3i and Carlyle Lead $15 Million Investment in DevelopOnline.com; Innovative Start-Up to Accelerate Product Development Cycles to Internet Speed.Business Editors/High-Tech Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. and WASHINGTON--(BUSINESS WIRE)--May 15, 2000 Two leading international venture capital and private equity firms, 3i and Carlyle Venture Partners, an affiliate of The Carlyle Group  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. The Carlyle Group is a Washington, D.C. , announced today a $15 million investment in Tempe, Ariz.-based DevelopOnline.com. A spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. from Intel Corp., DevelopOnline.com is an on-line product development accelerator that collapses the cycle time within the electronic design process by lowering the entry barrier for innovation and product creation. Electronic product businesses are increasingly driven to improve returns on development spending and to reduce time to market. To date, leading U.S. industry players and universities are collaborating on the technologies within DevelopOnline.com. As a major venture capital firm with a presence in the U.S., Europe and Asia, 3i will facilitate the rapid expansion of the company internationally. "This is development at Internet speed," said Paul Rivers-Latham, a director of 3i Group in the U.S. "DevelopOnline.com has already assembled stellar technology and key partnerships. We look forward to helping them change the way product development is done." "We believe significant opportunity exists within this space and DevelopOnline.com, with its ability to accelerate the innovation process, will quickly obtain the critical mass necessary to effectively capture the marketplace. The strong management team with their Intel heritage further positions the Company for success," said Brian Hayhurst, vice president at Carlyle Venture Partners. "By merging the process of innovation with the speed of the Internet, innovators can accelerate time to market initiatives in the New Economy," said Alan Steinberg Dr. Alan Steinberg is an American author. He has published Divided, a collection of short stories, and Cry of the Leopard, a novel. In addition an opera of The Falcon and the Sailor Boy, for which Steinberg wrote the libretto, was recently performed at SUNY Potsdam, starring , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president, DevelopOnline.com. About 3i 3i is a leading international venture capital company with U.S. offices in Palo Alto and Waltham, Mass. 3i Group Plc is listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and is a FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. 100 company. In the U.S., 3i concentrates on technology with an emphasis on business-to-business e-commerce and telecommunications. 3i investments in the U.S. include: CollegeNET, Colorado MicroDisplays, Garage.com, GlobalSight, One World Networks, Sand Hill Systems, TimeBills.com, TradeAccess, WineryExchange and Yet2.Com. 3i leverages its world-wide presence to add value to its portfolio companies. Worldwide, 3i has invested over $17 billion through a network of 38 offices; 34 in Europe, 2 in Asia and 2 in the U.S. 3i invests in the U.S. as 3i Technology Partners. Visit 3i at www.3iUS.com. About Carlyle Venture Partners Carlyle Venture Partners, L.P. is a $210 million venture capital fund focused on the Internet/information technology, communications, health care services and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries. Carlyle Venture Partners is an affiliate of The Carlyle Group, a global investment firm based in Washington, D.C. The firm currently has over $10 billion of capital under management by separate teams dedicated to management-led buyouts and strategic minority investments, venture capital, and real estate both in the U.S. and throughout Europe and Asia. Some of Carlyle Venture Partners' other Internet-related investments include Blackboard, Narrative Communications (sold to At Home Corp. (Nasdaq:ATHM ATHM Excite@Home (NASDAQ symbol) ATHM Alternative Therapies in Health and Medicine ATHM American Textile History Museum (Lowell, MA) ), in December 1998), NorthPoint Communications NorthPoint Communications (Former NASDAQ: NPNT) was a CLEC (Competitive Local Exchange Carrier), focused on data transmission rather than voice. Its business plan involved leasing copper telephone lines from local phone companies, then selling them at wholesale prices to (Nasdaq:NPNT NPNT No Picture No Talk NPNT No Picture, No Truth ), Cidera, Exotec, BioNetrix and InfoRocket.com. More information on Carlyle Venture Partners is available at www.thecarlylegroup.com. About DevelopOnline.com DevelopOnline.com is a Tempe-based Intel spin-off designed to reduce the total cost of innovation by introducing foundational building blocks to the electronic design cycle over the Internet. By reducing design cycle time, DevelopOnline.com can help to accelerate time to market initiatives through an environment that fosters creativity among innovators and market-techs. DevelopOnline.com employees 25 people and is presently conducting beta trials. |
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