AppGate Secures $2.5 Million Investment to Fund Strategic Growth Initiatives.Business Editors AppGate(TM), leading the application layer VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. market with the most advanced "plug-and-play" VPN solutions, today announced it has secured $2.5 million in additional funding. Led by ABN AMRO Capital and GE Equity, the new financial assets Financial assets Claims on real assets. will be used to focus efforts in sales and expand AppGate's services in concentrated technological locations to take advantage of what Infonetics Research, Inc. projects as an $871 million worldwide market for application-layer VPNs by 2005. "This investment fuels our newly announced plans to further extend our global reach and support as AppGate positions itself to service the growing, worldwide market," said Samuel Simonsson, Chairman of the Board, AppGate. Recently announced, AppGate is fortifying its worldwide stronghold with the evolution of its Durham, North Carolina Durham is a city in the U.S. state of North Carolina. It is the county seat of Durham CountyGR6 and is the fourth-largest city in the state by population. , Gothenburg, Sweden and London offices into Centers of Excellence for sales and support. The company's latest infusion also funds AppGate's launch of two new sales offices in France and Germany--additional locations extending the company's global reach. "ABN AMRO Capital's add-on investment in AppGate reflects the bank's continued interest in the IT sector, and AppGate in particular," said Johan Bjurstrom, Managing Director of ABN AMRO. "We see AppGate as a leader in its area, and expect the company to capture a significant part of the growing e-security market. To achieve this, AppGate requires presence in markets where knowledge, visibility and key customers come together." The $2.5 million finance round, led by ABN AMRO Capital and GE Equity, also included investments from, Pythagoras Participations cvba., Bure Equity AB and InnovationsKapital, all previous investors in the company. "We have done a lot of work both organizationally as well as from a product development standpoint. We are pleased that our investors are strongly backing us and have given us the green light to take advantage of the growing marketplace," said Alfred Moresi, 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 AppGate. Since its inception, AppGate's VPN technology has offered an application-layer VPN product delivering high-level security within a legacy network as well as outside the network (remote or Web access). Most recently, AppGate launched its Junis(TM) PowerBox and Fortimus(TM) PowerBox models for small to medium and large enterprises respectively. The new PowerBox models offer an enhanced "out-of-the-box" solution that now includes such functionalities as Secure Print, expanded clustering capabilities, greater ease of management and AppGate's Protis(TM) Personal Firewall. About AppGate AppGate is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that designs and manufactures e-security software and hardware network solutions for small to large enterprises. AppGate provides the most powerful and advanced VPN solutions that offer enterprises an end-to-end secure pipeline for both internal and external access and authentication to applications and data. Highly scalable and flexible, AppGate's technology easily integrates with any system or operating environment. Major products include the AppGate VPN, AppGate Junis(TM) PowerBox(TM) Models, AppGate Fortimus(TM) PowerBox Models, Protis(TM) Personal Firewall and MindTerm SSH (Secure SHell) A security protocol for logging into a remote server. SSH provides an encrypted session for transferring files and executing server programs. Also serving as a secure client/server connection for applications such as database access and e-mail, SSH supports a client for OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and users. With worldwide headquarters in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. and European headquarters in Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. , Switzerland, AppGate also holds major offices in Durham, North Carolina, London, England and Gothenburg, Sweden. We take e-security further into your enterprise. For more information please visit http://www.appgate.com/. About ABN AMRO Capital ABN AMRO Capital is the international private equity business and 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 ABN AMRO, one of the world's largest banks with total assets of more than USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 500 billion and more than 3,500 locations in 70 countries and territories. ABN AMRO Capital provides private equity across an international network of 120 investment managers located in 12 countries, with proprietary offices based across Europe and in the United States, Latin America and Australia. For more information: http://www.abnamro.com About GE Equity GE Equity is one of the leading providers of equity capital to growing companies. It invests in growth capital, replacement or secondary capital, buy-outs and buy-ins. GE Equity's European headquarters are in London, with offices in Milan and Frankfurt. For more information: http://www.geequity.com. About Pythagoras Participations cvba. Pythagoras Participations cvba. is a fund and participation company, which offers a platform for stakeholders to invest in start-up and high-growth potential ventures. The partners of Pythagoras n.v. have experience in running businesses in the software and IT industries, as well as expertise as investment bankers and venture capitalists. Further information about Pythagoras Participations is available on their website at: www.pythagoras.be. About Bure Equity AB Bure is a growth and knowledge company within private equity. The business objective as an active owner is to contribute capital and competence to create high growth in value for the shareholders. Bure invests mainly in unlisted companies within Telecom, IT, Media and e-Knowledge. www.bure.se About InnovationsKapital InnovationsKapital was founded in 1994 and is today one of Sweden's leading early stage venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] for innovative growth companies. The business, carried out from offices in Gothenburg and Stockholm, is focused on Nordic investments within ICT (1) (Information and Communications Technology) An umbrella term for the information technology field. See IT. (2) (International Computers and Tabulators) See ICL. 1. (testing) ICT - In Circuit Test. and Healthcare & Life Sciences - dynamic sectors that are rapidly expanding and where Nordic research plays a leading role. Total capital is SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.7 billion, maintained in three funds with renowned Swedish and international institutions as investors. www.innkap.se |
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