Accipiter Solutions, Inc. Secures $2 Million Expansion Capital from Frontier Capital; Investment Follows Consistent Profitability and Impressive Revenue Growth in 2004.LONDON London, city, Canada London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826. & RALEIGH Raleigh (rôl`ē, räl`ē), city (1990 pop. 207,951), state capital, and seat of Wake co., central N.C.; the site was selected for the capital in 1788, and the city was laid out and inc. 1792. , N.C. -- Accipiter Solutions, Inc., an online advertising technology leader since 1996, today announced that it has secured a $2 million round of funding from Frontier Capital, a Charlotte, North Carolina-based private equity investment firm that specializes in providing expansion capital to high growth companies. This is the first round of venture capital for Accipiter since the management team regained control of the company from Engage Inc. in November 2002. As part of this investment, Frontier will accept two seats on Accipiter's board of directors. Accipiter plans to use the funding to hire additional personnel in sales, marketing, development and technical support, with 30% employee growth expected in 2005. Five positions are already open, with descriptions posted at http://www.accipiter.com/about/careers.php. Accipiter will also use the working capital to accelerate the development of new technologies and increase industry awareness throughout the year. "Accipiter possesses four key criteria that we look for in every investment - consistent growth and profitability, solid competitive differentiators, promising market dynamics and a strong management team," explained Michael Ramich, principal, Frontier Capital. "We have been extremely impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with what the company has accomplished with its available resources and are excited about working with the team to make strategic hires, deliver new technologies and create new market opportunities." Ramich also commented on the fact that Frontier has watched the online advertising industry evolve and mature, with "real companies (no longer just dot.coms) investing real money and experiencing real ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). using tools like those offered by Accipiter." The funding from Frontier follows on the heels of a strong year for Accipiter, with continued profitability and 40% revenue growth over 2003. With customers in more than 28 countries, over 49 billion ads are served each month using Accipiter innovations, including site-side (AdManager) and hosted (AdBureau) ad management solutions, as well as VIBE vibe n. Slang A vibration. Often used in the plural: a nostalgic vibe to the decor; a stranger who gave off bad vibes. [Short for vibration. , Accipiter's behavioral targeting Delivering ads based on a user's habits. If a customer registers with an e-commerce site to make a purchase, those sales along with the user's site navigation history are often stored and analyzed to make targeted offers the next time. solution. Accipiter also had a number of notable customer wins in 2004 including BoltBlue, ClickHype, E! Online, Freeserve, iMedia, Motricity, NineMSN, PostNewsweek Tech Media, SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. SMARTpages, Tiscali, UpMyStreet, and a number of other leading online publishers around the globe. A number of new partners also joined Accipiter's growing family of global online ad technology resellers including Argentina-based ClickExperts, Italy-based Market Solutions and Nordic-based Omnit AB. In addition, Accipiter further solidified so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. its position as the industry leader by introducing a series of white papers studying the evolution and future of online advertising management. Three white papers focusing on behavioral targeting, inventory management, and real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. advertising management are currently available in the Accipiter digital press kit at http://www.accipiter.com/news/digital_press_kit.php. "2004 was a tremendous year for Accipiter as we continued to experience growth and success on all fronts," explained Brian Handly, Accipiter 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. . "We are excited about putting this investment to use in our effort to meet the growing demand for our products and services and to continue to expand our offerings. About Frontier Capital Frontier Capital is a private equity investment firm that provides expansion capital to high growth service companies. Many of these companies utilize technology as a differentiator. They have a proven solution in the marketplace and need capital to accelerate growth. The firm is based in Charlotte, NC and invests throughout the Southeast and Mid-Atlantic regions. For additional information visit the Frontier Capital website at www.frontierfunds.com. About Accipiter Based in Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. and London, UK, Accipiter has been a pioneer and leading developer of online advertising solutions and services since 1996. With more than 350 customers worldwide, over 49 billion ads are served each month using Accipiter's technology. Accipiter executives strive to be industry thought leaders through work with the Internet Advertising Bureau The Internet Advertising Bureau (IAB) is a UK trade body created in 1997 to promote online advertising. It works across a range of areas, with internal bodies setting standards and best practices for a range of different online marketing techniques. and Online Publisher's Association. Accipiter offers a site-side ad management software solution, AdManager V7, and a hosted solution, AdBureau. Accipiter leads the industry with over six years of experience in implementing behavioral targeting technology, and recently introduced the new Visitor Information Behavioral behavioral pertaining to behavior. behavioral disorders see vice. behavioral seizure see psychomotor seizure. Engine (VIBE). For more information, please visit www.accipiter.com. AdManager, AdBureau, and VIBE are registered trademarks of Accipiter Solutions, Inc. All other company and product names may be trademarks or service marks of the company with which they are associated. |
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