Sidonis, a Bath, UK-based developer and provider of innovative software that helps companies in the telecoms and broadcast, finance and utilities industries manage their networks and services, has secured private equity funding.
In conjunction with the funding, Gregor Logan has joined Sidonis’ board as a Non-Executive Director.
He brings over 30 years’ experience in the fund management industry, working at Fidelity for 13 years, then at MGM Assurance and New Star Asset Management.
By helping service providers identify the root cause and impact on services of network faults, the company’s software aims to cut costs and save money related to service level agreement penalties or lost revenues.
In addition to the equity funding, Sidonis has also received a research grant from the UK’s South West Regional Development Agency to explore potential extensions of its advanced software to support other markets.
The company currenlty has customers in the UK, North America, South America, Europe and the Middle East, with partners including Aviat (formerly Harris Stratex), AssureNet LLC, SciSys and IPL.