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AYAYA BUYS MOBILE SOFTWARE COMPANY TRAVERSE FOR $15M — A LOSS FOR INVESTORS

Editor
November 17, 2006 7:36 AM
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Avaya, a New Jersey maker of corporate telephone equipment, has acquired
Traverse Networks, of Fremont, for $15 million.

Traverse makes software that lets customers connect mobile devices to their
networks, so that their employees can use applications and better manage voice
mail while on the go.

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From the press release:

> Traverse enables users to see and hear office voice mail through an email-like
> inbox on their mobile devices, providing streamlined access to messages and
> fast ways to respond. The inbox displays office voice mail messages with
> information about whom the message is from, when it was sent, and message
> duration. Users can select one or more messages, press play, and listen to
> them in any order. There is no need to dial a number for access, no PIN, and
> no awkward touch-tone menus.

The company raised at least $15.5 million from Labrador Ventures, Cisco Systems,
Foundation Capital and Lightspeed Ventures.

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