CyLex Systems Receives Venture Capital Funds; Investment Led By H.I.G. Capital LLC With BancOne and NorgInvest of Norway.BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 25, 1999-- Miami-based H.I.G. Capital LLC (HIG HIG Human immunoglobulin, see there ) has just completed a $6 Million round of venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends for CyLex Systems, Inc. of Boca Raton. HIG led the financing with co-investors BancOne, the third largest bank in the United States, and NorgInvest of Norway. CyLex Systems, Inc., 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. , was established in 1994 to create a new paradigm for document management service. Its flagship service, CyLex Express(R), leverages advances in imaging technology and network communication to pioneer the leading outsourced on-line document information management service on the market today. CyLex Systems is one of the growing category of Application Service Providers (ASPs). Industry analysts are currently touting the emergence of a "new" Internet category, ASPs, as the one of the hottest trends today. "This round of funding will allow us to grow the company at a rate to meet market demand and attain its full potential," said Zee Aganovic, 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 CyLex Systems, Inc. H.I.G. Capital is a Miami, FL-based private investment firm. HIG currently manages more than $500 million of equity capital with investments in 28 companies with combined revenues exceeding $2 billion. H.I.G.'s investors include leading institutions including Goldman Sachs, Donaldson, Lufkin and Jenrette, Deutsche Bank, Yale University, Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , First Union Corp., Heller Financial, PNC Equity Management, Banque Nationale de Paris (BNP BNP B-type natriuretic peptide, brain natriuretic peptide Physiology A 32-residue peptide hormone produced predominantly in the ventricles, secreted in response to fluid overload–eg, CHF. See Atrial natriuretic peptide. ), and several others. "We look forward to supporting CyLex with additional capital to quickly realize our goal of an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ," said Brian D. Schwartz, a Managing Director of H.I.G. CyLex Systems has strategic alliances with a number of technical, marketing and services companies. These alliances include Citrix Systems, Inc., an established world leader in thin client technology; EMC Corporation, the world's leading supplier of intelligent enterprise storage and retrieval technology; Fellesdata of Norway; Deloitte & Touche; and Pride Enterprises. For more information on CyLex Systems, visit the company's web site at www.cylexsys.com. |
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