PRESS RELEASE

Red Herring Reveals Companies Selected For the Red Herring North America 100 2008 Award

May 12, 2008 - Openet

San Francisco, CA – May 12, 2008— Red Herring recently announced that Openet is a finalist for the Red Herring 100 Award, a selection of the 100 most innovative private technology companies based in North America.

The Red Herring editorial board diligently surveyed the entrepreneurial scene throughout the North American region and identified the top 200 out of more than 800 closely evaluated companies that are leading the next wave of innovation.
 
“We can see the exciting evolution of the technology sector reflected in the quality and variety of exceptional companies that we had to choose from in putting our list together," said Joel Dreyfuss, editor-in-chief of Red Herring. "It was tough to choose just 200 finalists from such a large list of excellent contenders, and we are very happy with the quality of the companies we selected as finalists."
 
Openet’s event processing and transaction management solutions enable Tier 1 telecom service providers around the globe to maximize revenue from new and existing services. The Transactional Intelligence Openet aids the rapidly-evolving telecom market in the innovation of new services to meet growing consumer demand.
“Since its inception, Openet has been focused on providing actionable data that enables service providers to stay innovative and competitive in the fast-paced telecom market,” said Niall Norton, CEO of Openet. “We’re honored that Red Herring has recognized our commitment to helping drive the business of today’s Tier 1 providers.”
 
The 100 winning companies will be announced at the Red Herring North America event. The CEOs of the winning startups will present their innovative ideas and technologies to an audience of leading entrepreneurs, financiers, and corporate strategists at the event in San Jose, California, on May 12-14 at the Fairmont. This year’s Red Herring 100 North America event marks the 11th anniversary of the Red Herring 100 Awards. In celebration, the event will feature keynote addresses from legendary VC investors and CEOs of leading Internet, information, and communications companies. Register online at: http://herringevents.com/northamerica08/index.html
 About Red Herring   
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com. Designed to consolidate billing mediation to a single, enterprise-wide product, Openet’s Convergent Mediation solution is a key component of accurately billing for Videotron’s current solutions and setting the stage to maximize future revenue streams. The solution enables Videotron to reduce costs through consolidated billing mediation, and increase revenue by ensuring service availability.

About Openet
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.
 

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