Commtouch Announces Completion of its Investment Round.Business Editors/High-Tech Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--April 22, 2002 Commtouch (Nasdaq:CTCH CTCH Common Traffic Channel ), a vendor of highly scalable messaging solutions to service providers, announced today that it successfully completed the previously announced investment round. The total amount raised in this round was approximately 1.3M$ at a price of $.29 per share. Gideon Mantel, 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. , commented, "We are pleased that we managed to secure this investment, and it is a testament to the potential we see for the Company's future. It is important to note that this is an integral part of a long-term strategic plan. In addition, we have minimized our cash burn, and we have released the new version of our messaging platform, which provides significant enhancements to service providers in their use of email." Mantel added, "We welcome the recent trend, pioneered by Microsoft and Yahoo!, to charge for advanced email services See Internet e-mail service. . We believe that other service providers and portals will follow this trend and, as a result, will need to purchase advanced messaging platforms, such as the one offered by us. It already has benefited our pipeline with some promising prospects." The Company has recently hired several new sales representatives for Europe and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , who have a strong background in the messaging space. The Company anticipates first significant sales of its new messaging platform during the third quarter of this year. About Commtouch Commtouch Software Ltd. is the developer and provider of comprehensive and highly scalable messaging solutions through its Commtouch Messaging Platform (CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information ) for service providers such as ISPs, ASPs, Data Centers, Telcos and Wireless Operators. The CMP offers service providers an opportunity to increase revenue from their business and residential subscribers utilizing CMP's advanced messaging services, which can be deployed and managed easily and quickly. The Company's core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. since 1999 (Nasdaq:CTCH). To learn how Commtouch solutions are designed to meet service providers' messaging and collaboration needs, visit our Web site at http://www.commtouch.com. Note to Editors: Microsoft(R) is a registered trademark of Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, . Yahoo!(R) is a registered trademark of Yahoo! Inc. Commtouch(R) is a registered trademark of Commtouch Software Ltd. Other terms and product names in this document may be trademarks of others. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including projections about our business, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense future tense n. A verb tense expressing future time. Noun 1. future tense - a verb tense that expresses actions or states in the future future , and statements including words such as "expect," "plan," "estimate," anticipate," or "believe" are forward-looking statements. These statements are based on information available to us at the time of the release; we assume no obligation to update any of them. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including business conditions and growth or deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. in the Internet market, commerce and the general economy both domestic as well as international; fewer than expected new-partner relationships; competitive factors including pricing pressures; technological developments, and products offered by competitors; availability of qualified staff for expansion; and technological difficulties and resource constraints encountered in developing new products as well as those risks described in the Company's Annual Reports on Form 20-F and reports on Form 6-K, which are available through www.sec.gov. |
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