UshaComm to receive $8m in venture fund

BANGALORE: Usha Communications Technology Ltd. (UshaComm), engaged in

offering OSS solutions to telecom and Integrated Communication Providers

worldwide, has entered into an investment agreement for their second round of

financing. The agreement is in association with The Carlyle Group, through its

Technology Venture Fund Asia.

Software firm Usha Communications Technology Ltd. (UshaComm) said it would

get $8 million in venture funding from US-based private investment firm Carlyle

Group. UshaComm, part of the Calcutta-based diversified business group Usha

Martin, develops billing and customer care solutions for the communications

industry.

UshaComm has its headquarters in Oregon in the United States and has clients

both in India and abroad. "The $8 million funding from Carlyle would add

significantly to our credibility in the international market place,"

UshaComm Chairman Prashant Jhawar told a news conference Reuters added.

UshaComm's software solution integrates wire-line, wireless, IP and broadband

services. Its channel partner Compaq has tested the solution at user traffic

equivalent to 10 million subscribers.

"We believe this partnership is a testimony of our growing reputation

and we will work closely to leverage Carlyle's extensive network of Telecom

partners and enhance our market presence," said UshaComm Chairman Prashant

Jhawar. "We are very pleased to help finance UshaComm's future

growth," said Tony Jansz, Managing Director of The Carlyle Group Technology

Venture Fund Asia.

The Carlyle Group is a 14 year old, global, private investment firm with over

$12.5 billion of capital under management. The Carlyle Asia Venture Partners

(CAVP) is an Asia fund (excluding Japan) and is dedicated to technology

investments in the Asia Pacific region. Since formation in May 2000 the fund has

built an investment portfolio of technology initiatives in the telecommunication

infrastructure, wireless communications, Internet and software application

industries in China, India, Singapore, Korea and Australia. CAVP aims to be a

strategic investor and active partner by providing value added services in the

areas of business development and marketing support, active matchmaking globally

and access to business and professional services.