AppGate Closes Third Round of Financing with $10 Million From GE Equity.Business Editors RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C.--(BUSINESS WIRE)--Jan. 3, 2001 AppGate(TM) Inc., a provider of policy-based security solutions, announced a $10 million investment from GE Equity the private equity arm of General Electric Co (NYSE NYSE See: New York Stock Exchange :GE), and ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) . These funds will provide AppGate with escalated growth in marketing, sales and product development in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "Having the valuable participation of this internationally recognized investor heightens our ability to move to the forefront of the IT security industry," said Dennis Szerszen, President of AppGate, Inc. "There is a tremendous need for access management solutions and we are determined to take the leadership position in this growing market." "As the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the becomes an increasingly integral part of business, the area of IT security will continue to grow in importance," said Sherwood Dodge, Managing Director of GE Equity. "AppGate provides a high quality solution in this area." AppGate has developed an application access control system to manage individual access to specific information. AppGate's policy-based software controls all authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: traffic and defines the access rules for each user. Users must prove their identity when requesting access to mission critical information or applications over a network. Previous investors include Innovationskapital, T-Venture, Pythagoras, Industrifinans, and CR&T. AppGate provides deep level computer and network security to large international companies. Their products have dramatically enhanced the way in which information is accessed, with the development of the first security solution beyond the firewall that allows designated users to specific applications and data. For more information please visit http://www.appgate.com. GE Equity is one of the leading providers of equity capital to growing companies. It has $1 billion a year available to invest in growth capital, replacement or secondary capital, buy-outs and buy-ins. GE Equity's European headquarters are in London, with offices in Milan, Warsaw Warsaw (wôr`sô), Pol. Warszawa, city (1993 est. pop. 1,655,700), capital of Poland and of Mazowieckie prov., central Poland, on both banks of the Vistula River. and Frankfurt. For more information: http://www.geequity.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion