This investment will accelerate CENX's global market and portfolio expansion by addressing the emerging service lifecycle orchestration (LSO) requirements for service providers evolving toward software-defined networking (SDN) and network functions virtualization (NFV) technologies. CENX's Cortx Service Orchestrator is a key enabler of SDN and NFV deployments, leveraging the power of big network data analytics to dynamically deliver, visualize, and guarantee data services across heterogeneous physical and virtualized networks.
The growing demand for cloud applications for businesses and consumers is driving service providers to modify how they operate their networks, turning to software systems that support agile service delivery and real-time service assurance. The LSO market is estimated to grow at a compound annual growth rate of nearly 60%, reaching $2.7 billion by 2019, according to The Rayno Report, fueled by SDN and NFV carrier markets that are growing 50-80% annually.
“We welcome the market, business, and partnership insights that VMware, BDC Capital, and Mistral bring to CENX,” said Ed Ogonek, president and CEO of CENX. “We see tremendous global demand for our Cortx solution, which delivers tangible value to today’s networks and enables the evolution to virtualized networks and services with NFV and SDN. With the support and confidence of our growing investor base, we continue to expand our winning team to pursue these global opportunities.”.
“CENX is at the forefront of the growing LSO market with the Cortx Service Orchestrator, and we are pleased to support its continued global business growth,” said Ron Warburton, Managing Partner, IT Venture Fund, BDC Capital. “This is a great opportunity to bring Canadian innovation to mobile, cable, and cloud service providers around the world.”
“CENX shares VMware’s vision of providing innovative solutions for virtualized and cloud computing,” said David Wright, vice president, Operations, Telco NFV Group, VMware. “With more and more carriers moving to NFV, there is a real need for CENX’s large-scale, real-time LSO solutions to ensure end-to-end quality of service across a physical and virtual network infrastructure. We are eager to be part of this profound industry transformation.”.
“The committee is extremely pleased with CENX’s business development and, on behalf of all investors, we are very excited to be part of its next stage of growth,” said Sean Dalton, partner at Highland Capital Partners and chairman of the CENX committee. “CENX has been aggressively building its global footprint and organizational capabilities year after year, driven by strong demand for its Cortx solutions. We expect this trajectory to continue as operators transition to next-generation data networks.”
