MformationThe mobile device management software company

mFormation Technologies Inc. Secures Additional $13.5 Million in Financing

Battery Ventures and North Bridge Venture Partners Lead Round to Develop Wireless Infrastructure Management Opportunities

EDISON, New Jersey — July 9, 2001— mFormation Technologies Inc., an emerging provider of innovative Wireless Infrastructure Management software, today announced the close of a $13.5 million round of venture financing, bringing the total raised to $15.5 million. The new financing will enable mFormation to expand their efforts to provide large organizations and global service providers with the software they need to manage and control their wireless data devices, applications and users.

Battery Ventures and North Bridge Venture Partners co-led the recent round of capital, joining Deutsche Bank and Kingdon Capital, who, along with private investors, provided the original $2 million of seed funding in 2000. Battery Venture’s Mark Sherman sees a growing opportunity. “We see mFormation positioned at the crossroads of a few powerful trends,” said Sherman, “including the dramatic increase in the number of wireless data users and devices, the increasing number of applications being delivered wirelessly, and the need for enterprises to manage and control these devices, users, applications and networks.”

mFormation is breaking new ground providing real-time, end-to-end management across the entire wireless data environment. James A. Goldstein of North Bridge Venture Partners was intrigued by mFormation’s approach. “Wireless access to enterprise data presents unique challenges for both service providers and enterprise IT departments,” said Goldstein. “mFormation’s software is designed not only to deliver the functionality required by these customers today, but to scale up to meet their needs tomorrow.”

Kingdon Capital was one of the original investors. Kingdon’s Ken Hahn has been impressed by mFormation’s grasp of what large organizations and global service organizations need. “mFormation is the only vendor we are aware of building management software that is truly device- and network-independent,” said Hahn. “This is critical to controlling a wireless data environment that spans multiple devices and networks in different parts of the world.”

“This round of investment will enable us to more effectively address the enormous opportunity for wireless infrastructure management,” said Upal K. Basu, mFormation Co-founder and CEO. “We are expanding our R&D, marketing and sales staff with people who have deep expertise in both enterprise IT and wireless networks—people who understand the needs of our customers and who can ensure that our products meet those needs.”

About Mformation

Mformation Technologies Inc. is the leading global provider of mobile device management (MDM) technology, offering a complete solution that enables mobile operators to rapidly accelerate their data revenues and reduce support costs. Mformation's award-winning MFORMATION SERVICE MANAGER™ suite is the most complete, flexible and integrated mobile device management software solution in the industry, providing solutions for OMA DM-based provisioning and configuration, FOTA management, smartphone application management, diagnostics, security management, enterprise management and customer experience management.

MFORMATION SERVICE MANAGER™ received the 2007 GSM Association’s award for “Best Service Delivery Platform” and was a finalist for the 2008 CTIA E-Tech award in the 4G-Service Management category.  Mformation's platform has been licensed to leading operators in Asia, Europe and the US including Sprint, T-Mobile, Telefónica and Vodafone.  Mformation is headquartered in Edison, New Jersey with offices around the globe.  Mformation is a privately held company funded by Battery Ventures, Carmel Ventures, Intel Capital [NASDAQ: INTC], North Bridge Venture Partners, QuestMark Partners, Visa International and Wasatch Advisors Inc.  

Contact Mformation on the Web at www.mformation.com

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