TTM Announces $6 Million Funding to Develop Wireless Transport Networks; New Company Names Steve Hooper, Wireless Industry Pioneer and Co-Founder of Ignition Partners, as Chairman
Rally Capital managing partner Dennis Weibling, who previously served as president of Craig McCaw's investment management company, Eagle River Investments, LLC, joins TTM's board of directors. He has served on the boards of Nextel Communications, Teledesic and XO Communications, among others, and is currently a director of Nextel Partners. Telecom Transport Management also named Steve Hooper, a founding partner at Ignition and former CEO of AT&T Wireless Services, as chairman, succeeding founding chairman Tom Huseby of SeaPoint.
“Our investors have been instrumental in positioning Telecom Transport Management to understand the huge transformation facing the industry and create a successful, customer-focused business to respond to it”
US wireless carriers face a serious challenge. As demand for voice and data services grows, carriers must rapidly increase bandwidth while improving operating efficiency and financial results. Transport networks, which provide connectivity between carriers' cell site locations and their switching centers, account for about 25 percent of carriers' network operating costs. Today's transport solutions are often individually developed, expensive, inflexible and can be difficult to manage. By using advanced technologies in a multi-provider, shared-facilities model, Telecom Transport Management reduces complexity, improves network management, and reduces cost.
"Telecom Transport Management enables the wireless industry to offer its customers the full potential of both voice and next generation 3G services," said Mark Hamilton, president and CEO of TTM. "Most US carriers plan to accelerate deployment of advanced 3G services and technologies through 2006. 3G technologies let customers use laptops and handsets to access the Internet and to communicate using voice and media, including rich graphics, video and music, and other complex data. The growth in mobile voice and data will dramatically increase the demand for wireless bandwidth and transport capabilities -- and TTM's solutions meet that demand."
"Our investors have been instrumental in positioning Telecom Transport Management to understand the huge transformation facing the industry and create a successful, customer-focused business to respond to it," Hamilton added. "In addition to working closely with industry leaders of the caliber of Tom Huseby and now also Steve Hooper and Dennis Weibling, I am pleased to have many of my former colleagues join in this exciting endeavor."
"Telecom Transport Management has created an efficient, reliable network to address wireless carriers' rapidly growing transport requirements. The company's ability to monitor the network and respond immediately to any issues is very impressive," said Rally Capital's Weibling. "In addition to deploying a quality network, TTM has assembled an experienced and qualified team of executives to help ensure the success of this enterprise. Each member of the team has twenty years or more of experience that was dedicated to building the wireless industry from the ground up, at companies like McCaw, Bell Atlantic, AT&T Wireless Services, and MCI, among others."
Telecom Transport Management will use funds raised in this round to expand its facilities-based bandwidth solutions and enhance its systems management and IP-based traffic aggregation solutions.
About Telecom Transport Management:
Telecom Transport Management offers wireless providers a comprehensive solution for managing their transport networks. Transport networks are critical links for wireless communications. Growth in demand for wireless voice and advanced data services will drive the need for increased transport bandwidth and quality of service in the next three years. In partnership with industry-leading equipment providers, including Ericsson, Telecom Transport Management is creating an innovative, best-in-class solution that is more cost-effective, reliable, flexible and manageable than current transport solutions. TTM's executive team includes wireless pioneers from McCaw Cellular, Bell Atlantic, AT&T Wireless Services, MCI, and other innovative wireless companies. Investors include SeaPoint Ventures, Ignition Partners, Rally Capital, LLC and others.