Thursday, August 21, 2008

Sonexis to be bought by Compunetix

Sonexis Inc. has agreed to sell its assets to subsidiary of teleconferencing systems maker Compunetix Inc., officials report.

Pennsylvania-based Compunetix develops collaboration products for telecommunication service providers, large corporate enterprises, and government agencies. Tewksbury-based Sonexis Inc. will fall under Compunetix’s Sonexis Technology Inc. division, company officials said.

No financial details of the deal were disclosed.

Sonexis, founded in 2001, develops an in-house audio conferencing bridge designed to work within existing voice and data networks. The company was founded by serial entrepreneur David Friend, who is now the CEO of Boston-based online backup company Carbonite Inc.

In 2005, Sonexis completed a $2.5 million Series B round of venture capital investment led by Boston-based Velocity Equity Partners.

Velocity Equity Partners was founded with the merger of Velocity Capital and Corning Technology Ventures. Its investments have included Virginia-based Exmplar Inc., Dedham-based Metatomix Inc., Burlington-based Nexaweb Technologies Inc., Lexington-based AccuRev Inc. and Westford-based Reflectent Software Inc., which was acquired for an undisclosed amount by Fort Lauderdale, Fla.’s Citrix Systems Inc. in 2006.

Compunetix, founded in 1968, reports that the deal would expand the company’s product line and increase the number of its customers.