Compatible Systems Corporation Raises $8 Million in Venture Round; Lazard Technology Partners and MF Private Capital Take Minority Stake in VPN Leader.BOULDER, Colo.--(BUSINESS WIRE)--Dec. 14, 1998--Compatible Systems Corporation today announced that it has raised $8 million in its second round of venture financing. Investors include Lazard Technology Partners, MF Private Capital, Inc. and Boulder Ventures. The proceeds will be used to aggressively develop and promote Compatible's Virtual Private Networking (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ) products. "The Virtual Private Network market is exploding. High-speed technologies such as Digital Subscriber Lines (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) and cable modems depend on VPNs to provide secure connections to corporate networks for telecommuters and remote offices," said Matt McConnell, 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. of Compatible Systems Corporation. "It says a lot about our business that we've been able to attract partners like Lazard Technology Partners and MF Private Capital." Compatible Systems Corporation provides a full line of standalone VPN Access Servers for enterprise and carrier applications. The company shipped its first VPN Access Server in July, 1997 and is the only vendor currently delivering second-generation VPN hardware and software to customers who are implementing VPNs for site-to-site communications and remote client connections. "The VPN market is the fastest growing segment of the networking business, and Compatible Systems has a substantial lead," said Russ Planitzer, managing principal of Lazard Technology Partners. "Compatible Systems was the only VPN vendor we found who supported multiple protocols like IPX (Internetwork Packet EXchange) The network layer protocol in the NetWare operating system. Similar to the IP layer in TCP/IP, it contains a network address and allows messages to be routed to a different network or subnet. and AppleTalk as well as TCP/IP TCP/IP in full Transmission Control Protocol/Internet Protocol Standard Internet communications protocols that allow digital computers to communicate over long distances. . In addition, they were the only ones who supported dial-in clients beyond just Windows 95/98/NT Refers to all 32-bit versions of Windows prior to Windows 2000. It implies Windows ME and Windows 2000. It specifically excludes Windows 3.x. See Windows. , like Linux and Mac." Planitzer, an internetworking industry veteran, was the first investor in Wellfleet, which later merged with Synoptics See Bay Networks. to become Bay Networks. "We spent a lot of time researching the VPN arena, and we were very impressed with Compatible Systems' technology and the breadth of their product line," said Dave Alpert, managing director of MF Capital, Inc. "Ranging from the industry's only 40,000-session carrier-class VPN gateway to the 64-session IntraPort 2, this product line reaches organizations of all sizes." MF Private Capital, Inc. is an investment banking firm that provides growth capital and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to emerging and middle-market companies. About Compatible Systems Compatible Systems Corporation is the industry leader in hardware-based VPN solutions for site-to-site and remote client connection networking. The company has more than 10 years of network product design experience and has worked with VPN technologies since 1991. Compatible Systems has strong customer, reseller and ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. relationships and has installed equipment in thousands of networks worldwide. For more information, contact Compatible Systems Corporation at P.O. Box 17220, Boulder, Colorado 80308 or by phone at 800-356-0283 or 303-444-9532. The company's World Wide Web server is http://www.compatible.com. |
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