Quiconnect

September 15, 2004

Quiconnect secures venture funding for international growth

Quiconnect Ltd, a leading global IP roaming services company, today announced that it has successfully secured additional equity capital funding from Pall Mall Partners Limited’s venture capital group.

Quiconnect will use the additional funds to rapidly expand its European and US business operations, and to expand into Asia. The company provides technical and financial clearinghouse services and technology for mobile broadband roaming, enabling low cost, customer transparent roaming services for wired and wireless Internet Service Providers (ISPs) and Telecommunications Operators offering mobile and wireless broadband Internet connectivity.

In the rapidly expanding landscape of wireless broadband service provision, Quiconnect is one of the few organisations to offer neutral-host technical and financial transaction clearing for mobile broadband roaming. Quiconnect’s model appeals to both ISPs and Telecoms because the Quiconnect system enables significant cost savings and expedited market expansion on a worldwide scale, while enabling each operator to retain all of the control of a bilateral agreement. Moreover, Quiconnect’s proprietary Secure Closed-Loop (SCL) roaming technology gives wireless broadband service providers the competitive edge needed in the IP data market to reduce customer churn and grow their average revenue per user (ARPU), while simultaneously securing a migration path to voice over wireless IP (VoWIP).

Quiconnect has already realised significant commercial traction, securing contractual agreements with operators across Europe, North America, Africa, and South-East Asia. Quiconnect was the first to deploy roaming services in Greece before the start of the 2004 Olympic Games via an agreement with OTEnet – the largest wireless broadband operator in Greece. Quiconnect’s global reach is further supported by its founding membership in the Airpassenger Broadband Council, which counts among its members three of the world’s largest airlines (each executing wireless broadband services worldwide) and its support of wireless broadband interoperability standards among airport operators, with the support of the worldwide Airports Council International.

Quiconnect has an unusually strong management team, headed by Troy Simoni (ex Hewlett-Packard), as CEO and Jack Boyer as Chairman (ex Bain & Co., Goldman Sachs and CEO of Trident Components Group). The executive team also includes Lawrence Baltz (ex Sun Microsystems and Motorola), Andrew Schultz (ex Ernst&Young, and Motorola), Jean-Yves Billon (ex Hewlett-Packard and Alsthom), and Dina Brewer (ex LibertySurf and Morgan Stanley).

Troy Simoni, Quiconnect’s CEO commented, "The world keeps getting smaller and IP convergence is today’s chief accelerant. Voice over IP is the next revolution, and Quiconnect is going to be playing a major role in worldwide IP convergence. We are most pleased to be working with Pall Mall Partners, who share a common vision and insight into the next wave of economically disruptive technology."

Mark Rayner, Pall Mall Partners, Director Venture Capital, remarked; "We are delighted to have invested in Quiconnect, the company is a very strategic investment for us as a group. We are seeing dramatic changes in the way the world communicates and Pall Mall Partners believe that Quiconnect are addressing a real global market need with their range of intelligently crafted products."

About Pall Mall Partners

Pall Mall Partners Limited is a focused fund management company specialising in European high yield bond and venture capital funds. PALLMALL HighYield is a leading European high yield bond fund manager. PALLMALL Technology Ventures provides capital and crucial business-building resources to early-stage technology companies in the UK and Europe.

www.pallmallpartners.com

About Quiconnect

Quiconnect is a specialist provider of systems integration and interconnectivity management solutions for telecommunications carriers in the wireless broadband sector.  Through its carrier-grade interconnection management platform, Quiconnect connects discrete commercial IP networks worldwide to create multiple custom-tailored virtual networks, uniquely configured and branded for individual carriers.  It provides unique technologies to simplify and securely automate user connections to these virtual networks, provides monitoring and support tools, manages accounting records, and provides financial settlement services in partnership with established clearing houses.

Quiconnect provides custom tools, technology and services to manage interconnections for multiple bilateral roaming and access agreements – ensuring end-to-end integrity, reducing costs, and enabling a consistent carrier-branded user interface across multiple networks, platforms and applications.

Headquartered in London UK, Quiconnect was founded in 2001 and operates offices in Grenoble, France and San Diego USA.  For more information, visit www.quiconnect.com.

For media enquiries for Quiconnect, please contact:

Tom Herbst
KDL
+44 7768 145571
tom@tomherbstpr.co.uk