AccessLine Completes $45 Million Mezzanine Finance Round; Goldman Sachs Leads List of Prestigious Investors.Business Editors BELLEVUE, Wash.--(BUSINESS WIRE)--June 19, 2000 AccessLine Holdings Inc., the parent of AccessLine Communications, an industry leader in hosted communications and voice services, today announced it has completed a $45 million mezzanine round of financing led by Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. . Additional investors include Chase H&Q, Moore Capital, SunAmerica and existing investors Venrock Associates, Gabriel Venture Partners and Invesco. The funding will be used for general working capital purposes, including the ongoing build out of AccessLine's nationwide network, growth of the company's hosted communications services, expansion into international markets and an increase in AccessLine's enterprise and telecom sales force. "This impressive array of financial investors is strong validation of AccessLine's market opportunity, visionary management team and technology leadership," said Rick Bolander, chairman of the AccessLine board and managing director of Gabriel Venture Partners. AccessLine services are hosted, scalable communications and voice services for both Fortune 5000 and emerging telecommunications companies and service providers. AccessLine provides enterprise and telecom customers enhanced agility and flexibility by moving communications and voice services from the campus to the network, reducing the costs and burdensome deployment times of traditional hardware-based voice and communications systems. "Our commitment to AccessLine is based on our strong belief that outsourced communications represent a tremendous growth opportunity, as companies require more flexible, strategic communications services to compete effectively," said Rob Gheewalla, vice president, Goldman Sachs and AccessLine board member. "AccessLine's superior technology and proven success in the enterprise and emerging telecom markets enhance its leadership position in this rapidly growing industry." "We are pleased that these global financial leaders -- companies that have a track record of identifying technologies and companies that change industries -- have invested in AccessLine and placed their trust and confidence in our vision for the hosted communications services market," said Ian Widger, president and 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 AccessLine. "With the hosted application market expected to reach $11.3 billion by 2003, AccessLine is well positioned to take advantage of the industry's growth. AccessLine's outsourced communications services give business and technology partners a competitive advantage because they can move faster -- and with much lower costs -- than with hardware-based systems." AccessLine services for the Fortune 5000 market include: Enterprise PBX (Private Branch eXchange) An inhouse telephone switching system that interconnects telephone extensions to each other as well as to the outside telephone network (PSTN). Services(sm) (E-PBX) and Enterprise Voicemail Services(sm) (EVS EVS European Voluntary Service EVS Environmental Science EVS Electric Vehicle Symposium EVS Enhanced Vision System EVS environmental studies EVS European Values Study EVS Electronic Verification System EVS Extreme Voltage Shutdown ). These services feature hosted PBX, voicemail and enhanced call management services that enable businesses to deploy and expand voice communications networks with customers, staff, partners and suppliers far faster than hardware-based systems. With E-PBX and EVS, corporations can reduce the need for new, large capital expenditures, an improvement over the traditional approach of purchasing hardware-based systems that often become quickly obsolete. For emerging telecommunications companies -- broadband DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , cable and wireless providers, CLECs, ISPs and utilities -- AccessLine's VoiceEngines(sm) provides a suite of hosted, scalable communications and voice services that can be deployed quickly, reducing time-consuming and expensive product development cycles. Telcos can also take advantage of AccessLine's Web-based customer provisioning, customer service and billing, thereby reducing the barriers to rapid deployment of new, competitive services. About AccessLine AccessLine Communications Corporation, is a subsidiary of AccessLine Holdings and an industry leader in hosted voice communications, offering a range of communication services to enterprises, emerging telecommunications companies and technology partners. AccessLine's outsourced communications services give businesses the agility they need to grow and compete in the fast-paced global economy and the flexibility of hosted communications that reduce ongoing capital investment. AccessLine is headquartered in Bellevue, Wash. For more information please visit www.accessline.com. About Goldman Sachs Goldman Sachs (NYSE NYSE See: New York Stock Exchange :GS) is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. Goldman Sachs is headquartered in 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 and maintains offices in London, Frankfurt, Tokyo, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and other major financial centers around the world. About Chase H&Q The Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. (NYSE:CMB Noun 1. CMB - (cosmology) the cooled remnant of the hot big bang that fills the entire universe and can be observed today with an average temperature of about 2. ), with more than $370 billion in assets, is one of the world's premier 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. institutions, with operations in 48 countries around the globe. Chase has a top-tier ranking in all areas of investment banking, private banking, trading and global markets activities, as well as information and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. . Chase is a leading provider of financial solutions to large corporations, financial institutions, government entities, middle market firms, small businesses and individuals. Chase can be reached on the Web at www.chase.com. About Gabriel Venture Partners Gabriel Venture Partners invests in emerging market leaders in the information technology and Internet/telephony communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. . GVP GVP Genesys Voice Platform GVP General Voters Party (Fiji) GVP Gasoline Vapor Pressure GVP Global Vision for Peace GVP Global Visualization Process focuses its activity on distinctive or proprietary products and technologies in these industries and companies that it expects to be future industry leaders in emerging markets, provide a sustainable advantage in each applicable market, and exhibit superior management capabilities. Investments include Exodus, AccessLine, Concord, iTango and Tut Systems. About Invesco INVESCO Funds Group, with over $50 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , is one of the premier mutual fund management companies in the United States, providing a wide and innovative range of investment products and services to individuals and institutions. It is a subsidiary of AMVESCAP PLC, a worldwide investment management company with more than $391 billion in assets under management. AMVESCAP is one of the world's largest individual investment managers, operating under the AIM and INVESCO brand names. AMVESCAP is a holding company offering a broad array of investment products and services to institutions and individuals across all distribution channels. The company is listed on the London, New York, Paris and Frankfurt Stock Exchanges Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. with the symbol "AVZ." Moore Capital Management Moore Capital Management Inc. is a New York-based private money management firm, which currently manages over $9 billion in assets. The firm and its affiliates have offices in London, Tokyo and Washington, D.C. SunAmerica Ventures SunAmerica Ventures is a $750 million information technology venture fund. The fund invests in communications, e-commerce and e-business-enabling companies. The fund is part of SunAmerica Inc., a Los Angeles-based diversified financial services company. SunAmerica Inc. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (NYSE:AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ). AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. About Venrock Associates Venrock Associates was founded as the venture capital arm of the Rockefeller Family and continues a tradition of funding entrepreneurs that now spans over six decades. Laurance S. Rockefeller pioneered early stage venture financing in the 1930s. As one of the oldest venture firms in the United States, Venrock maintains a tradition of collaboration with talented entrepreneurs to establish successful, enduring companies. Venrock activities have focused on early stage companies in Information Technology with investments in Intel, Apple, Stratacom, Check Point Software, Visual Networks and DoubleClick as well as in Healthcare with the funding of companies such as Genetics Institute, Millennium Pharmaceuticals, Oratec Interventions and Caliper caliper Instrument that consists of two adjustable legs or jaws for measuring the dimensions of material parts. Spring calipers have an adjusting screw and nut; firm-joint calipers use friction at the joint to hold the legs unmoving. Technologies. |
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