SOURCE: Red Bend Software

June 13, 2007 08:00 ET

Red Bend Software Named One of Three Most Promising Software Start-Ups in Red Herring Magazine Competition

WALTHAM, MA--(Marketwire - June 13, 2007) - Red Herring magazine and the Israel Venture Association have named Red Bend Software, the market leader in Mobile Software Management and Firmware Over-the-Air (FOTA) updating solutions for mobile phones and wireless modules, as one of the three most promising software start-ups of 2007.

This is the second year that the magazine is conducting the prestigious competition in Israel in collaboration with the Israel Venture Association (IVA), in the framework of a unique conference being held in Tel Aviv.

Red Bend Software, founded in 1999, has developed a ground-breaking, patented approach for delivering firmware updates to mobile phones over-the-air quickly, reliably and cost-effectively. Remote firmware updates are performed without requiring the mobile phone consumer to visit a service center, thus enabling manufacturers and operators to decrease their customer support costs while improving user satisfaction.

Red Bend competed against dozens of outstanding companies in the field of software, communications and life sciences. The winning start-ups were selected according to criteria such as: vision, technological achievement, market leadership and innovation. The team of judges included Joel Dreyfuss, the chief editor of Red Herring, and leading Israeli entrepreneurs.

"Since the bubble exploded at the end of 2000, a company's financial worth is determined by a wider range of factors than just an idea and how it's presented," said Orna Berry, chairman of IVA and a venture partner at Gemini Venture Capital Fund. "Start-up companies that have created value have done so with a combination of unique technology, professional people, their operational and managerial capabilities and a formulating market. All the companies in the finals had a relative advantage in these areas."

In accepting the award, Yoram Salinger, CEO of Red Bend Software, said, "In the last year, Red Bend emerged as the leader in the world market for FOTA updating. We're proud to be recognized for our recent accomplishments, for the value we bring to our customers, and for the significant market opportunity that lay ahead for our company."

About Red Bend Software

Red Bend Software helps mobile phone manufacturers and network operators to accelerate the adoption of new services and features, respond rapidly to customer needs, and reduce support costs through mobile software management solutions. LG Electronics, Motorola, NEC, Sharp, Sony Ericsson, and other large handset manufacturers use Red Bend's firmware over-the-air (FOTA) mobile client software to quickly and reliably deliver compact firmware updates to more than 100 million mobile phones in the hands of consumers. Founded in 1999, Red Bend Software is a privately held, venture capital-financed company with offices in China, Israel, Japan, Korea, the U.K and the U.S. More information is available at www.redbend.com.

About Red Herring

Red Herring, Inc. is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Israel Venture Association (IVA)

The Israel Venture Association (IVA) was founded in 1996 in response to the extensive development of the hi-tech and venture capital activities in Israel. It is a broad based organization representing the diverse aspects of the venture capital industry in Israel. The many initiatives of IVA include supporting and enhancing the growth of Israeli high-technology industries and providing a dynamic platform for members to present subjects of common interest. More information about IVA is available on the Internet at www.iva.co.il/.

Contact Information

  • Media Contacts:
    Emerge Public Relations for Red Bend Software
    Matt McCarthy
    +1 617-729-3175
    Email Contact