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Subject: OASIS Member News: Vordel secures second round funding of up to $10million
Vordel secures second round funding of up to $10 million Elderstreet, DrKW, ICC, Intel 64 Fund & Powerscourt invest in Vordel September 4, 2001, Dublin, Ireland and Boston, Massachusetts – Vordel, whose flagship product TalkXML™ provides a secure framework for web services, today announced that it has successfully completed a second round of funding of up to $10 million. The round was led by Elderstreet and includes new investments from DrKW (through a fund managed by its OM Investments team), ICC Venture Capital, Intel 64 Fund and Powerscourt Nominees Limited, who is an existing investor in Vordel. Vordel also announced the appointment of Simon Cook of Elderstreet and Anne Bannon of ICC to the company's Board of Directors. TalkXML™ is designed to enable companies to quickly integrate with the systems of their business trading partners in a secure environment. Therefore they can safely extend their business processes over public networks. Optimized for speed, TalkXML™ increases returns on existing investments and provides cost savings. "This investment will allow us to extend the reach of TalkXML™, which makes security and cost reduction a reality across diverse vertical markets,” said David Ryan, CEO at Vordel. "In the current economic climate," Ryan continued, "companies of all types are demanding technology that will allow them to extend and secure their business processes, yet is flexible enough to fit into their existing security and infrastructure set-up, with minimal extra investment. TalkXML™ fulfills this wish." “The Intel 64 Fund invested in Vordel because the company has developed technology that is designed to address some critical enterprise computing challenges,” said Mr. Damien Callaghan of Intel Capital Ireland. “We will work with Vordel to optimize and market their products for the IA-32 and IA 64 families beginning with the Itanium™ Processor Family,” said Callaghan. Simon Cook, partner at Elderstreet, said “Vordel’s proven XML solution delivers their customers the long sought after goal of achieving inter-enterprise interoperability, using open web service standards with total security and authentication.” Nick Gregg, of DrKW’s OM Investments team, said “This investment is consistent with our vision for the next-generation of integration solutions which will be critical to growth in electronic trade, particularly within finance. Vordel is now positioned at the forefront of secure web services and we look forward to helping contribute to their continued growth." Anne Bannon, Investment Director at ICC Venture Capital, commented on the announcement “ICC is pleased to invest in Vordel, who have demonstrated the ability to deliver solutions for enabling the framework for flexible and secure inter-enterprise communications.” About Dresdner Kleinwort Wasserstein (DrKW) Dresdner Kleinwort Wasserstein is the marketing name for the investment bank of Dresdner Bank AG, a member of the Allianz Group. Headquartered in London, Frankfurt and New York, DrKW provides a full range of investment banking products and services to European and other international clients including corporates, institutions and governments through its Investment Banking, Global Equities, Global Debt, Online Markets and Private Equity business lines. DrKW adds value for its clients by utilizing its strengths in European debt and equity markets and its leading position in European distribution, risk management, derivatives and international M&A and advisory work. For more information, please visit www.drkw.com The fund managed by the OM Investments team has an investment focus on private emerging technology companies whose innovations will impact the evolution of the financial services industry or where a large proportion of revenue may be derived from financial clients. About Elderstreet Elderstreet DrKC Limited is one of the UK's leading venture capitalist houses, specialized in investing in venture capital for growing businesses with a particular expertise in software, internet and computer services companies. Elderstreet became part of Dresdner Kleinwort Capital (the private equity arm of DrKW) in November 2000. Elderstreet's investment team, comprising of over 10 investment executives manages Ł150 million of committed funds and has existing investments in over 35 technology companies. The company is headed by its founder, Michael Jackson, who is also the Chairman of the Sage Group plc. For more information, please visit www.elderstreet.co.uk About ICC Venture Capital ICC Venture Capital is the specialist venture capital arm of ICC Bank plc, which is wholly owned by Bank of Scotland. ICC VC is Ireland's largest venture capital/private equity company, with over 80 minority shareholdings in a wide variety of some of the most successful Irish companies. Some 50% of these investments are in Irish technology companies. For further information see www.icc.ie About Intel 64 Fund The Intel 64 Fund is a quarter billion dollar equity investment fund that invests in technology companies developing innovative enterprise solutions for Itanium-based server and workstations. The fund is coordinated by Intel with Compaq, Dell, Hewlett-Packard, Intel, NEC, and SGI as co-investors. The Fund's other investors, managed by Morgan Stanley Dean Witter, include Bank of America, The Boeing Company, Circuit City, Enron, Ford Motor Company, General Electric, McKessonHBOC, Morgan Stanley Dean Witter, Reuters, Sabre, SmithKline Beecham, Sumitomo Corporation, SunAmerica and Telmex. Additional information about the Intel 64 Fund is available at www.intel.com/capital/ About Powerscourt Nominees Ltd. Powerscourt Nominees Limited is a wholly owned subsidiary of Powerscourt Capital Partners Limited, which is an investment management organization based in Dublin but with an international perspective. Powerscourt provides a premium investment management service to its private client and institutional investors by way of investment in the public and private equity market places. For further information see: www.powerscourtcapital.net About Vordel Vordel provides the security framework for web services. Vordel's flagship TalkXML™ product immediately raises the bottom line of any business by allowing existing systems and people to communicate securely using XML. TalkXML™ secures business communications, and extracts additional value from existing IT infrastructures by allowing inter-enterprise integration. Vordel Limited is a privately held Irish company headquartered in Dublin, Ireland with sales offices in London, Boston and New York. Institutional investors in Vordel include DrKW, Elderstreet VC, ICC Venture Capital, the Intel IA64 fund, and the Powerscourt Fund. Additional information about Vordel is available at www.vordel.com Vordel Press Contact (Europe): Hugh Carroll T: +353-1-215 3333 F: +353-1-215 3334 E: press-info@vordel.com Vordel Press Contact (USA - West): Julie Bassett Bassett PR & Marketing T: (949) 481-8801 F: (949) 488-7706 E: juliebassett@earthlink.net
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