RESTON, VA and DUBLIN, IRELAND, January 14, 2002 - Openet Telecom, the world leader in mediation software, today announced it has received 2001 Product of the Year awards from Internet Telephony® Magazine and Communications Solutions™ Magazine, both part of the TMC publishing company. Openet was honored for its FusionWorks™ convergent mediation platform, an open standards-based, distributed software solution that allows service providers to simultaneously collect comprehensive usage data from value-added services, across diverse wire-line, wireless and IP-based packet-switched networks.
The Internet Telephony and Communications Solutions Product of the Year awards were designed to honor innovative products and services that have made a positive impact on the convergence of voice and data. The magazines are featuring the winners in their January issues.
A fully-scalable convergent mediation platform that is hardware and software independent, FusionWorks™ unifies customer usage patterns from legacy network infrastructures, IP networks and all generations of mobile networks, including WAP, GPRS, CDMA, TDMA, EDGE and UMTS. In Openet's first major contract in the U.S. marketplace, a major Tier-1 wireless carrier began deploying FusionWorks™ in summer 2001 as the foundation for its BSS, including billing, customer care, data warehousing and fraud management. FusionWorks™ was recently enhanced with self-management capabilities, enabling service providers to manage and make changes to the system without requiring technical assistance.
"FusionWorks™ is a clear leader in the billing/mediation sector of the IP telephony industry, and we're proud to recognize Openet Telecom's hard work and innovation with a Product of the Year award for 2001," said TMC president and group publisher Rich Tehrani. "The Product of the Year award is meant not only to honor the outstanding teams who developed and manufactured the products and services on our winning list, but also to educate our readers on the vast array of offerings in this market. Choosing the winners was a difficult process, and the editorial team spent many hours studying the applications we received from vendors, as well as looking through materials we collected on our own over the past year."
In garnering two 2001 Product of the Year awards, Openet caps off an award-winning year which also saw the company named Best New Company at Billing World 2001 and Best Young Company 2001 by the Irish Software Association. In addition, the company closed on a $20 million investment from Benchmark Capital in November.
"It's a honor to be formally recognized by such industry leaders as Internet Telephony and Communications Solutions," said Barry Murphy, CEO, Openet Telecom. "It also validates our philosophy and dedication to provide telecommunications companies with a truly convergent mediation solution that enables the management and billing of sophisticated services according to type of usage rather than solely on time and distance, a process that is increasingly relevant as voice and data services converge.
Openet is a leading worldwide provider of event processing and transaction management solutions. The Transactional Intelligence of the company's solutions extracts increased value from diverse service provider networks, enabling rapid introduction of new services and reliable, cost-effective management of existing services. Openet is focused on delivering best-in-class network edge solutions and specialized engagement processes that create business value from network activity. A global company, Openet's implementations include long-running engagements with the world's leading service providers such as British Telecom, Orange, AT&T and Verizon Wireless. For more information, visit www.openet.com