Francisco Partners Invests in iconectiv
August 15, 2017
Francisco Partners, a technology investment firm, announced recently that it has completed its investment in iconectiv, an independent subsidiary owned by Ericsson (News - Alert). As part of the investment, Francisco Partners invested $200 million to acquire a 16.7 percent ownership in iconectiv.
iconectiv (News - Alert) is a provider of numbering solutions and fraud and identity offerings. The company was recently designated by the U.S. Federal Communications Commission to serve as the Local Number Portability Administrator in the U.S.
iconectiv (News - Alert) recently introduced iconectiv’s Right Party Verification for Messaging that has helped companies avoid TCPA fines by providing up to date phone number information through monitoring rather than scrubbing practices. Too many companies get into trouble by sending SMS outreach to phone numbers that have been recycled. If the new owner of a number is annoyed by the texts that they didn’t sign up for, they can get the company into some pretty big trouble.
Meanwhile, iconectiv’s MobileID helps companies and individuals prevent International Revenue Share Fraud (IRSF) and tackle International Premium Rate Service (IPRS) phone numbers.
Through these solutions, as well as the several others iconectiv offers, companies and individuals alike are becoming more educated about fraud. The more information that operators, banks, credit card companies, marketers and so on have about fraud, the more likely they are to catch fraudsters in the act. With the new investment from Francisco Partners, iconectiv can continue to keep customers safe.
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