Context Integration Receives Second Investment Round of $10 Million; Gains Distinguished New Board Member from Atlas Venture.BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 3, 1998-- Stephen Sharp Joins Context Management Team as 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. and President Context Integration, a leading consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a for the deployment of mission-critical integrated Internet solutions for business, today announced that it has closed a new investment round of $10 million led by Atlas Venture, located in Boston. Atlas Venture is a partnership of international venture capitalists formed to finance high-technology businesses. This is a first-time investment in Context for Atlas Venture, which is investing its full cap of $5 million. Internet Capital Group (ICG ICG indocyanine green. ) and Sigma Partners, two of the initial investors in Context, join Atlas Venture with an additional $5 million. In addition, Context announced the appointment of Stephen Sharp to CEO and President of Context. Sharp will head the executive team at Context's new headquarters in the Boston area. He previously served as Senior Vice President & General Manager, Worldwide Services and Industry Solutions, at Siebel Systems. Siebel is a leader in Enterprise Customer Relationship Management, providing closed-loop solutions for sales, customer service, and marketing. Sharp has 20 years of experience in professional IT services including leadership roles at Sybase, SQL SQL in full Structured Query Language. Computer programming language used for retrieving records or parts of records in databases and performing various calculations before displaying the results. Solutions, and Andersen Consulting. "We look for fast-growing information technology companies that we believe have the potential to be leaders in their markets," said Ron Nordin, Venture Partner at Atlas Venture. "Context Integration's focus on business critical web applications put them in one of the fastest growing areas of the Internet services industry. Moreover, we were attracted to Context Integration's strong growth record, having doubled revenues every year over the past four, and their ability to service a demanding blue chip client list that includes leading Wall Street firms, as well as leaders in the energy and high tech industries. Finally, we believe that their management team will be greatly enhanced by Steve Sharp's appointment as CEO." In conjunction with the Atlas Venture investment, Nordin will join the Board of Directors of Context Integration, which now includes Peter Solvik, CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of Cisco Systems; Donald McKinney, Chairman and CEO, International Network Services (INS INS abbr. 1. Immigration and Naturalization Service 2. International News Service Noun 1. INS ); Bob Davoli, Partner at Sigma Partners; and Kenneth Fox, Managing Director, Internet Capital Group. Nordin was previously CEO of SQA SQA Scottish Qualifications Authority SQA Software Quality Assurance SQA Supplier Quality Assurance SQA Society of Quality Assurance SQA Singapore Airlines SQA Sperm Quality Analyzer SQA System Quality Assurance SQA Statistical Quality Analysis , a leading public software company specializing in quality assurance. Prior to that, he held Senior Vice President positions at Cognos, a leading supplier of decision support and OLAP (OnLine Analytical Processing) Decision support software that allows the user to quickly analyze information that has been summarized into multidimensional views and hierarchies. OLAP tools are used to perform trend analysis on sales and financial information. software. Nordin has over 25 year of experience in the IT industry. "We share Atlas Venture's vision of a bright future for Context," said T.C. Lau, co-founder and chairman of Context Integration. "With the additional capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. , we can continue to attract senior technical talent as well as content area experts to offer our clients innovative systems design and execution. We also intend to deepen our service offerings in e-commerce and to more effectively and broadly market those services in the increasingly competitive IT services environment. The Board is also delighted that we can take advantage of Steve Sharp's significant experience in IT professional services." About Context Integration Headquartered in the Boston area, Context Integration is a leader in the rapid delivery of mission critical web-enabled applications. Founded in 1992, Context helps clients extend their systems infrastructure to the web, including Internet, Intranet, and Extranet. Context has more than 120 specialized consultants experienced in traditional client/server and Internet based applications, as well as object-oriented architectures. The company supplies consulting and full life cycle application development to both Finance 250 and Fortune 500 clients, and has offices in San Francisco, 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 , Boston, Austin, Dallas, and Houston. Founded in 1992 by IT consultants, Context Integration has strategic partnerships with Actuate, BusinessObjects, Informix, IONA, NetDynamics, OMG (1) See Object Management Group. (2) "Oh my God!" See digispeak. OMG - Object Management Group , Sun Microsystems, Sybase, Sybase/Powersoft. About Atlas Venture Atlas Venture was formed in 1980 to finance information technology and life sciences business seeking success in the global economy. Atlas Venture currently manages more than $450 million in investments from a partnership of international venture capitalists. Atlas Venture partners are located in key business centers in Boston, Menlo Park, London, Munich, Paris, and Amsterdam. Atlas Venture's IT portfolio includes U.S. companies such as: Artel Artel (Russian: арте́ль) is a general term for various cooperative associations in Russia, historical and modern. Video Systems; Cerulean ce·ru·le·an adj. Azure; sky-blue. [From Latin caeruleus, dark blue; akin to caelum, sky.] Noun 1. Technology, Inc.; DataMind Corp.; Firefly Network, Inc.; GeoTel Communications Corp.; Ilog, Inc; OnDisplay, Inc.; Vemeer;, and Versant Object Technology Corp. More information about Context Integration is available on the Web at www.context.com.
CONTACT: Context Integration
Linda Itskovitz, 650/873-0103
litskovitz@context.com
or
Eastwick Communications
Leanne Hartman, 510/654-5621
leanne@eastwick.com
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