[0] MimEcom and Rare Medium Form Strategic Alliance to Provide End-To-End Solutions for Building and Operating High-Performance E-businesses.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & SAN FRANCISCO--(BUSINESS WIRE)--Aug. 22, 2000 Rare Medium Participates in Equity Investment in MimEcom Corporation Rare Medium (Nasdaq:RRRR RRRR Raritan River Rail Road RRRR Rare Medium Corp. (NASDAQ stock symbol) ), a leading Internet solutions provider, and MimEcom, a privately held, leading provider of Application & Infrastructure Management(SM) (AIM) services, today announced a strategic alliance to provide services to rapidly build, deploy and manage e-business Web sites. The alliance will leverage Rare Medium's expertise in developing high-performance sites and MimEcom's expertise in monitoring and operating them. The two companies will jointly develop a Unix-based reference architecture for the rapid deployment of high volume e-commerce sites and create joint marketing and sales campaigns aimed at promoting and generating demand for the MimEcom-Rare Medium end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. . In addition, Rare Medium Group, Inc. announced it has invested in MimEcom Corporation's second round financing. Led by Baker Capital and Azure azure /az·ure/ (azh´er) one of three metachromatic basic dyes (A, B, and C). az·ure n. Any of various dyes used in biological stains, especially for blood and nuclear staining. Capital Partners, other participants included Aman Ventures, Boston Millenia Partners, Putnam, Wheatley Partners, Blue Vector, and Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. . Returning in this round are Weiss, Peck & Greer Venture Partners and Spectrum Equity Investors; both were significant investors in MimEcom's initial round of funding. The decision represents a strategic investment for Rare Medium, whose award-winning Internet services business will provide a sales channel to MimEcom. As part of the alliance, the two companies are building standards-based site architectures on Unix platforms and an extensive training and certification program to ensure successful integration of MimEcom's AIM services into Rare Medium's methodology and application development service offering. In addition, MimEcom and Rare Medium will cooperate on the research and development of additional AIM service offerings to advance the performance capability, reliability and scalability of mission-critical, high-growth web sites. MimEcom provides a complete Application & Infrastructure Management (AIM) solution for high-growth e-commerce sites. MimEcom's solution addresses all the requirements of AIM including architecture and system sizing, rapid system deployment The deployment of a mechanical device, electrical system, computer program, etc., is its assembly or transformation from a packaged form to an operational working state. Deployment implies moving a product from a temporary or development state to a permanent or desired state. , 24x7 monitoring and management, risk management and growth management. At the core of MimEcom's services is the MimEcom Service Automation Platform(TM) that speeds deployment of large-scale sites and ensures robust ongoing operations. "We believe MimEcom's platforms for operating and managing highly complex Web sites are the best in the industry and will provide an ideal solution for clients who don't have the resources or experience to manage sites on their own," said Brian Francis, senior vice president of marketing and global alliances for Rare Medium. "MimEcom provides customers with all the services necessary to architect and operate business-critical Web sites and Rare Medium brings deep expertise in application development. Through this alliance, we will be able to build highly optimized architectures designed to eliminate post-deployment issues and maximize performance, scalability and ensure robust security," said Bill Doss Bill Doss is among the co-founders of the influential Elephant Six Collective, based in Athens, Georgia, and also one of the key creative forces behind The Olivia Tremor Control, one of the leaders of the collective, and later, following the band's break-up, The Sunshine Fix. , vice president of business development at MimEcom. "Rare Medium is a key strategic partner for us. Together we offer customers a complete, best-of-breed solution for development and management of high-end sites." About MimEcom MimEcom is a leading provider of Application & Infrastructure Management(SM) (AIM) services for large-scale e-commerce sites requiring mass customization. MimEcom services Global 2000 companies and fast growing Internet-centric companies. At the core of MimEcom's AIM services is the MimEcom Service Automation Platform(TM) that speeds site deployment and provides automated 24x7 on-going management and monitoring. Accountable for a customer's entire e-commerce infrastructure and 24x7 operations, MimEcom's unique solution is a complete outsourced alternative for business-critical e-commerce sites. The San Francisco-based, privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. was founded in September 1999. The senior management team and founders include executives from EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. , Fort Point Partners, AOL/Netscape, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , MarchFIRST, Oracle and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. . For more information, visit http://www.mimecom.com. About Rare Medium Group, Inc. Rare Medium invests in next generation Internet See Internet2. companies and provides end-to-end Internet Services. Rare Medium incubates, finances and manages private companies and also makes strategic investments in independently managed companies that it believes possess superior Internet-focused business models. Rare Medium's Internet Services include development and authoring of business plans and strategies; strategic, creative and technological consulting for Web initiatives; on-line brand development and management; development of content for broadband and wireless applications; and launch of on-line commerce trading exchanges. Rare Medium leverages its Internet Services expertise to increase the overall success of the companies in its investment portfolio. Rare Medium employs over 1100 people in more than 20 locations worldwide. For more information, visit http://www.raremedium.com. Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that these forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. reflect numerous assumptions and involve risks and uncertainties that may affect Rare Medium Group Inc., and its subsidiaries' business and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Rare Medium's limited operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms and those risks discussed in the company's filings with the SEC. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion