Oracle Buys Pitango-Backed Convergin

In its 52 M&A deal since 2005 and its third acquisition announced in the past week, Oracle acquires Israel-based Convergin, developer of a real-time service brokering applications for the telecom industry. Convergin has raised around $10 million in VC funding from Pitango Venture Capital and Rich Investment in November 2008. The financial terms of the deal were not disclosed.

Convergin’s industry-leading J2EE-based Service Broker platform enables communications service providers (CSPs) to manage services for a wide range of networks and application platforms, including pre-paid charging. The solution allows CSPs to focus on launching innovative services while modernizing to next-generation networks.

According to Oracle’s official announcement:

Adding Convergin products to Oracle Communications portfolio is expected to enable customers with next-generation solutions to address network migration to an all IP core, significantly reducing integration and hardware costs. This combination is expected to accelerate deployment of next-generation pre-paid and value-added services in the communications industry. The transaction is expected to close in the first half of 2010.

Formerly known as PhoneDo Networks, Convergin was founded in 2000 by Ayal Itzkovitz, a former assistant professor at NYU’s Computer Science Department and a member of Microsoft’s R&D center in Israel. The company is headquartered in Herzliya, Israel.

Eze Vidra
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Eze Vidra

Chief Innovation Officer at Antidote
Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Ezewas a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google's first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.
Eze Vidra
Follow me

Eze Vidra

Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Eze was a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google’s first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He’s an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.

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