Following the success of investments such as Concord Communications and Net2Net, we proactively targeted investment opportunities in the next generation of network management and telecom operations support systems. Synchronoss had recently spun-off from Vertek, a provider of telecom consulting services, to build a hosted order management system for Tier 1 carriers.

• Ascent participated in the first and only institutional financing of Synchronoss, the market leader for on-demand transaction management solutions.
• The company enjoyed early success and supported the order management of major data carriers, including AT&T and WorldCom, but during the severe telecom crisis in 2001-2002, Synchronoss recognized the need to change strategy. Ascent provided feedback on various alternatives and demonstrated strong support to Synchronoss’ management in their efforts to reposition the company.
• Ultimately, the Synchronoss team refocused on the market for managing wireless and Voice over IP transactions. This strategy was highly successful, culminating in Synchronoss’ IPO in June 2006.