Applied Science Fiction Issues $55 Million in Series E Funding.Business & Technology Editors AUSTIN, Texas--(BUSINESS WIRE)--April 18, 2001 Rho Ventures Leads Recent Round of Venture Capital Funding to Help Fuel Accelerated Development of New Digital Imaging Technologies Applied Science Fiction (ASF See Windows Media formats. 1. (language) ASF - Algebraic Specification Language. 2. (body) ASF - Analytical Solutions Forum. (TM)), creator of the award-winning Digital ICE(TM) technology, the leader of automatic photo restoration technology and the inventor of the cutting-edge digital dry film processing (Digital PIC(TM)), announced today that it has issued $55 million in Series E Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Rho Ventures led the financing with additional investors, including IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Star Ventures, TIAA-CREF TIAA-CREF Teachers Insurance and Annuity Association - College Retirement Equities Fund and Lago Ventures. Previous investors CenterPoint Ventures, Technology Crossover Ventures (TCV TCV Total Contract Value TCV Tokyo City View TCV Treasury Corporation of Victoria (Australia) TCV Temperature Control Valve (Industrial control description) TCV Total Containment Vessel ), Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , InterWest Partners, Amerindo Investment Advisors, J. & W. Seligman & Co., and Triton Ventures also participated in the financing. This current round of funding will be used for ASF's next generation product development and product roll out. "We are delighted to have the strong vote of confidence from our investors," said Dan Sullivan For other uses, see Dan Sullivan (disambiguation). Daniel "Dan" Sullivan was a fictional character in the popular BBC soap Opera EastEnders. He was played by Craig Fairbrass. , 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 Applied Science Fiction. "This funding will finance the introduction of our revolutionary Digital PIC dry film processing system as well as the launch of new photo restoration technologies." "Applied Science Fiction's technologies have changed the face of the photo industry by applying innovative technology to accelerate the move to digital imaging," said Joshua Ruch, managing partner of Rho Ventures. "Clearly, Applied Science Fiction's revolutionary technologies, combined with its seasoned management, talented scientists and dedicated personnel, provide an exciting and unique opportunity to invest." In addition to completing this round of funding, ASF will add Joshua Ruch to its Board of Directors, led by Chairman of the Board Peter Palermo. About Applied Science Fiction Applied Science Fiction develops proprietary technologies for the imaging industry that link traditional photography with the digital age. ASF licenses its branded technologies through Original Equipment Manufacturers (OEMs) that provide products for the professional and consumer imaging markets. In addition to the Digital ICE3(TM) suite, Digital ICE(TM), Digital ROC(TM) and Digital GEM(TM), the individual components of the suite, and Digital ICE and Digital ROC for flatbed scanners, ASF is also the innovator in digital dry film processing, with its environmentally friendly Digital PIC(TM) technology. Digital PIC develops exposed film directly into a high-resolution RGB (Red Green Blue) The computer's native color space, which is the color system for capturing and displaying images. RGB was derived from our own perception of color because human eyes are sensitive to red, green and blue (see trichromaticity). digital format file in minutes. Digital PIC produces an Extended Range Digital Negative(TM) (XRDN(TM)) on a CD from which photographic quality images can be easily printed. More information can be found on ASF's Web site at www.asf.com. Digital ICE, Digital ROC, Digital GEM, Digital ICE3, Digital PIC, Extended Range Digital Negative, XRDN, ASF and Applied Science Fiction are trademarks of Applied Science Fiction, Inc. All other trade names, trademarks and registered trademarks are the property of their respective owners. |
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