Exario Networks Announces $12 Million Series A Financing.Business Editors and High-Tech Writers PARSIPPANY, N.J.--(BUSINESS WIRE)--Sept. 20, 2000 Exario Networks, Inc., a leading Network Service Provider specializing in managed voice and data solutions including virtual private networks (VPNs), real private networks (RPNs) and telecommuter A person who telecommutes. See telecommuting. solutions, announced today that it has received $12 million in Series A financing. SG Capital Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Gramercy gra·mer·cy interj. Archaic Used to express surprise or gratitude. [Middle English gramerci, from Old French grand merci : grand, great; see grand + Communications Partners each invested $6 million and will each receive one board seat. Exario will use the funds to continue its nationwide network build-out and to advance its sales, marketing and execution of managed network services to large enterprise clients. This financing brings Exario's total equity raised this year to $15 million. "Exario has developed a unique business model in the converging con·verge v. con·verged, con·verg·ing, con·verg·es v.intr. 1. a. To tend toward or approach an intersecting point: lines that converge. b. enterprise voice and data markets," said Justin Hall-Tipping, Managing Director at SG Capital Partners. "We believe the market potential for these managed edge-based solutions is significant and Exario is well positioned to become the market leader in this space. We are extremely excited to be partnering with this innovative company." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tom Mizzone, 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 Co-Founder of Exario, "This round of institutional financing is providing us with the capital to complete our nationwide voice and data network and execute our business plan. Our state-of-the-art network design allows us to provide edged-based, fully managed network solutions connecting remote offices and telecommuters without the management hassles and expenses of customer-premise equipment. Further, our nationwide OC-3 ATM backbone provides the quality of service guarantees that cannot be offered over traditional Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the based VPNs. Our solution for seamless, converged voice and data delivery over a completely private network provides customers with unprecedented capabilities. We are very pleased to have these experienced and well-capitalized institutions join Exario as shareholders and look forward to their participation in our growth." About Exario Networks: Exario is a privately held Network Service Provider specializing in managed edge solutions including virtual private networks, real private networks and telecommuter solutions. The Company combines its local points of presence and its nationwide ATM backbone to implement seamless, high-speed private networks primarily for companies requiring the highest levels of network security and quality of service. Exario currently has over 90 employees with offices in Parsippany, New Jersey and Santa Clara, California Santa Clara, California (IPA: /ˌsæntəˈklærə/) , founded in 1777 and incorporated in 1852, is a city in Santa Clara County, in the U.S. state of California. . For more information, please call 1-888-2EXARIO or visit the company's website at www.exario.net. About SG Capital Partners LLC: SG Capital Partners is a $400 million private equity fund with an investment portfolio of 24 high growth companies, including Net2000 Communications, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : NTKK), Viawest Internet Services, Inc., and Cyras Systems, Inc. SG Capital Partners is the merchant banking affiliate of SG Cowen, a full service investment bank and dealer/broker with a strategic focus on high-growth industries, particularly technology, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and healthcare. About Gramercy Communications Partners: Gramercy Communications Partners is a New York-based private equity fund formed in July 1999 to invest in telecommunications and related industries. Gramercy has to date invested approximately $115 million in its ten portfolio companies. |
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