Intel buys Aepona from Amadeus et al.

Amy King
26 April 2013

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Aepona, a cloud-based telecom network solutions company backed by several venture investors, has been sold to Intel.

The deal value for Aepona is reported to stand at around £80m. Amadeus Capital Partners is the largest VC investor in the company.

The acquisition was designed to accelerate Intel's mobile strategy.

Previous funding
In 2003, Amadeus co-led an €11.5m funding round for the firm alongside Trinity Venture Capital. Invest Northern Ireland and the firm's founders and management also participated in the round.

In 2005, both lead investors were joined by Polaris Private Equity in a €15m round. The trio committed a further $10m in 2007. In 2010, Amadeus and Polaris were joined by Blackberry Partners Fund, Innovacom, Nordic Venture Partners and Sutter Hill Ventures, making a $10m capital injection in Aepona. Sap Ventures joined the funding round in July, bringing it to completion.

Company
Founded in 1999, Aepona is a cloud-based network solutions company based in Belfast. The company focuses on application enablement, allowing for the convergence of mobile and fixed networks, web services, enterprise applications and cloud computing.

Aepona has grown organically and through acquisitions. In 2007, the firm bought Swedish application server vendor Appium. Two years later, Aepona bolted on an Irish payments and settlements solutions firm.

The company has more than 300 staff at offices in Belfast, Bristol, Wicklow, Denver, California and Sri Lanka. It reported revenues of £25.7m in 2011, up 16% on 2010 results. Operating profit that year stood at around £790,000.

People
Andrea Traversone is a partner at Amadeus.