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Netifice Communications – Profile

March 15, 2005

netificeLogo.gif
HQ: Costa Mesa, CA, previously in Atlanta, GA.
Founded: 1997
Management: In June 2004, D. Craig Young was made Chairman and CEO. He was previously Vice Chairman and President of AT&T Canada, CEO of MetroNet and President of Brooks Fiber.
Investors: In March 2005, Netifice raised $55M from Columbia Capital, Boston Millennia Partners, Dolphin Equity Partners, HIG Capital, Fidelity Ventures and Rho Ventures. To date, the company has raised more than $95M.
Business Model: Netifice is a new-fangled ISP that sells managed Virtual Private Network (VPN) services and secure remote access to larger companies. In March 2005, the company acquired the SSL VPN business from Aventail. Netifice currently lays claim to 2000 customers. The company’s strategy is to offer the gamut of secure ISP services, so at this point it competes with everyone, and nobody in each sector. The company should be cash-flow positive by now.
Competitors: Megapath Networks, GoRemote, Positive Networks, Viretela Communications, Verio.
Dirt: Analysts expect that Netifice’s next M&A move will be into VoIP. The company does not indicate how much its latest acquisition cost in cash, but we expect it should have enough left over to make a good VoIP buy. We are impressed by what Netifice is doing because it is not succeeding due to unique technologies – rather it is executing where others have blundered. This company seems to see the writing on the wall better than most.

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3 Comments leave one →
  1. June 20, 2006 10:46 am

    Edmonton dominated the Carolina Hurricanes on Saturday night and the 4-0 margin in Game 6 makes it hard to imagine the Oilers not hoisting hockey’s Holy Grail above their heads in less than 48 hours. And it would not come as any shock to see defenseman Chris Pronger, who had another 31-minute night, take the honors for the Conn Smythe Trophy as the playoff MVP.

  2. June 21, 2006 5:45 am

    Edmonton dominated the Carolina Hurricanes on Saturday night and the 4-0 margin in Game 6 makes it hard to imagine the Oilers not hoisting hockey’s Holy Grail above their heads in less than 48 hours. And it would not come as any shock to see defenseman Chris Pronger, who had another 31-minute night, take the honors for the Conn Smythe Trophy as the playoff MVP.

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