Ameritech Makes Strategic Investment in BroadVision; BroadVision's Start-Up Financing Totals $10 Million To Date.LOS ALTOS Los Altos (lôs ăl`tōs, lŏs), residential city (1990 pop. 26,303), Santa Clara co., W Calif.; inc. 1952. There is diversified light manufacturing. , Calif.--(BUSINESS WIRE)--Sept. 5, 1995--BroadVision Inc., a pioneering provider of Interactive Commerce Management Systems (ICMS ICMS Imposto Sobre Circulação de Mercadorias e Serviços (Brazilian excise tax) ICMS International Centre for Mathematical Sciences ICMS International Committee for Museum Security ICMS Integrated Customer Management System ), today announced the completion of its third round of financing with an investment from Chicago-based Ameritech Corporation, a major regional Bell operating company The Regional Bell Operating Companies (RBOC) are the result of the U.S. Department of Justice antitrust suit against American Telephone & Telegraph. History . This brings the total financing investment in the company to $10 million. As a result of today's announcement, Ameritech has made an investment of an undisclosed amount in BroadVision's Series-C financing. With this investment, Ameritech joins Itochu Corporation of Tokyo, Japan and the Olivetti Group of Ivrea, Italy as BroadVision's strategic corporate investors. BroadVision's institutional venture capital investors include Sutter Hill Ventures, Mayfield Fund Mayfield Fund is a venture capital firm located on Sand Hill Road in Menlo Park, California, home to many of Silicon Valley's leading venture capital firms. Mayfield was founded in 1969 by Tommy Davis, one of the first venture capitalists. and Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. Management Fund. Further details on BroadVision's specific business development efforts with Ameritech will be announced at a later date. "Ameritech's investment in BroadVision will ensure early success with the upcoming deployment of our solution on a wide variety of interactive service and electronic commerce platforms," said Dr. Pehong Chen, 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 BroadVision. BroadVision's ICMS product provides an integrated suite of software tools and subsystems designed to facilitate the deployment of interactive services, electronic commerce, and online marketing and sales over a wide variety of interactive network platforms including the Internet, consumer online services (i.e. America Online See AOL. , CompuServe, Prodigy, Microsoft Network, etc.), broadband interactive cable TV networks and direct broadcast satellite (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) networks. "BroadVision offers leading-edge online marketing and transaction processing capabilities," said W. Patrick Campbell, Ameritech executive vice president of corporate strategy and business development. "We're exploring how we may be able to use these software products to create interactive video and electronic commerce services that are simple and easy to use for our customers." BroadVision can support a variety of services such as education, health care, travel, shopping and games, without meddling med·dle intr.v. med·dled, med·dling, med·dles 1. To intrude into other people's affairs or business; interfere. See Synonyms at interfere. 2. To handle something idly or ignorantly; tamper. with the content's "look and feel." According to Cathleen A. Asch, president of Ameritech's Electronic Commerce division, one of the real strengths of BroadVision's ICMS technology is its platform-independence. It can support interactive service requirements and electronic commerce functions just as easily over interactive TV or Internet platforms. "BroadVision's support for all of these applications makes their accessibility network independent, and therefore more ubiquitous," Asch added. About Ameritech Ameritech, one of the world's largest communications companies, helps more than 13 million customers keep in touch. The company provides a wide array of local phone, data and video services in Illinois, Indiana, Michigan, Ohio and Wisconsin. Ameritech is creating dozens of new information, entertainment and interactive services for homes, businesses and governments around the world. Nearly one million investors hold Ameritech (NYSE NYSE See: New York Stock Exchange : AIT) shares. Ameritech is investing $4.4 billion to build a new two-way video communications network and plans to reach 6 million midwestern homes by 2001. The company has created a joint venture with The Walt Disney Company, BellSouth GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) and 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. Communications to create video programming and interactive services that can be offered via Ameritech's new network. About BroadVision BroadVision Inc. is developing software systems that accelerate the development and deployment of interactive services and electronic commerce on the Internet, consumer online services, broadband interactive cable TV networks and direct broadcast satellite (DBS) networks. BroadVision's ICMS product line is designed to facilitate the development and management of interactive services of all kinds, including support for complete end-to-end electronic commerce activities such as online marketing, sales, and order/transaction processing, in a secure and scaleable manner. The company is headquartered in Los Altos, Calif., and currently has approximately 40 employees. BroadVision can be located on the Internet at "http://www.broadvision.com/". -0- NOTE TO EDITORS: BroadVision is a trademark of BroadVision Inc. CONTACT: BroadVision Stephen Gomez, 415/943-3603 sgomez@broadvision.com or The Horn Group Michael Teeling, 415/579-6400 michael@horngroup.com or Ameritech Corp. Dave Onak, 312/526-8095 dave.onak@ameritech.com |
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