CommProve secures additional financing to fund organic and non-organic growth

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October 19, 2010
CommProve secures additional financing to fund organic and non-organic growth

Election of new board member to bring additional expertise

Dublin, October 19, 2010 – CommProve the top innovation provider of network monitoring and business solutions for mobile networks, announced today that they have completed the latest funding round of $4.0 million from existing investors TLcom Capital, TVM Capital and Endeavour Vision.

Christopher Cobbold, Partner at TVM and member of CommProve’s Board of Directors states:” CommProve’s unique end-to-end real time network monitoring solution is gaining real interest and traction with several major operator groups worldwide. Further funding will allow CommProve to put the infrastructure in place to capitalize on those customer activities, and at the same time ensure we serve our customers properly in all regions".

“With the additional financing and a strengthening of the management team, CommProve has reached a position where both organic and non-organic growth will be considered” adds Dominique Pitteloud, Investment Director at Endeavour Vision and member of CommProve’s Board of Directors.

CommProve is very pleased to welcome Margaret Rice-Jones as new board member of CommProve. Margaret has over 25 years experience in complex, high technology businesses operating at a global level. Previously Margaret was CEO of Aircom International a private equity backed business, supplying OSS software and network roll out and management services.

“The addition of Margaret to CommProves’s Board of Directors ensures that the company will continue to benefit from a diversity of experiences and opinions”, states Jean-Claude Martinez, Chairman of the board. ”Her significant experience in managing both large enterprises and growth companies, especially those supplying complex solutions and services to business customers, mergers and acquisitions, international/channel expansion and development of leadership teams will make her a great asset to CommProve.”

About CommProve
CommProve is a top innovation provider of network monitoring and business solutions for wireless operators. Our solutions enable mobile operators and system integrators a full view on customers, services and network issues. CommProve Complete™ is based on three high performance platforms: NetLedge, QuantiQa and IntelliQa. On top of these platforms the CommProve Insight Solutions provide mobile operators a sophisticated end to end insight into mobile broadband, subscribers, devices, roamers and end to end network. CommProve has deployed extensive monitoring systems in countries on all continents.

Since its foundation in 1996, CommProve has been a privately held company with headquarters in Ireland and offices in the UK, Italy, Brazil and the USA.

For additional information please visit www.commprove.com

CommProve Contact Information
Kathrin Fessler
Marketing Communications Manager
Phone: +39 335 875 3798
E-Mail: kathrin.fessler@commprove.com or info@commprove.com

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