CommerceRoute Receives Funding from Intel, Closing $21 Million Round; Data Integration Solutions Provider Teams with Intel to Develop E-commerce Products and Services.Business Editors/High-Tech Writers EMERYVILLE, Calif.--(BUSINESS WIRE)--Jan. 8, 2001 CommerceRoute, a leading provider of simplified data integration hardware solutions, today announced an investment from Intel Capital that caps the company's third round of private equity financing and brings the total for the round to $21 million. Previously announced investors in the round include CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) @Ventures, Kohlberg Kravis Roberts Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. It was founded in 1976 by Jerome Kohlberg, Jr., and cousins Henry Kravis and George R. & Co. and JGE JGE Jump If Greater or Equal Capital Management. "Intel Capital's investment in CommerceRoute will help accelerate our technology development and product marketing as we launch an exciting new product category for data and application integration," said Erickson Shirley, 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. , CommerceRoute. "We plan to work closely with Intel to develop products that address key integration and e-commerce implementation issues facing today's business decision-makers and IT managers." In addition, CommerceRoute will join the Business Internet Consortium, an industry think-tank formed by Intel and other e-business industry leaders to address growing e-business implementation challenges. The consortium aims to bring customer and vendor e-business technology priorities closer together and will serve as a global industry group to advocate the e-business architectural directions and the basis for future e-business Internet development. Other charter members of consortium include Compaq Computer Corporation (company) Compaq Computer Corporation - The largest US manufacturer and vendor of IBM PC compatible personal computers and servers. Compaq was started in 1982 by three ex-Texas Instruments employees. Quarterly sales $2499M, profits $210M (Aug 1994). http://compaq.com/. , Computer Associates International, Inc., Dell Computer Corporation (company) Dell Computer Corporation - One of the biggest US manufacturers of IBM PC compatibles. "From notebooks to networks", their slogan says. http://us.dell.com. , Hewlett-Packard Company, 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) Corporation, Microsoft Corporation and SAP. Forrester Research projects the worldwide integration market will reach $20 billion by 2003. CommerceRoute's integration solutions enable organizations to quickly and easily exchange information and execute transactions among internal departments and with external business partners, regardless of platform or protocol. About CommerceRoute CommerceRoute, Inc. is the leading provider of simplified data integration hardware solutions. The company develops products that enable any organization to quickly and easily exchange information and execute transactions between departments, business partners and vendors via the Internet. Its products offer companies of all sizes the business benefits of integration without costly, time-consuming enterprise-wide implementations or cumbersome, hardcoded connections. The company's customers include Boeing, Ernst & Young and the State of California. CommerceRoute is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. backed by 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] and corporate investors including CMGI @Ventures, Kohlberg Kravis Roberts & Co. and JGE Capital Management. For more information about CommerceRoute, visit www.commerceroute.com. About Intel Capital Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. For more information, please see www.intel.com/capital. |
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