(COMTEX) B: RADCOM to Complete Repayment of Plenus Loan Seven Months Early
( PR Newswire )
B: RADCOM to Complete Repayment of Plenus Loan Seven Months Early ( PR Newswire
TEL-AVIV, Israel, September 7, 2010 /PRNewswire via COMTEX/ --
(RADCOM) (NASDAQ: RDCM), a leading network service assurance provider, today
announced that it has repaid the remainder of its outstanding debt to the
Plenus Venture Lending Fund, seven months in advance of its April 15, 2011
scheduled maturity date. The original credit facility was for $2.5 million.
"Our repayment of the Plenus loan is a satisfying milestone - a concrete
demonstration of the turnaround that we have achieved over the past two
years," commented Mr. David Ripstein, RADCOM's President and CEO. "When we
closed the loan with Plenus in 2008, we thanked its management for its
confidence, and asserted that our strategy, technology and team would create
significant growth over the long term.
"Now, we are delivering on that promise. Our rise in revenues and return
to profitability are being driven by one of the strongest trends in today's
recovering telecommunications industry: the huge volumes of network traffic
being created by smart phone devices, like the iPhone and Blackberry, and the
service quality challenges that they are creating. Our current products
provide an effective solution to many aspects of the problem, and we are
planning to roll out new solutions that address even more of the operators'
Mr. Ripstein concluded, "Over two years ago, Plenus took a chance on us,
and we are proud that its wager has paid off. With a growing market,
excellent solutions and a motivated team, we pledge to continue moving
forward with the goal of creating additional value for all our shareholders."
RADCOM provides innovative service assurance solutions for communications
service providers and equipment vendors. RADCOM specializes in solutions for
next-generation networks, both wireless and wireline. RADCOM's comprehensive,
carrier strength solutions are used to prevent service provider revenue
leakage and enable management of customer care. RADCOM's products facilitate
fault management, network service performance analysis, troubleshooting and
pre-mediation with an OSS/BSS. RADCOM's shares are listed on the NASDAQ
Capital Market under the symbol RDCM. For more information, please visit