Sidonis Secures Investment for Next Generation Network Management Software
Sidonis, the emerging new leader in service assurance, today announced that it has secured private equity funding that will herald a new phase in the company’s growth.Founded in 2006, Sidonis develops advanced software that helps companies in the telecoms and broadcast, finance and utilities industries manage their increasingly complex networks and services.
At the same time, Gregor Logan joins the Sidonis Board as a Non-Executive Director. Mr Logan has over 30 years’ experience in the fund management industry, working as a UK and European stock picker at Fidelity for 13 years, then as Chief Investment Officer at MGM Assurance and New Star Asset Management.
Sidonis CEO, Don Keir, commented: “Sidonis aims to become a recognised market leader in the technology required to manage complex communications networks and services. This investment will help us accelerate our plans to achieve that, and we welcome the additional experience and insight that Gregor will bring to Sidonis.”
In October 2009, Sidonis was one of a handful of emerging technology companies specially selected to present to an audience of venture capitalists and investors in London. Organised by the SETsquared Partnership (an enterprise partnership between the universities of Bath, Bristol, Southampton and Surrey), the annual Investment Showcase event aims to help early stage companies attract investment. In the last five years, The Partnership has supported more than 200 high tech companies, helped raise more than £150m in capital and created 1000 new jobs.
Sidonis has also just been awarded a research grant by the UK’s South West Regional Development Agency, to help explore potential extensions of its advanced software to support other markets. Sidonis CTO, Martin Hobbs, commented: “It is rare for a software developer to be awarded this research grant, and we believe this reinforces the clear potential of our technology to supporting multiple industries.”
