ClientSoft Announces Investment by Spencer Trask.TARRYTOWN, N.Y.--(BUSINESS WIRE)--August 3, 1998-- Leader In Legacy Extension Marketplace Extends Reach ClientSoft Inc., the leader in the Legacy Extension marketplace-- providing Web enablement and client/server solutions to corporations with IBM mainframe IBM mainframes, though perceived as synonymous with mainframe computers in general due to their marketshare, are now technically and specifically IBM's line of business computers that can all trace their design evolution to the IBM System/360. and AS/400 systems and leveraging the skills of the end-user-- announced today a strategic business alliance with Spencer Trask Spencer Trask was an American financier, philanthropist, and venture capitalist. Beginning in the 1870s, Trask began investing and supporting entrepreneurs, including Thomas Edison's invention of the electric light bulb. , one of Wall Street's leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] . Known for its visionary foresight, Spencer Trask believes that with its expertise in the financial markets and ClientSoft's expertise in the IT market, the companies will be able extend their reach globally. "Computer industry growth has been explosive over the past few years, and technology is evolving just as quickly. And, because many organizations maintain legacy mainframe and AS/400 systems, they are looking for Looking for 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. solutions to help their applications become Web-enabled," explained Kevin Kimberlin Kevin Kimberlin is a successful entrepreneur and current chairman of Spencer Trask & Co., a New York-based private equity and venture capital firm originally founded by Spencer Trask, the financier who backed Thomas Edison. , Chairman of Spencer Trask. "Our main objective was to find and back the leading company within this field. And, by investing in ClientSoft, we have done just that-- as the company has clearly demonstrated its ability to deliver high-quality solutions to some of the most demanding clients in the Fortune 1000 to date." ClientSoft has been providing companies and organizations with software solutions focusing on the Year 2000 Transition, Web enablement of legacy applications and terminal emulator replacement. Annually, these three industry categories are a combined $1.5 billion market. "Our customers have earned the right to expect the best -solutions that work internally and externally," stated Scott C. Nevins, 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. , ClientSoft Inc. "Although companies have spent billions of dollars on building solid infrastructures of host-based, real-time applications, this doesn't mean that they should spend the same time and money replacing these applications. ClientSoft offers a better solution." ClientSoft is a pioneer in the legacy extension marketplace-- developing and delivering innovative technologies since 1987. Its family of ClientBuilder development toolkits quickly, cost-effectively and reliably brirnet-- as well as ensuring that they are Y2K-ready. Spencer Trask Securities Inc. has earned a reputation 1881, financed Thomas Edison's electric light bulb and later financed Edison Electric Light Co., now knownnificant benefits for both parties. This partneientSoft Inc. Founded in 1987, ClientSith IBM mainframe and AS/400 systems and leverarsity, Goodyear, KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , Great American Insurancenc. (914) 631-5365 Toni-Raye Gizzo trgizzo@clientsoft.com or Media Contact: Geltzer & Company, Inc (212) 575-1976 Michael Feldman mfeldman@geltzerpr.com Serena Tesler stesler@geltzerpr.com KEYWORD: 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 INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED BANKING Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com |
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