BackWeb Receives $20 Million in New Financing; GE Pension Trust, Intel, Merrill Lynch, Nippon Investment and Finance/Daiwa Invest.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--July 28, 1998--BackWeb Technologies, the leading provider of knowledge distribution software solutions for the enterprise, today announced the closing of a $20 million private placement. BackWeb investors include GE Pension Trust, Intel Corporation (company) Intel Corporation - A US microelectronics manufacturer. They produced the Intel 4004, Intel 8080, Intel 8086, Intel 80186, Intel 80286, Intel 80386, Intel 486 and Pentium microprocessor families as well as many other integrated circuits and personal computer networking , Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , Nippon Investment and Finance/Daiwa, and CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Valeurs de Croissance. BackWeb will use the funds to expand domestic and international sales and marketing operations. BackWeb will also use the funds to expand its professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. operation in order to provide expertise to customers and extend the impact of its products. This includes the award-winning product, BackWeb Infocenter 4.0, introduced last December, which recently won the Analyst's Choice Award from PC Week and the Stellar Award from Windows Sources Windows Sources was a magazine by ZDNet. It lasted from c. 1993 – c. 2001. Staff Patrick Norton ran the hardware reviews section. Carlos Carrillo was the Assistant Editor and ran the Shareware reviews section. . "Our success to date has been based on our uniquely differentiated business model and our focus on critical enterprise applications, supported by a number of innovations," said Eli Barkat, BackWeb's chief executive officer. "Those innovations include our Polite(tm) distribution technology which allows large packages of digital information to be delivered to users while avoiding network traffic problems." All previous major BackWeb investors re-invested, including lead investor GS Capital Partners II, an affiliate of the Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Group, L.P.; BRM BRM biologic response modifier. BRM Biological response modifier, see there Technologies, Ltd.; SOFTBANK Holdings; Trinity Ventures; D.S D.S Drainage Structure (flood protection) . Polaris; and Evergreen International This article is about a non-profit organization. For the aviation company see Evergreen International Aviation Evergreen International, Inc. is a non-profit organization located in Salt Lake City, Utah, whose stated mission is to assist "people who want to diminish same-sex Investments. "BackWeb's solution is an excellent match for a market with great potential," said David Weiderecht, Vice President, GE Investments, the investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to GE Pension Trust. "As demand for enterprise knowledge distribution gains momentum, BackWeb is well positioned to take advantage of those growth opportunities." "Intel supports a vision of 'constant computing' that gives users a more natural and productive work style by providing just-in-time information on existing network infrastructure in enterprises," said Sally Fundakowski, Intel's Director of Business Developer Relations Group. "BackWeb's software is an example of such a technology that makes effective and productive use of system and network resources behind the scenes and provides significant advantages to the enterprise customer." "Our ability to make our customers like Schlumberger successful and give them a true competitive advantage is key to maintaining our continued growth," said Barkat. "BackWeb's success in providing industry leading customers return on investment and successful scalable deployments is significantly expanding the market demand for knowledge distribution." More than 250 corporations throughout the world have deployed BackWeb applications across hundreds of thousands of desktops in their intranets and extranets to get the right information to the right people at the right time. In the first half of fiscal 1998, BackWeb's revenues increased 260 percent over the same period last year. BackWeb customers include Rite Aid Rite Aid (NYSE: RAD) is a United States retailer and pharmacy chain, operating over 5,000 stores in 31 states and the District of Columbia. Rite Aid Corporation is one of the nation's leading drugstore chains. , The National Institutes of Health, Compaq, Network Associates, Intel, and Computer Associates. BackWeb has strategic partnerships with Microsoft, Computer Associates, NewsEdge, and Hewlett Packard. The BackWeb Infocenter BackWeb Technologies announced the BackWeb Infocenter 4.2, a client/server knowledge distribution application in June. BackWeb gives corporations using this product the ability to quickly create customized knowledge distribution applications for critical information delivery within their intranets and extranets. The BackWeb InfoCenter 4.2 customizable application enables corporations to ensure that everyone is current with the latest changes in critical software, information, files and videos, Politely without affecting the network. Both local and remote users receive content as defined by the designated controllers using the condition based targeting system, customizable Infocenter, policy based A decision made by any software application that is based on the policy (rules and regulations) of the organization. See policy and COPS. publishing package, and programmable connectors. BackWeb's Polite distribution technology provides truly scalable, guaranteed delivery of any size electronic package directly to users' desktops and ensures virtually no impact on corporate networks. The Polite technology achieves this by downloading information in the background while a user is working and only using the bandwidth that is available. BackWeb's Polite technology is ideal for remote and dial-up users who often have slower Internet connections, with discreet dis·creet adj. 1. Marked by, exercising, or showing prudence and wise self-restraint in speech and behavior; circumspect. 2. Free from ostentation or pretension; modest. bandwidth availability and who frequently experience Internet service interruptions. It provides differential and interruptible downloads of compressed, byte-level packets, distributing only bytes that contain new information. If a download is interrupted in·ter·rupt v. in·ter·rupt·ed, in·ter·rupt·ing, in·ter·rupts v.tr. 1. To break the continuity or uniformity of: Rain interrupted our baseball game. 2. BackWeb simply picks-up the download at the same byte where it left-off when the connection is re-established. BackWeb's attention capture technology allows corporate managers to create a tunnel of critical information that breaks through the noise within the enterprise today and attracts users' attention. BackWeb enable managers to control and set publishing policies as well as make use of multimedia alerts and tickers to draw user attention to critical information. About BackWeb Technologies, Inc. BackWeb Technologies is the leading provider of comprehensive, automated Knowledge Distribution Solutions for intranets and extranets. BackWeb focuses on empowering enterprises by delivering knowledge enabling information, in ways that will capture your attention. This specific technology enables content delivery of any size or format, without impact on your network. The results are increased speed of innovation, fully informed decision making, and enhanced competitiveness. Corporations are currently using BackWeb's Knowledge and Information Distribution solutions for critical areas such as communications to Sales, Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , year 2000 PC updates and software distribution, electronic commerce, competitive intelligence, extranet communication to partners, branches, and customers for leading edge customer service. More than 250 corporations are using BackWeb's products world wide. For more information about BackWeb visit http://www.backweb.com or call 1-800-863-0100.
CONTACT: BackWeb Technologies
Sheila Paul, 408/933-1769
sheila@backweb.com
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