NewNet Communication Technologies (NewNet), a Skyview Capital LLC portfolio company, and recognized leader in mobile messaging, broadband wireless, and network signaling solutions for wireless, IP, and wireline networks, today announced it has successfully signed an agreement to acquire Tekelec’s Mobile Messaging Business. Headquartered in Amsterdam, Tekelec’s Mobile Messaging business provides innovative and modular Short Text Messaging solutions to wireless carriers worldwide.

Tekelec’s Mobile Messaging solution is based on its future proof, innovative and modular “Short Message Service (SMS) Network” concept, designed to overcome the obstacles of legacy SMS infrastructures and allow operators to deploy new advanced messaging services to increase revenues and reduce capital expenditures and operating expenses.

The acquisition of the Tekelec Mobile Messaging business represents a significant milestone in the evolution of NewNet's product portfolio and market focus. The group’s globally deployed employees will become part of NewNet's team, ensuring business and product development continuity.

NewNet's CEO, PJ Louis, said: "Our acquisition of Tekelec’s Mobile Messaging business will enable NewNet to expand on its next-generation messaging solution to service providers, enhancing our competitive position and accelerating our commercial growth." Louis continued, "NewNet is committed to providing best in breed products and unrivaled service and support to our global customer base. The Tekelec Mobile Messaging business combined with NewNet’s existing signaling, SMS messaging, and Mercury Multimedia Messaging applications will enable NewNet to offer our carrier customers an even more robust product solution."

"NewNet will take the Tekelec Mobile Messaging technology to its next stage through continued investment in the platform and aggressive global marketing," said David Rice, Senior Vice President and General Manager of Tekelec’s Global Signaling Solutions business. "NewNet's strong messaging position, seasoned management team and commitment to customer service will help service providers fully capitalize on the legacy and next-generation mobile messaging services."

Angela Ledford, NewNet EVP and Telecom Applications Business Unit General Manager says of the acquisition, “We are excited to add the Tekelec Mobile Messaging products, services and capabilities to our existing Short Messaging Service Center (SMSC) and Multimedia Messaging Service Center (MMSC) portfolio."

"The acquisition of Tekelec’s Mobile Messaging business is strategically important to the continued development of NewNet," said Alex Soltani, Chairman and CEO of Skyview Capital. "We see mobile data and messaging as an area of significant growth. Skyview will continue to expand NewNet's product portfolio and market reach, positioning NewNet for exceptional future growth.”

The Stock purchase Agreement was signed July 7, 2012, with an anticipated closing date by August 10, 2012. Terms of the agreement were not disclosed.

About NewNet Communication Technologies

NewNet Communication Technologies, LLC is a leading provider of innovative solutions for next generation mobile, fixed line networks and credit card processing. NewNet enables global telecom operators and equipment manufacturers to rapidly develop and deploy cutting edge, revenue generating applications that deliver feature rich, value added services. A 20 plus year old company, NewNet products can be found in over 70 countries. The NewNet portfolio includes a 4G WiMAX broadband solution, TraxcomSecure transaction payment processing technology, Mercury, an integrated messaging and content delivery system. NewNet connects the unconnected. NewNet is based in Arlington Heights, IL USA. For further information, please visit www.newnet.com.

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of "systems - critical" enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 15 transactions within its target market verticals. For further information, please visit www.skyviewcapital.com.