Datawire Secures $9.15 Million in Financing Led by Telesystem Ltd.Business Editors TORONTO--(BUSINESS WIRE)--April 3, 2001 Datawire Communication Networks, developer of the revolutionary VXN VXN The implied volatility on the Nasdaq 100 (NPX) option. This volatility is meant to be a forward looking volatility. It is calculated from both calls and puts that are near the money. (TM) fault-tolerant distributed e-transaction network, today announced its second round of financing in the amount of $9.15 million US. This second round of financing was lead by Telesystem Ltd., a private equity company of the Digital Economy, with additional investments by NB Capital Venture Partners and Andwel Partners. "Datawire's technology is unique and ahead of its time. While most transactions that take place over the public Internet are unprotected, Datawire's network and solutions provide optimal security without sacrificing speed," said Robert Talbot, General Manager, Ventures, at Telesystem Ltd. "The company's solid management team impressed us with their vision of the importance of a 'value-added network' and their ability to analyze and build upon the current inefficiencies of the Internet," added Talbot. "Our investment was based on Datawire's state-of-the-art technology and hard-working management team," said Bryan W. Kerdman, Partner at NB Capital Partners. "No other company is currently able to offer the capabilities of the VXN - fully managed guaranteed, reliable and secure transactions over the Internet. This not only equates to significant cost savings, but customer retention and added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
"This new support will enable Datawire to further execute on our aggressive strategy to expand our growth in the e-transactions sector and help us to firmly position ourselves as the leader in the market," said Anees Munshi Munshi is a degree in South Asia, that is given after passing a certain course of basic reading, writing, and math etc. The advanced degree was Munshi Fazil or Munshi Fadhil. Munshi is also a title that a graduate of Munshi course is allowed to attach to his name. , 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 Datawire Communication Networks. "The VXN network has created the platform that delivers on the promises of transactional and e-services delivery that is critical for the next wave of the new economy to flourish," added Munshi. About the VXN The VXN is a transaction transport for the guaranteed delivery of business-critical wireless and wireline transactions from any e-service, to any device, in real-time. This allows businesses to access a wide array of e-services carried over the VXN network, including financial transactions (wireless and wireline POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale , P2P See peer-to-peer and point-to-point. , P2L P2L Prepare to Live , ACH, e-banking), information transactions (bill-name-address, demographic profiling, fraud control), database transactions (healthcare, ticketing, dispatch) and others. The unique distributed fault-tolerant design This article is about general fault-tolerant design theory. For specific implementations, see fault-tolerant system. Fault-tolerant design refers to a method for designing a system so it will continue to operate, possibly at a reduced level (also known as graceful degradation), of the VXN creates a sophisticated solution for overcoming the inherent limitations of the Internet (speed, security, reliability, performance) while leveraging its strengths (ubiquity and cost of access). The result is a state-of-the-art carrier class e-transactions network. About Datawire Datawire Communication Networks, Inc. has revolutionized e-Service delivery by enabling the execution of a broad range of commercial and data transactions with unprecedented speed, security and reliability over the company's proprietary VXN network. At present, Datawire processes in excess of 1.5 million transactions per month for a variety of customers. Datawire has partnerships with Motorola, US Wireless Data, Hewlett-Packard, and Global Payment Systems amongst others. About Telesystem Telesystem Ltd. (www.telesystem.ca) is a private equity company focused on growth-oriented enterprises offering high-return potential in the Digital Economy. Telesystem includes both a network of operating companies in wireless and broadband communication infrastructures and synergistic enterprises, principally in the development of mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. services and Web-centric business solutions, through its specialized venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: or direct investments. Active on a global scale, Telesystem is recognized for its ability to identify and realize value. About NB Capital National Bank Capital Venture Partners is a private equity fund investing primarily in equity and equity-related securities of private technology companies. As part of the NB Capital Partners Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". , NB Capital Venture Partners specializes in networking technologies, enterprise software, and transaction processing solutions. NB Capital Partners, founded in 1999, is a merchant bank affiliated with National Bank of Canada This article is about a commercial bank. For Canada's central bank, see Bank of Canada. National Bank of Canada (Banque Nationale du Canada) TSX: NA is the sixth largest bank in Canada, and so is one of the Big Six banks. and National Bank Financial and manages approximately $700 million in committed capital committed in five funds. |
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