Applications Infrastructure Provider Exenet Technologies Receives $35 Million in Private Equity Commitments.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 13, 2000 Leading AIP AIP acute intermittent porphyria. AIP Acute intermittent porphyria receives funding from Telecom Partners and CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Capital Partners Exenet Technologies, a leading Application Infrastructure Provider (AIP), announced today the closing of a $35 million equity commitment from investors Telecom Partners and CIBC Capital Partners. The financing allows Exenet to expand its "one-stop" outsourced infrastructure solution for Application Service Providers (ASPs), Independent Software Vendors (ISVs), Value Added Resellers (VARs), Regional Bell Operating Companies, Competitive Local Exchange Carriers and Fortune 2000 corporations. "The involvement of Telecom Partners and CIBC Capital Partners brings significant value to Exenet and will further accelerate our growth," said Sam Negahbani, Chief Executive Officer and President of Exenet Technologies. "We are pleased that these prestigious VCs have chosen to bring their resources and experience to bear in strengthening Exenet's leading position." Exenet provides global IT outsourcing and AIP services, including directory services, management services (MSP (1) (Management Service Provider or Managed Service Provider) An organization that manages a customer's computer systems and networks which are either located on the customer's premises or at a third-party datacenter. ), storage services (SSP (1) (Service Switching Point) The local exchange node in an SS7 telephone network. The SSP can be part of the voice switch or in a separate computer connected to it. ), database management and bandwidth provisioning services. Through this comprehensive package of best-of-breed infrastructure products and services, the Exenet platform allows clients to dramatically reduce expenses, easily enhance their network and systems reliability, rapidly implement sophisticated next-generation technologies such as business-to-business trading exchanges, and streamline the delivery of applications and services to customers, employees and vendors. "Exenet will play a pivotal role in the adoption of the outsourced IT function and ASP-delivery model by major companies worldwide," said William Elsner, Managing Partner at Telecom Partners. "Having been an AIP pioneer, Exenet has all the elements of a winner." As a pioneer in the AIP industry, Exenet has already inked a series of high-profile partnerships with leading technology providers. It is the first global Cisco Power Network-certified AIP, an EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. Proven Tier 4 E-Infostructure partner, a premier Computer Associates MSP partner and the only AIP partner for Ingram Micro's ASP offering. "This funding reaffirms Exenet's leading position in the emerging corporate IT outsourcing and AIP space," said Richard White Richard White is the name of:
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. reliable, efficient and secure technologically advanced outsourced IT solutions." About Exenet Technologies Based 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 , Exenet Technologies, Inc. (www.exenet.com) is an Application Infrastructure Provider (AIP) that provides its clients tightly integrated managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality , storage, directory and database services, as well as superior application hosting, global support, ultra-secure networks and universal access. Exenet furnishes and manages all the mission-critical technology to keep applications running reliably and efficiently at an unmatched level of accountability and service. Exenet's strategic partnerships with Cisco, EMC, Computer Associates, Citrix, Level(3), Network Associates and Novell, among others, allow the company to leverage best-of-breed solutions on behalf of its customers. About Telecom Partners Telecom Partners, based in Denver, Colorado, is a leading venture capital firm focusing on seed and early-stage investments in service providers in the 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. . The firm is focused on building large-scale companies that are leaders in the areas of broadband last-mile services, Internet applications and infrastructure, and wireless networks in both domestic and international markets. Telecom Partners is managed by Stephen W. Schovee and William J. Elsner, both seasoned entrepreneurs in raising capital and in starting and building communications businesses. Telecom Partners' portfolio companies have raised over $6 billion in capital in less than five years to support their rapid growth. About CIBC Capital Partners CIBC Capital Partners is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. merchant bank and part of CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. , Canadian Imperial Bank of Commerce's investment bank. CIBC Capital Partners has directly invested in over 300 companies and in approximately 125 private equity funds around the world composed of over 1,000 companies, with total commitments in excess of $5 billion. CIBC Capital Partners' merchant banking activities include private equity investments in venture capital, leveraged buyouts and other special situations. CIBC Capital Partners' venture capital investments are primarily focused on the telecommunications, technology and health care industries. Merchant banking professionals are located in New York, Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. and Toronto. |
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