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NextNine Closes Financing Round Led by Motorola Ventures

27 September, 2006

 

Co-Investment from Ascend Technology Ventures, Infinity Venture Capital Fund and Ofer Hi-Tech

 

New York, NY & Tel Aviv Israel, – NextNine, a leading global provider of innovative support automation solutions, and Motorola Ventures, the global, strategic venture capital investment arm of Motorola, Inc. (NYSE: MOT), today announced the successful completion of a round of financing, led by Motorola Ventures. Motorola Ventures joins NextNine's current investment group, which includes Ascend Technology Ventures, Infinity Venture Capital Fund, Ofer Hi-Tech, Yozma Venture Capital Group, Morgan Stanley Dean Witter Private Equity, and Redwood Venture Partners.

 

"We are delighted to welcome Motorola as an investor in NextNine," said Adi Dulberg, CEO, NextNine. “We have worked closely with Motorola over the last couple years, and their investment exemplifies the business value of our technology and strategy. These additional resources will be channeled into Business Development and R&D efforts to meet the market’s strong demand for our support automation technology solutions.

 

"The Support Automation market is a high growth market, fueled by the ever increasing demand for technology support services. IDC predicts that “To maintain margins on support services, software vendors need to continually enhance their remote and electronic support offerings to create efficiencies in their support models." Source: IDC, Worldwide and U.S. Software Deploy and Support Services 2006-2010 Forecast, June 2006.

 

"Our investment in NextNine was a relatively easy decision for us” said Matthew I. Growney, Managing Director of Motorola Ventures. “We believe that the future of technology service and support is in automation - an area in which NextNine is a clear leader.”

 

NextNine has been honored by Deloitte, Gartner and Customer Inter@ction Solutions for technological innovation and effectiveness.

 

About Motorola Ventures
Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV actively invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information: www.motorola.com/ventures .

 

About Motorola
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of Seamless Mobility, the people of Motorola are committed to helping you get and stay connected simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering "must have" products, "must do" experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $35.3 billion in 2005. For more information about our company, our people and our innovations, please visit www.motorola.com.

 

About NextNine
NextNine, founded in 1998, is the leading global technology provider of innovative support automation solutions. NextNine Service Automation automates support processes to enable proactive, automated, efficient services while maintaining low OPEX. The unique capabilities of NextNine's Virtual Support Engineer™ facilitate automation solutions including Self-Support, Assisted Support, Proactive Support, Managed Service and Partners Support. NextNine has been globally deployed by leaders such as Motorola, GE Healthcare, Allscripts, Comverse, Openwave and Airwide Solutions. For more information, visit us at www.NextNine.com.

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NextNine is a leader in Operational Technology (OT) security management software for the industrial and critical infrastructure market. Top tier companies and five of the seven largest industrial vendors have standardized on NextNine. The company has nearly 5000 installations globally in oil and gas, mining, refining, chemicals, power, energy and electricity NextNine provides support automation solutions that enable technology vendors to proactively monitor and service their products at the customer site and automate the discovery, diagnosis and resolution of problems.