ACTIV-e Solutions Secures Funding From Local Venture Capital Firm; Mentor Capital Agrees with ACTIV-e Practical Business Approach.Business Editors/Hi-Tech Writers PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--Oct. 4, 2000 ACTIV-e Solutions, the area's fastest growing Application Service Provider (ASP) and Citrix(R) Platinum Partner, announced today the receipt of $550,000 in equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. from Mentor Capital led by Edward Sager and Ken Macrae, retired founder of Keystone Venture Capital. ACTIV-e will use this financing to further develop and build its fastest growing business sector, ASP. ACTIV-e's unique suite of ASP services, asp1source(TM), manages, remotely hosts and delivers applications to its subscribers utilizing standard Internet or WAN connections. This computing approach spares customers the pain and expense of developing, supporting and operating their own computing infrastructure while allowing them to access computing resources from a secure network location. "This financing allows ACTIV-e to employ additional technical and sales resources needed to better serve our growing clientele," states Tony DePaul Tony DePaul is the current writer of the Lee Falk created adventure comic strip The Phantom, which is read by millions of people every day in newspapers around the globe. DePaul has been writing the newspaper strip since Falk died in 1999. , 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. of ACTIV-e. "Both Independent Software Vendors (ISV (Independent Software Vendor) A person or company that develops software. It implies an organization that specializes in software only and is not part of a computer systems or hardware manufacturer. ) and end-users benefit from our model which provides more predictable and reliable IT operations at lower costs than many organizations can achieve internally." Mentor Capital recognizes ACTIV-e to be a valued added player in the ASP marketplace, delivering a unique and extremely flexible offering. "ACTIV-e's business model is to deliver a practical approach to the emerging ASP marketplace," states Ed Sager. About ACTIV-e Solutions ACTIV-e Solutions, headquartered in Plymouth Meeting, PA, co-locates with UUNET (UUNET Technologies, Inc., Fairfax, VA, www.uunet.net) Founded in 1987, UUNET was the first commercial Internet service provider. Originally offering e-mail and news, it became a full Internet service organization providing dial-up and leased line accounts as well as archive space for to host business and productivity software applications via the Internet. Its asp1source(TM) suite of managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality provides robust, high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. hosting services and software solutions. A Citrix Authorized Platinum Reseller, ACTIV-e specializes in the use of Citrix technology for high-speed access to Windows NT(R) and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). business applications. ACTIV-e is a Microsoft(R) Certified Solution Provider and an authorized reseller for Cisco, Compaq, Hewlett-Packard, Exabyte, NetReality, Packeteer, Sun Microsystems, and Wyse. For more information visit www.activ-e.com or call Richard Huffman at (610) 940-4700 ext. 3307. About Mentor Capital Partners, LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . Mentor is a regional diversified venture capital and private equity firm, working in partnership with portfolio company management, private or public, to create exceptional value for its investors. Leveraging its investment capital, expertise and concentrated geographic focus in Pennsylvania and New Jersey, as well as the Mid-Atlantic Region, Mentor attracts significantly greater financial resources from its extensive relationships with institutional investment funds and investment banking firms. Visit www.mentorcapitalpartners.com to learn more about Mentor Capital Partners, LTD. or call 215-736-8882. |
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