NextPage Receives Funding Led by Oak Investment Partners; Other Investors Include CIBC Capital Partners, Dominion Ventures, Intel Capital, Tidal Ventures and Visa.Business Editors/Technology Writers LEHI, Utah--(BUSINESS WIRE)--Oct. 8, 2001 NextPage Signs Global Strategic Alliance with Visa International NextPage Inc., a leader in Peer-to-Peer Business Networking This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , announced today that Oak Investment Partners, CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Capital Partners, Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. Ventures, Intel Capital, Tidal tidal /ti·dal/ (ti´d'l) ebbing and flowing like the waters of the oceans. tid·al adj. Resembling the tides; alternately rising and falling. Ventures and Visa International have invested $13 million in NextPage in a recent funding round led by Oak. In addition, NextPage has signed a four-year, global strategic alliance with Visa to formally explore opportunities to implement NextPage(R) technology. "This investment is another significant milestone for NextPage," said Bill Wesemann, chief executive officer of NextPage. "These resources will help us accelerate the adoption of our enterprise peer-to-peer technology and develop our next generation peer-to-peer platform." This new investment provides NextPage with the opportunity to pursue co-development and co-marketing activities with these investors. "NextPage's unique peer-to-peer technology dramatically improves the way companies interact internally and with their customers," said Ann Lamont, general partner at Oak Investment Partners. "In fact, NextPage is the first solution we've seen that enables companies to share and exchange critical information across separate divisions within an organization and across company boundaries." As part of its investment, Intel has agreed to participate in marketing programs and events that help advance peer-to-peer technology and NextPage's platform. "Peer-to-peer technology is growing in importance to the enterprise," said Bob Knighten, Intel's peer-to-peer evangelist evangelist (ĭvăn`jəlĭst) [Gr.,=Gospel], title given to saints Matthew, Mark, Luke, and John. The four evangelists are often symbolized respectively by a man, a lion, an ox, and an eagle, on the basis of Rev. 4.6–10. . "NextPage technology promises to bridge the information gaps across company and departmental boundaries, helping to change the way enterprises utilize information assets." NextPage technology helps change the way companies work by enabling teams of people within enterprises and among enterprises to come together virtually and interact with critical information, regardless of where the information or people physically reside. Enterprises use NextPage to connect employees, partners and customers in a Peer-to-Peer Business Network. In this network, teams can work more effectively by capitalizing on the knowledge assets, expertise and best practices that exist in other departments or organizations. As part of its strategic alliance with NextPage, Visa has assigned an executive representative to work with NextPage to implement NextPage technology at Visa. Visa also plans to participate in co-marketing programs and events with NextPage. "NextPage technology is all about giving employees and organizations better access to information," said Sarah Perry, senior vice president, Global Strategic Alliances & Investments at Visa International. "It is about building systems to keep us better connected, to improve the way we manage data and raise our levels of efficiency. Such systems are a building block of u-commerce or universal commerce, Visa's vision of the future of payments." With this round, NextPage has received a total of $49 million in funding. About NextPage NextPage Peer-to-Peer Business Networking simplifies cross-enterprise business by connecting information and people across organizational boundaries. With NextPage technology, employees, partners and customers can access distributed content, leverage business processes and collaborate with peers. Distributed enterprises rely on NextPage to harness their knowledge assets, apply best practices and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. expertise. Companies such as Baker & McKenzie, Travelers Property Casualty, Citibank, KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , Ernst & Young and HCA HCA, n.pr See acid, hydroxycitric. - The Healthcare Company rely on NextPage to power their extended enterprises. Visit www.nextpage.com, or call 800-NEXTPAGE or 801-768-7500. About Oak Investment Partners Oak is a classic venture capital firm that funds high-growth entrepreneurial ventures and assists in guiding them to industry leadership. Over the last 20 years, Oak has actively participated in the repeated waves of innovation that have swept through our economy. Oak companies have been notable contributors to innovation in the IC, PC, Networking, Specialty Retail, Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. , Wireless, Enterprise Software and Internet industries. About CIBC Capital Partners CIBC Capital Partners is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. merchant bank and part of CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Inc., the investment banking and securities business of the Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce TSX: CM NYSE: CM, better known to most customers as CIBC, is one of Canada's major banks. CIBC is classified as a Domestic Chartered Bank (Schedule I). . CIBC Capital Partners is invested in over 550 companies and in approximately 125 private equity funds around the world, with total commitments in excess of US$7.5 billion. [pilcrow (paragraph sign)] CIBC Capital Partners' merchant banking activities include private equity investments in venture capital, leveraged buyouts leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. , and other special situations. Merchant banking professionals are located in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , 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. , and Toronto. About Dominion Ventures Dominion Ventures provides capital and strategic guidance to emerging growth companies with the potential to achieve excellent performance and leadership in the marketplace, and create significant shareholder value. Dominion's investment focus is high-growth information technology and Internet services enterprises. Founded in 1985, Dominion has an excellent investment track record and is sponsored by highly regarded institutions, pension funds and endowments. About Intel Capital Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. , including Internet infrastructure, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital. About Tidal Ventures Tidal Ventures co-invests in and collaborates with rapidly growing communications and Internet infrastructure companies in the U.S. and Europe, employing many years of senior-level strategy and operations experience and multiple networks. About Visa International Visa is the world's leading payments brand and the largest payments system worldwide. Visa-branded cards generate almost US$2 trillion in annual volume and are accepted at over 22 million locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet-based payments and is pioneering the creation of u-commerce, or universal commerce -- the ability to conduct commerce anytime, anywhere, over any type of device. NextPage is a registered trademark, and NXT NXT Next and NextPage Matrix are trademarks of NextPage Inc. All other names are used for identification purposes only and may be trademarks of their respective owners. |
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