Vignette Corp. (Nasdaq:VIGN), the leading supplier of customer-driven Internet applications, today announced that it has formed an independent company, SoloMio Corp., to develop an entirely new type of software application for the wireless carrier market.
SoloMio, Vignette®'s first incubator concept to be spun-off, will provide telecommunications carriers with personalized, data-enhanced voice services for their mobile customers. Based on the convergence of Internet and wireless technologies, SoloMio is developing large-scale applications that enable wireless carriers to provide unique and compelling services over new data networks.
SoloMio has secured an initial $6 million in venture funding from Vignette and Austin Ventures and will use its initial round to develop and market its software applications for GPRS and UMTS systems, with plans to focus initially on the European wireless market. The patent-pending technology is a large-scale network application, driving the integration of data capabilities into mainstream communication networks and delivering scalability, reliability and modularity to operate in high-availability environments.
"Vignette is pleased to play a major role in founding SoloMio to foster innovation in the mobile communications industry," said Greg Peters, president and CEO of Vignette. "With Vignette's successful track record with telecommunications companies worldwide, this is an opportunity for SoloMio to apply e-business software technology to revolutionize mainstream voice communication through personalization."
Richard Schwartz, former senior vice president and general manager of convergence applications at Vignette, founded SoloMio and will serve as president and CEO. Schwartz joined Vignette in 1999 through the acquisition of Diffusion, where he was founder and CEO. Laurie Frick, former senior vice president of marketing at Vignette, also joins the SoloMio management team. Board members include Bill Daniel, senior vice president of products at Vignette; John Thornton, general partner of Austin Ventures; and Schwartz.
"As Europe begins to deploy 2.5 and 3G networks, followed by deployments in Asia and the United States, there is an enormous opportunity right now for companies that can deliver advanced data applications to mobile users," Schwartz said. "The goal of SoloMio is to provide data services applications that will fundamentally improve voice calling."
