Azure Solutions

In 2002, John Cronin founded Azure Solutions in London, United Kingdom, with a specific mission: to tackle revenue assurance for the telecommunications industry. The company developed a portfolio of products to help telecom operators, from mobile to cable TV companies, ensure they were collecting all the revenue they were owed. By 2005, the company had gained traction, attracting significant investor interest. On June 16, 2005, Azure Solutions secured a $15 million Series A funding round. The investment was led by notable firms including Intel Capital and New Venture Partners, signaling confidence in Azure's specialized B2B model. This investment set the stage for the company's major turning point. Less than a year later, in April 2006, the Indian software company Subex Systems announced it would acquire Azure Solutions for $140 million. The deal was a landmark event, reported as the largest foreign acquisition by an Indian IT firm at the time. The move was designed to create a market leader in the revenue assurance space, with the newly merged entity to be named Subex Azure.