SHLOMO DOVRAT NOMINATED AS CHAIRMAN AT AXERRA NETWORKS1
-- Respected Leader in the High-Tech Industry Lends Guidance as Axerra Expands Operations --
Boston, MA and Herzliya, Israel – June 19, 2006 — Axerra Networks, “The Pseudo-Wire Company®” and the leading provider of circuit emulation and service emulation solutions over packet access networks, announced that the company has appointed Shlomo Dovrat as Chairman of the Board of Directors, effective immediately. Mr. Dovrat, General Partner and Founder of Carmel Ventures, has been a leading figure in the high-tech industry for over 20 years. He is also currently the Chairman of ECI Telecom Ltd. (NASDAQ: ECIL), a global provider of advanced telecommunications solutions to major carriers and service providers.
“As a veteran high tech executive, Shlomo has earned an excellent reputation both within our industry and within the investment community,” said Gadi Tamari, chief executive officer for Axerra Networks. “Shlomo is a visionary for global telecommunications and his business leadership will be valuable, especially now as we continue to expand our operations around the world."
“Axerra Networks is in an exciting leadership position with significant market traction,” said Shlomo Dovrat. “Axerra has done an excellent job defining the Pseudo-Wire market and delivering total solutions to operators and service providers worldwide based on cost-effective packet technology. Demand for Pseudo-Wire solutions is growing and I look forward to serving as Axerra’s chairman and contributing to its continued success."
Commenting on Mr. Dovrat’s appointment, Axerra’s Founder and COO Gil Biran commented, “This is a very positive step for Axerra. Shlomo’s technology background combined with his strategic thinking has helped his companies achieve and extend market leadership positions. With his guidance, Axerra is well positioned to realize our tremendous potential as the leader of the Pseudo-Wire market.”
Axerra Networks has already garnered a number of prestigious industry awards this year. At the 3GSM World Congress in February, Axerra’s solutions were named as “commended” finalists in the GSM Association 2006 Awards for “best radio access product or service.” Last month, Axerra was named a recipient of the 2006 Red Herring 100 Europe award, which recognizes the 100 top private companies playing a leading role in innovation and technology. In addition, Red Herring magazine, in conjunction with Israel Venture Association, identified Axerra as one of the top nine startups in all of Isreali high-tech and a finalist in the Israeli Startup Contest 2006. Finally, Axerra has been named to FierceWiFi’s Fierce 15 list, honoring the company’s innovations benefiting the wireless market.
Axerra Networks’ Pseudo-Wire solutions enable mobile wireless operators, cable operators, competitive access providers, and incumbent carriers to extend IP plus traditional voice and data services over Ethernet, IP, and MPLS networks. Axerra Networks’ family of award-winning AXN Pseudo-Wire Gateways and Access Devices™ are now tested and deployed on four continents.
About Carmel Ventures
Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel Ventures is one of Israel’s leading venture capital funds focused on information technology with $372 million under management. Led by former entrepreneurs and executives of the software, communications and investment industries, Carmel provides active, hands-on support to its portfolio companies. Carmel headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources. Carmel provides significant capital and support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. For more information, please visit www.carmelventures.com.
About Axerra Networks
Axerra Networks is the leading provider of circuit emulation and service emulation solutions over packet access networks. Axerra’s Pseudo-Wire solutions enable mobile wireless operators, cable operators, competitive service providers, and incumbent carriers to extend IP plus legacy data and voice services in native format over Ethernet, IP, and MPLS networks. The result is greater operational efficiency, new revenue opportunities, and a smooth migration strategy to a single converged network, without stranding any revenue streams from profitable legacy services. With Axerra’s Pseudo-Wire solutions, service providers can convert any packet access network (Carrier Ethernet, broadband wireless including WiMAX, cable HFC, xDSL, PON, etc.) into a full-service alternative to TDM access. For more information, please visit: www.axerra.com.