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4-2-2001
ClearCube Technology Secures Series C Funding and a Strategic
Alliance
SAIC and ClearCube Technology to team on deployment
of
enterprise desktop management solutions
AUSTIN, Texas (April 2, 2000) – ClearCube Technology,
Inc., the evolution of the managed desktop, today announced
the close of $20 million in series C funding. New investors
in this third round of funding include TVM (Techno Venture
Management), who also led the round, as well as SAIC Venture
Capital Corporation, the venture investment arm of SAIC (Science
Applications International Corporation), which has become
a new strategic teammate. Returning investors included Austin
Ventures, Sternhill Partners and Acer. These funds will be
used to expand product development, increase sales and marketing
efforts, and for general business purposes.
As part of the terms of the new alliance SAIC will act as
the lead integrator for ClearCube’s C3 architecture.
SAIC is one of the world’s leading providers of IT outsourcing
and integration services. SAIC experts help enterprises worldwide
meet their network, infrastructure, call center and desktop
management needs by offering a better way to manage these
assets through the application of SAIC’s integrated services
management processes.
"ClearCube’s innovative solution marks a change
in the current PC environment,” said Bob Lamkin, Venture
Partner with TVM. “Our fund focuses on IT & communications,
ClearCube Technology’s C3 architecture is a strong fit
in our investment strategies.”
"With the close of our series C funding we are pleased
to add our new investors TVM and SAIC-VCC, as well as the
addition of the new alliance," said Mike Frost, president
and CEO of ClearCube Technology. "The current market
is ready for a change in the managed desktop market. With
the support from our investors, ClearCube is poised to continue
to define and lead the managed desktop market as well as provide
innovative solutions that will radically change the management
and service of networked environments."
“As a leader in integration and outsourced support for
enterprise deployment, SAIC plans to use ClearCube’s
architecture to provide increased levels of service to our
customers,” said Kevin Werner, president of SAIC Venture
Capital Corporation.
“We initially invested in ClearCube Technology because
we believed their architecture and patent strategy would drive
the evolution of the managed desktop,” said Ed Olkkola,
General Partner at Austin Ventures. “Since our initial
investment, the customer and press responses have warranted
our initial beliefs and with our new investment we feel secure
that ClearCube has both the management team and the roadmap
to be a force in the developing managed solution arena.”
ClearCube Technology offers businesses a managed desktop
architecture that resolves problems that currently abound
in traditional managed PC environment. The patented C3 architecture
gives customers the power of Intel-based PC performance in
a secure, centralized, rack-mounted environment that users
access from their desktop up to 200 meters away. The unique
distance technology provides improvements in manageability
and security as well as increases reliability, performance
and office space savings.
About TVM
TVM Techno Venture Management is a German-U.S. venture
capital company. They create transnational businesses that
enjoy access to science, management talent and capital on
both sides of the Atlantic. Their investments focus on two
industries: Information & Communication Technology (ICT)
and Life Science (LS). More information about the TVM can
be found on the Internet at www.tvmvc.com.
About SAIC VCC
The SAIC Venture Capital Corporation (SAIC VCC) was
founded in 2000 by Science Applications International Corporation
(SAIC) to make equity investments in early-stage, high-potential
companies to promote leading-edge technologies and develop
key strategic relationships in the areas of telecommunications,
information technology, the Internet and electronic commerce.
SAIC is the nation’s largest employee-owned research
and engineering company, providing information technology,
systems integration and eBusiness products and services to
commercial and government customers. More information about
the SAIC VCC can be found on the Internet at www.saic-vcc.com.
About SAIC
SAIC is the nation’s largest employee-owned research
and engineering company, providing information technology,
systems integration and eBusiness products and services to
commercial and government customers. SAIC engineers and scientists
work to solve complex technical problems in telecommunications,
national security, health care, transportation, energy, the
environment and financial services. With annual revenues exceeding
$5.5 billion, SAIC and its subsidiaries, including Telcordia
Technologies, have more than 41,000 employees at offices in
more than 150 cities worldwide. More information about SAIC
can be found on the Internet at www.saic.com.
About Austin Ventures
Since 1979, Austin Ventures has grown to be the largest
venture capital firm in the Southwest. With more than $1.6
billion of capital under management, Austin Ventures is one
of the largest venture capital firms in the United States.
Austin Ventures' investments include such companies as Tivoli,
Vignette, Metasolv, Crossroads and Silicon Labs.
About Sternhill Partners
Headquartered in Houston, Texas, Sternhill Partners provides
venture capital funding to technology start-ups in Texas,
the Southwest and the West Coast. The Sternhill team leverages
its experience in product development, strategy, marketing,
sales and finance with industry leaders like Compaq Computer
Corporation, Motorola, McKinsey and PricewaterhouseCoopers
to provide insightful business analysis to its portfolio companies.
With more than $100 million under management, Sternhill provides
top-notch entrepreneurs a venture partner that offers knowledge,
experience, contacts and capital to develop a successful business
in today’s technology marketplace. For additional information
about Sternhill Partners, visit http://www.sternhillpartners.com/
About ClearCube Technology
ClearCube was founded as a research and development company
with the goal of developing cost-effective methods to transmit
data faster and farther over existing copper wire. ClearCube
has become an industry leader in the transmission of data
over long cable used in the managed PC environment. ClearCube’s
patented wire transmission technology reduces downtime, enhances
security, saves space, and lowers maintenance costs. For more
information, visit www.clearcube.com.
For more information please contact:
Kenneth Knotts
Director of Marketing
ClearCube Technology
512.652.3425
ken@clearcube.com |