IFC, a member of the World Bank Group, has invested $5 million in DiViNetworks. The Tel Aviv based company provides network operators and internet service providers (ISPs) with cloud-based broadband solutions that significantly improve data delivery while saving costs. This is IFC’s first investment with an Israeli company in the technology sector.
The DiViCloud service uses DiViNetworks’ patented technology to increase Internet transmission capacities and free up congested internet connections. With deployment in 21 developing countries, the solutions lower costs and increase internet access for enterprises and consumers.
DiViNetworks’ CEO Barak Avitbul said, “The IFC’s investment and contribution will fuel our aggressive growth in emerging economies, enabling ISPs in those countries to economically and efficiently connect their users to the cloud.”
Most of DiViNetworks’ clients are located in Sub-Saharan Africa, Latin America and South East Asia, with 80% based in the world’s least developed countries as classified by the World Bank’s International Development Agency.
IFC global practice leader for IT services Horacio Rivera-Piza said, “In today’s world, affordable and effective internet access is increasingly important for economic development. DiViNetworks’ technology is offered as a monthly service, playing an important role in expanding broadband access in a simple and cost efficient manner.”
“DiViNetworks EVP products Dr. Yair Shapira said, "DiViNetworks equips ISPs with means to bring global data into their network in the most efficient, cost-effective and controllable way. By combining top-of-the-line technologies with global cloud-based infrastructure, every ISP, regardless of size or location, can benefit from our services.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 17, 2013
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