Canopy Invests $3.9 Million in Solera Networks; Network Forensics Leader Poised for New Growth with Venture Fund Support.LINDON, Utah Lindon is a city in Utah County, Utah, United States. The population was 8,363 at the 2000 census. By 2004 its population had been estimated to increase slightly to 8,489. Geography Lindon is located at (40.338552, -111. -- Canopy Ventures announced today that it has made a $3.9 million Series B 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. investment in Solera A solera is a series of barrels or other containers used for aging liquids such as Sherry, Madeira, Marsala, Mavrodafni (a dark-red fortified dessert wine from Greece), Muscat, Muscadelle, Balsamic and Sherry Vinegars. Networks of Lindon, Utah. This is the first investment led by Canopy Ventures' new management team, and the first investment outside of Canopy's current portfolio in two years. Solera Networks provides network monitoring The term network monitoring describes the use of a system that constantly monitors a computer network for slow or failing systems and that notifies the network administrator in case of outages via email, pager or other alarms. solutions that collect and store massive amounts of network data for mission-critical performance analysis and forensics See computer forensics. . With storage of up to 128 terabytes, Solera's network appliances (1) A specialized device for use on a network. For example, Web servers, cache servers and file servers can be implemented as general-purpose computers with the appropriate software or as network appliances, which are computers dedicated to a single function and cannot do anything can store several weeks' worth of detailed information about every packet transmitted in, out or across a large, high-speed network. The company markets its products primarily to the Network Management and Network Security Markets. "We are very pleased to have partnered with Solera Networks," said Ron Heinz, Managing Director of Canopy Ventures. "They have produced innovative technology in an extremely attractive market, and are poised for significant growth. This infusion of capital will allow Solera to accelerate product awareness and enhance an already compelling product line." "I have been fortunate to enjoy a longstanding relationship with Canopy," said Bryan Sparks, President and Chairman of Solera Networks. "When Ron and I began our discussions, we felt this was a perfect fit. We have developed a superb product and proven it with some highly sophisticated customers, and now is the time to start growing sales more rapidly. Canopy's investment will help make that happen." Canopy Ventures has played a key role in the development of major technology success stories including Altiris, MyFamily.com and Helius. Last month, Canopy announced the acquisition of MaxStream, one of its portfolio companies, by Digi International Digi International was founded in 1985 as DigiBoard and is headquartered in Minnetonka, Minnesota, USA. The company went public as Digi International in 1989 and is traded on the NASDAQ National Market under the symbol DGII. in a $38.5 million transaction. Solera Networks is currently headquartered in Lindon, Utah, and plans to expand its management and engineering teams in Utah. About Canopy Ventures Canopy Ventures is an early-stage venture capital firm targeting information technology companies in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . Its primary areas of focus include enterprise software, IP video technologies, networking and communications, security software, WI-FI broadcasting, IT hosting and software as a service. Its offices are in Lindon, Utah. More information may be found at http://www.canopy.com About Solera Networks Solera Networks is a privately-held company which provides network monitoring solutions designed to improve the quantity and quality of network data used for mission-critical performance analysis and forensics. Complete visibility with Solera Networks will speed diagnostics, provide accurate audits of all traffic flows, archive network knowledge for event correlation Event Correlation is the processes involved with reducing a large number of incident alerts to a much smaller, more manageable number within automated monitoring and incident/problem management in a Support Management System. , and enable reconstruction of historic events with full data integrity. The rack-mountable Solera DS Series appliances are available in several configurations, differing in bandwidth and storage capacity. Detailed information can be found at http://www.soleranetworks.com/ |
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