Interwise Completes $9 Million Recapitalization with Expansion Equity; New Funding Will Further Accelerate Product and Market Expansion.CAMBRIDGE, Mass. -- Interwise, a global leader in unlimited voice, Web and video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. for the enterprise, today announced the closing of a $9 million recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. round of equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. . The new funding will be used to drive the Company's technology leadership in the emerging IP conferencing and collaboration market, as well as expand the Company's penetration in its target markets. The new equity round includes the following existing key investors: Lazard Technology Partners, Jim Manzi Jim Manzi (born, 1951) is the former Chairman, President and CEO of Lotus Development Corporation and is currently a private investor in various technology start-up ventures. Early career Manzi received his B.A. , Wall Street Technology Partners, Leeds Equity and GIMV (Belgium). Interwise offers one of the market's most successful software-based conferencing technologies. It is the only vendor that offers a complete, premise-based conferencing system and global hosted conferencing service capable of operating seamlessly together as a single, fully-redundant conferencing solution. Since launching the market's first fully-converged voice and Web, fixed-price enterprise-class conferencing product in 2005, Interwise has significantly disrupted the legacy practices of selling voice and Web conferencing A videoconferencing session via the Internet. In order to interact with other participants, attendees use either a Web application or an application downloaded into their client machines. by the minute at the departmental level--creating demand for flat rate pricing and unrestricted, corporate-wide access. Interwise Connect(TM) deploys across customers' networks as a standard desktop business application for unlimited usage by all employees, similar to email (see http://www.interwise.com/Benefits.html). 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. IDC, Interwise is the leading pure-play conferencing vendor for proven integration with IT systems and other collaborative applications. Interwise offers over 30 types of integration to-date (see http://www.interwise.com/Integration.html). The combined market for Web and voice conferencing is expected to grow to approximately $13 billion by 2009. "Interwise is leading the market with its technology and business approach to making conferencing a core business application," said Russ Planitzer, managing partner at Lazard Technology Partners. "The ability of enterprises to receive the full benefit of IP communications A general term for networks that use the IP protocol for voice (VoIP) and video traffic. See IP telephony. depends upon having scalable, reliable products that are both feature-rich and affordable. Interwise is doing this effectively, anticipating both the business and IT needs of its customers." According to Scott Lawson Scott Lawson (born 9 September 1981 in Lanark) is a Scottish rugby union player, who plays club rugby for Glasgow Warriors, and internationally for Scotland. He plays as a hooker. Lawson scored a try on his debut for Scotland in 2007, in a match against Romania. , IT business systems architect for global software maker QAD QAD Quality Assurance Division QAD Quality Assurance Department QAD Quick And Dirty QAD Quality Audit Division QAD Quick Attach/Detach QAD Question Answer Detail (language arts education) QAD Quality Application Development , "Interwise has both the right vision and the right product to make conferencing a core business application for all employees. Interwise Connect is well designed and performs inherently better in the network than other solutions, which aren't designed for handling rich collaboration with large numbers of events and users. The value goes beyond cost savings. By equipping QAD employees throughout 25 countries with Interwise, we become a more innovative, agile and well-aligned company." "Interwise is attracting attention for its impact on the way enterprises are buying and using voice and Web conferencing," said Frank Zvi, 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 Interwise. "We are driving more favorable pricing, usage and access models for customers across many industries. Our technology is setting new standards for scalability, reliability and performance." Zvi added, "Companies such as QAD, Nestle, Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. , Renault-Nissan and Bosch are unifying their geographically-dispersed operations, accelerating business processes, reducing time-to-market and improving customer relationships with our advanced IP conferencing technology." About Interwise Connect Interwise Connect integrates voice, Web and video conferencing within a single application for unlimited audio conferences, Web meetings, virtual classes, Webcasts, broadcasts and on-demand recordings. Deployed as a core business application to all employees, it improves the frequency, speed and quality of both internal and external business activities. It delivers strong cost and business ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). to companies with distributed and mobile workforces, customers and supply chains. Interwise Connect is a leading choice of Global 2,000 companies, with more worldwide deployments of 5,000-plus seats than any other enterprise conferencing solution on the market. About Interwise Interwise is the leader in delivering unlimited voice, Web, and video conferencing for the enterprise. Interwise's fixed price / unlimited usage business model and enterprise-class technology combine to make it easy for companies to deliver conferencing and collaboration as a core business application, replacing multiple products with a single, integrated solution that can reduce overall conferencing expenses by 50 percent or more. More importantly, our unique capabilities drive innovation, corporate agility and operational effectiveness by enabling customers to give unlimited conferencing and collaboration to every employee in the enterprise, like email. Interwise sells to and supports customers globally through a direct sales force, distributors, value-added resellers, communications service providers A Communications Service Provider or CSP is a company that transports information electronically. The term encompasses public and private companies in the wireline, wireless, Internet, cable, satellite, and managed services businesses. , and network-oriented systems integrators. Trademarks Interwise Connect, Interwise Expressway and the Interwise logo are trademarks and Interwise is a registered trademark of Interwise, Inc. All other trademarks are the property of their respective holders. |
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