Peribit Networks hopes to pump up Middle East bandwidth

Peribit Networks, a new wide area network (WAN) capacity and application acceleration company, today announced a new strategy for the Middle East. The company also announced new Middle East customers.

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By  Maddy Reddy Published  September 15, 2003

Peribit Networks, a new Wide Area Network (WAN) capacity and application acceleration company, today announced a new strategy for the Middle East. The 3-year old company also announced signing up new 6 new customers in UAE, 4 in Saudi Arabia and one customer each in Jordan, Kuwait and Lebanon.

With over 200 customers worldwide, Peribit is currently in negotiation stage with several enterprises in the Middle East.

"Our products generate tremendous value by reducing communication costs and enhancing network capacity, and we're confident that businesses in the Middle East will quickly come to recognize the business benefits that we can deliver," said John Rea, regional director, Peribit Networks.

The company uses a yet-to-be patented technology, which uses DNA pattern-matching techniques to substantially increase WAN capacity. Peribit Technology uses computational techniques deployed in the analysis of DNA sequences, and applies them to discover repeated patterns in network traffic. This pioneering approach forms the basis of Peribit's Molecular Sequence Reduction (MSR) technology.

Perabit claims that its products (starting at $3000 for an entry-level product) increases network bandwidth capacity which directly translates into greater network efficiency, better application performance, greater ability to roll out new applications, and lower monthly transmission costs.

The WAN player sees the Middle East as a major market for its technology, and is currently targeting the finance, government, energy and telecommunications sectors in GCC. Details of its new product blueprint for the Middle East are currently being finalized, and plans are in place to unveil the full range at Gitex 2003.

Founded by Stanford graduate Amit Singh, Peribit is funded by Accel Partners, Foundation Capital, and Mayfield and has received over $30 million in venture capital funding.

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