JetFax Inc. Receives $11.6 Million in Equity Capital; Leaders in Multifunction Technology Now Poised for Further Expansion in a Lucrative and Rapidly Growing Market Segment.MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--April 1, 1996--JetFax Inc., a recognized leader in the multifunction document management market, has consummated an agreement with a consortium of investor groups to receive an investment of $11.6 million in equity capital, including conversion of debt. With this capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. , JetFax Inc. is now even better prepared to respond to the readily growing demand for multifunction products, controllers and software, representing the core of the integrated digital office. 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. market research firm BIS Strategic Decisions of Norwell, Mass., by 1999, sales of multifunction machines are predicted to exceed 7 million units in the U.S. alone, representing more than 30% of the printer market. "This equity investment puts us on solid financial footing to penetrate both desktop and workgroup market segments of the high growth, multifunction market," said Rudy Prince, President of JetFax Inc. The lead investors within the consortium are Endeavor Capital Management, a venture capital firm with offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and Westport, Conn.; and Talkot Partners of Sausalito, Calif. Other participating investors are Prism Partners of San Francisco; PolyVentures of Farmingdale, N.Y.; Draper Associates of Redwood City, Calif.; Granite Capital of NY and Strome Susskind Investment Management of Santa Monica, Calif. JetFax products are recognized as being among the elite in the multifunction peripheral market. The company's flagship product, the JetFax M5, was recently recognized by WINDOWS Magazine as one of the best multifunction products on the market, making the WINLAB WINLAB Wireless Information Network Laboratory (Rutgers University) "Recommended List" in its April issue. For more information, contact JetFax Inc. by calling 800-7-JETFAX or 415/324-0600. JetFax information can also be obtained via the Internet by sending an e-mail to info@jetfax.com or by accessing JetFax's home page at http://www.jetfax.com. JetFax Inc. was founded in 1988 as one of the first multifunction product suppliers with its industry standard fax interface for laser printers. Since its inception, JetFax has become widely acknowledged for its many innovative product developments, including the highly acclaimed JetFax M5 laser multifunction device, its exclusive two-line fax technology, and a number of OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and and technology licensing relationships. CONTACT: JetFax Inc. Janice Roberts, 415/324-0600 janice@jetfax.com or EBS See Swiss Electronic Bourse. EBS See electronic blue sheet (EBS). Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Inc. Barbara Adle or Ron Morrill, 847/714-8600 ebs@ebspr.com |
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