Emerald Solutions Secures $15 Million in Additional Funding; Lexington Partners Inc. to Lead Funding Round.Business Editors/High-Tech Writers PORTLAND, Ore.--(BUSINESS WIRE)--July 31, 2000 Emerald Solutions, a premier provider of e-business services and solutions, today announced that the company has closed an additional round of financing for $15 million. Co-Investment Partners, a fund managed by Lexington Partners Inc., the largest among the group of investors, was joined by repeat investor Technology Crossover Ventures, as well as lead underwriter Lead underwriter The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues. Deutsche Banc Alex. Brown and Furman Selz Asset Management. Emerald Solutions has raised $27 million since its inception in 1997. This latest investment will be used primarily to fund Emerald's merger with Alliance Consulting Group Inc. (see today's announcement "Emerald Solutions Acquires Premier Strategy Firm Alliance Consulting Group") and for other corporate purposes. "We view this as a real vote of confidence from such a quality group of investors, including continued support from an original investor combined with funding from several new strategic relationships," said Martin Wright, chief executive officer of Emerald Solutions. "We believe that, with this funding, Emerald Solutions is well positioned to expand our network of consultants, grow our business, and execute on our corporate strategy." About Emerald Solutions Emerald Solutions is an e-business services company that designs and builds Internet-based business solutions by integrating digital business strategy with both emerging and existing information technologies. Emerald Solutions helps its clients to create entirely new e-businesses or to expand and improve their existing e-business activities. Emerald Solutions enables its clients to use the Internet to enhance relationships with their customers and business partners, improve the efficiency of their operations and create new revenue opportunities. Emerald's client base includes AT&T, Lucent, Boeing, Priceline.com, Warner-Lambert/Parke-Davis, Pfizer, Flowerbud.com, Consolidated Freightways Consolidated Freight was the 3rd biggest trucking company in the US. In the 1930s they started their own truck manufacturing operation, Freightliner, now part of DaimlerChrysler. , Lucy.com, Emery Worldwide Emery Worldwide was a cargo airline, once was one of the leading carriers in the cargo airline world. Emery started in 1946 and was the first freight forwarder to receive a carrier certificate from the United States Government. , Benjamin Moore This article is about the American bishop. For the British biochemist, see Benjamin Moore (biochemist). Benjamin Moore (1748 – 1816) was the second bishop of the Episcopal Diocese of New York. , and Hawaiian Airlines Hawaiian Airlines is the 11th largest commercial airline in the United States. It is the largest airline based in the State of Hawai'i and is commonly referred to by the acronym "HAL". . Emerald is a U.S.-based company with offices in 10 locations. For more information, visit Emerald Solutions at www.emeraldsolutions.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Except for historical information, the matters discussed in this news release contain 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 statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's expectations regarding execution of the Company's corporate strategy expansion of the Company's network of consultants growth of the Company's business certain strategic relationships of the Company and the expected use of the funds received pursuant to this investment. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from those projected. These risks include the risk that future events could require redeployment re·de·ploy tr.v. re·de·ployed, re·de·ploy·ing, re·de·ploys 1. To move (military forces) from one combat zone to another. 2. of the funds received as part of this investment, and that as a result of competition, attrition Attrition The reduction in staff and employees in a company through normal means, such as retirement and resignation. This is natural in any business and industry. Notes: or general economic down turn that the Company will not achieve growth expectations, either through internal growth or through acquisitions execution of the Company's business strategy and expansion of the Company's network of consultants. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Note to Editors: Emerald Solutions, E-Business Engineering, E-Business Engineering at Work, Business Agility Index, and the Emerald Solutions logo are service marks of Emerald Solutions Inc. Other product and company names herein may be trademarks of their respective owners. |
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