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02/02/2006

Advent International Leads a $25 Million investment in AIRWIDE SOLUTIONS in Round D Financing

Airwide Solutions, an international leader in providing mobile infrastructure software announced it has secured $25 million in Series D funding. The software the company developed is aimed at enabling, enhancing and ensuring mobile communications for wireless operators. The financing was led by a new investor, Advent International, with participation from existing investors Artiman Ventures, Axiom Venture Partners, Key Venture Partners, and Kodiak Venture Partners. Airwide is planning to use this investment to fund its continuing expansion and growth, to pursue strategic opportunities, and to support new product developments.

"Airwide Solutions has the characteristics we look for in an investment - a rich history of supporting complex networks for a global customer base that includes the leading companies in its market, a history of setting milestones in an emerging segment, and innovative technology that is at the forefront of an emerging market," said Advent International Partner Michael Pehl.

Airwide Solutions has more than 70 customers in 46 countries, many of them - top mobile operators. This investment emphasizes the fact that Airwide Solutions is a leading provider of mobile infrastructure software. Airwide leads a new mobile security market, with more than 200 million mobile phones around the world that are secured through Airwide's fraud prevention products. Additionally, Airwide infrastructure software allows device management solutions, which are becoming critical for operators needing to preserve a high quality of service and at the same time deal with different hardware that keeps changing.

Airwide Solutions has a long tradition of improvement; it sent the first commercial SMS (short message service) in 1992 and setting up the first A2P (application-to-person) MMS push gateway in 2004.

Airwide plans to use this investment of $25 Million as part of its general strategy for growth. In addition to continued development of its main projects of messaging, mobile security, and device management products, Airwide will continue to expand into emerging geographical areas, and pursue strategic expansion opportunities.

"Airwide looks forward to applying this latest round of funding to the exciting mobile communications opportunities we see in 2006 and beyond," said Airwide CEO Kevin A. Wood. "We believe the products and partnerships planned for this year will break new ground for carriers and their subscribers, and that this latest round of funding from both new and existing investors is further confirmation of the market opportunities and the business vision which will drive Airwide's success."