Friday, January 30, 2009

ISP support firm HiWired sold

By Mass High Tech staff

Technology support and services provider HiWired Inc., of Needham, has been bought by Montreal Internet security firm Radialpoint. The deal calls for HiWired’s ISP technology support to go into Radialpoint’s plan to develop new ISP-related revenue.

No financial terms of the acquisition deal were disclosed. However, Radialpoint will add HiWired co-founder Michael Wexler to the company’s role of vice president of premium care and co-founder Singu Srinivas to vice president, sales, Americas.

HiWired provides tech support to Internet service providers, retailers, small businesses and consumers. Founded in 2004 by IBM services veterans, HiWired was launched as LightFrog LLC but changed its name in 2005 to better reflect its technology focus, company officials said. Last January, the company closed on a $9 million Series B round of financing, increasing the amount of investment capital raised by HiWired to $15.6 million, officials said.

Before its acquisition, HiWired retained U.S. brand customers such as Comcast, Cox Communications and Windstream.