BoostWorks Secures Second Round of Financing with $7 Million of New Capital; Banque Nationale de Paris and Cross Atlantic Ventures Heads-up Group of New Investors.SAN FRANCISCO--(BUSINESS WIRE)--July 26 1999-- BoostWorks, formerly Synchronix Software, today announced that it has obtained $7 million in new private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . BoostWorks is the leading provider of intelligent network acceleration solutions for mission-critical Client/Server, Web, and legacy environments. The investments will help fuel its aggressive growth in the Internet application acceleration market. New investors include the Banque Nationale Banque Nationale (French: "National bank") may refer to:
"Investors recognized that BoostWorks is uniquely positioned to become a dominant player in the market for Internet application acceleration solutions -- a market that has been growing exponentially. This investment round will support the aggressive growth of our distribution channels and the BoostWorks product line," said Serge Cuesta cuesta (kwĕs`tə), asymmetric ridge characterized by a short, steep escarpment on one side, and a long, gentle slope on the other. The steep side exposes the edge of erosion-resistant rock layers that form the cuestas. , Founder and Chairman of BoostWorks. "We believe that BoostWorks is well-positioned to capture significant market share in the Internet application acceleration market. BoostWorks offers various solutions that are well sought out by companies with Web-based applications See Web application. and by Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISPs)," said Jean-Luc Archambault, Executive Vice President, BNP Private Equity, and newly appointed board member of BoostWorks. "Ultimately we believe the BoostWorks solutions will also reach consumer markets." The additional funding will be used to increase BoostWorks' momentum, fuel its global expansion efforts through strategic partnerships, and the opening of additional offices worldwide. About the investors: The Banque Nationale de Paris is one of Europe's largest banks, with assets of over US$300 billion and a presence in over 80 countries worldwide. It has a 25-year and $1.5 billion cumulated experience in private equity investments. Since 1998, the bank has been moving towards the creation of funds sponsored by BNP, among which the US$150 million BNP Europe Telecom & Media Fund II, currently being formed. Cross Atlantic Ventures manages a US$15 million fund dedicated to investments in France, Israel and 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. . Its primary mission is to help networking and Internet start-ups enter the international marketplace. Innovacom, France Telecom's venture capital subsidiary, manages shareholder investments totaling over US$100 million distributed across several funds. Partech International manages over US$200 million in venture capital and US$150 million in mezzanine financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the investments, with a very strong emphasis on international investments. Sofinnova Partners, a French leader in venture capital funding, has offices in the United States, France and Asia. Pierre Barberis, a private investor, holds investments in new information and communication technology companies. About BoostWorks: BoostWorks was founded in France in 1989. It provides intelligent network acceleration solutions for boosting the performance of applications in Internet, intranet, extranet, Client/Server and legacy environments. BoostWorks is privately held and is headquartered in Paris. It manages its North American operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. from San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , and maintains a branch office in Morris Plains, N.J. BoostWeb Enterprise(TM), the company's Internet solution, won a BEST OF SHOW AWARD at N+I, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , in May 1999, and was recognized as one of the top ten Web accelerators by PC World in December 1998. For further information, visit the BoostWorks website at www.boostworks.com. Note to Editors: BoostSQL, BoostWeb, and BoostVT are trademarks of BoostWorks. All other trademarks or registered trademarks are property of their respective companies. |
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