U.S. Analyst touts Vantrix's media optimization
Although it comes at the expense of Openwave (OPWV-NASDAQ), the equity research team at U.S.-based Dougherty Markets had some nice things to say about Montreal-based Wellington Financial Fund III portfolio co. Vantrix yesterday, as reported in The Wall Street Journal:
Openwave Systems Inc. (OPWV, $1.59, -$0.62, -28.05%) slumped to levels last seen in October as the software maker reported “dismal” fiscal fourth-quarter results, prompting a nearly 20% slashing to the work force. Dougherty Markets adds Openwave “is getting out-maneuvered by privately-held competitors such as Bytemobile and Vantrix and their advantages such as customer incumbency, channel relationships and a longer track record in media optimization. A secondary issue is that Openwave’s products for legacy networks are getting pushed to the side as operators evolve 4G network plans. Bookings from legacy products (e.g., WAP gateways) evaporated in the quarter–we estimate from $29M to $7M sequentially.”
Vantrix is also backed by Steve Abrams at BDC Venture Capital, Entrepia Ventures, Innovacomm, JK&B Capital, Summerhill Ventures and Tudor Ventures.
Congrats to Allan, Elie and the rest of the team for the tip of the cap, and the momentum others are starting to see in their business.