Boy, the folks south of the border sure like our tech companies. This time around it's Burnaby, B.C.-based Convedia Inc., which has been acquired by RadiSys Corp. for US$105-million. It's a sweet return for Convedia's investors, which includes Ventures West, Mayfield Ventures and Terry Matthews' Wesley Clover. Convedia makes media servers for telecom carriers and enterprise customers that want to offer VoIP and IMS services. Convedia, which had has won a ton of industry awards recently, was on a revenue run-rate of $20-million based on its second-quarter results. The RadiSys press release can be found here.
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Mark Evansthe blog - examines the world of telecom and technology from a distinctly Canadian perspective.the person - lives in Toronto, CA with his wife and three children, and works as director of community with PlanetEye Inc. 
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Convedia Snapped Up for $105M
by
Mark Evans
on Thu 27 Jul 2006 10:01 PM EDT | Permanent Link
Boy, the folks south of the border sure like our tech companies. This time around it's Burnaby, B.C.-based Convedia Inc., which has been acquired by RadiSys Corp. for US$105-million. It's a sweet return for Convedia's investors, which includes Ventures West, Mayfield Ventures and Terry Matthews' Wesley Clover. Convedia makes media servers for telecom carriers and enterprise customers that want to offer VoIP and IMS services. Convedia, which had has won a ton of industry awards recently, was on a revenue run-rate of $20-million based on its second-quarter results. The RadiSys press release can be found here.
Comments
Re: Convedia Snapped Up for $105M
by
blogger_brent
on Fri 28 Jul 2006 12:38 AM EDT | Profile | Permanent Link
It's a long run for Peter Briscoe and some of the staff though. It was called Starvision when it was founded circa 1996. It was a medical networking play in its initial form. A major recap happened (when VW and Mayfield eneterd in 2000) and many previous investors were wiped out. They really caught the second VoIP wave nicely and Peter deserves a lot of the credit. They raised nearly $25M US in their re-birth so the investors likely did a triple or slightly better. A good deal for a networking hardware company in these tough times.
Re: Convedia Snapped Up for $105M
by
Ross
on Fri 28 Jul 2006 01:14 AM EDT | Profile | Permanent Link
Congratulations to the team. It's good to see a tech company get recognized in this way, and their founders and investors rewarded for their efforts.
I must ask though; how does this work for RadiSys? I read the press release, but these guys are embedded system suppliers, providing components to the likes of Nortel, Nokia, IBM and others. Doesn't this acquistion compete with products sold by their customers? Trackbacks
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