Wellington Financial LP. "Their international carrier clients save up to 70% on network capex and opex by dynamically monitoring and optimizing video over their networks. No matter how advanced the content, network or device, carriers and their customers alike rely on Vantrix's software to provide the best possible user experience."
"Partnering with Wellington Financial allows us to capitalize on the strategic global initiatives we have under way," said Vantrix Corporation President & CEO, Allan Benchetrit. "We are pleased to have a premier North American debt firm supporting our new market opportunities."
Gowling Lafleur Henderson LLP, Cooley LLP, Delegatus services juridiques, and Choate LLP provided legal advice on this transaction.
Since 2004, Wellington Financial LP has led or participated in more than $340 million in transactions, making it one of the most active funds of its kind in North America.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing revolving lines of credit, term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $450 million investment program via Wellington Financial Fund III, with offices in Toronto, Canada and Santa Monica, California. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund III. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
Vantrix, the global leader of mobile video optimization and delivery solutions, improves mobile and converged video economics for its customers by ensuring that content is delivered cost effectively, and with the best possible user experience, regardless of the service, device or network. Vantrix solutions are deployed in over 70 networks, serving over 1 billion subscribers worldwide. Vantrix is proud to count among its customers: Sprint (NYSE:S), Orange, Telefonica (NYSE:TEF), T-Mobile, TeliaSonera (OMX:TLSN), MTS, Etisalat (ADX:ETISALAT), Saudi Telecom Company (TADAWUL:STC), and Tata Telecom. Vantrix is headquartered in Montreal with offices in London, Hong Kong, and Dubai. To learn more about Vantrix, visit www.vantrix.com.
SOURCE Wellington Financial LP