Nokia and 3Com Take Stake in FusionOne www.fusionone.com
$7.4 Million Second Round Financing will Fuel Company Growth
LOS GATOS, Calif.--(BUSINESS WIRE)--Aug. 9, 1999--FusionOne, a pioneer
in the development of next-generation Internet
synchronization technology, today announced the completion of a second
round of financing totaling $7.4 million. Led by Nokia
Ventures, the round also includes investments from 3Com Ventures, Inc.;
a second investment from El Dorado Ventures, provider of
FusionOne's seed financing in October 1998; as well as select private
investors. This significant investment provides FusionOne with the
necessary resources to fuel rapid growth and bring to market its
"killer" synchronization e-service for consumers.
Nokia Ventures, a $100 million venture capital fund based in Menlo Park,
California, is an affiliate of Nokia Corporation (NYSE:
NOK), the world's leading manufacturer of wireless telecommunications.
In conjunction with this financing, FusionOne is announcing the
appointment of Nokia Ventures general partner, John Malloy, to the
FusionOne board of directors. Malloy joins a board comprised of
seasoned industry veterans affiliated with leading companies such as
Cisco Systems (Nasdaq: CSCO), Gateway (NYSE: GTW), INS
(Nasdaq: INSS), Concentric Networks (Nasdaq: CNCX), and El Dorado
Ventures.
"FusionOne's vision of providing universal access to personal
information from any device is directly in line with Nokia's mission of
empowering mobile users," commented Malloy. "We are confident that
FusionOne's Internet Sync solution will be an integral component
in the success and adoption of next generation smart devices and
pervasive computing as a whole, and we are extremely excited to help
the company become the leader in the synchronization market."
FusionOne is the developer of the recently announced Internet Sync, a
simple and seamless way for users to keep their personal digital
content up-to-date and "in sync" across multiple devices. With
FusionOne, users synchronize files and contacts on their office PC with
assurance that their information will automatically be updated in their
cell phone, home PC and handheld device. Additionally, files
stored on their office computer can be easily accessed from any
Web-enabled device, regardless of platform or operating system.
3Com Ventures, a wholly owned subsidiary of 3Com Corporation (Nasdaq:
COMS) that invests in emerging technology companies
throughout the world, sees the investment in FusionOne as an opportunity
to facilitate the sharing of valuable information across multiple
devices, including its Palm Computing(R) family of connected organizers.
"We are impressed with the technical advancements that FusionOne brings
to synchronization and we think that FusionOne will play a
key role in growing the Palm Economy," said Janice Roberts, president of
3Com Ventures and senior vice president, business
development, 3Com Corp. "We are excited to work with FusionOne to
realize our shared vision of connecting people with their
information - anytime, anywhere."
"We are confident that FusionOne's innovative architecture and vision
will be the driving force behind the new era of ubiquitous
computing," said Rick Onyon, president and co-founder of FusionOne.
"With the support and backing of such successful companies as
Nokia and 3Com, FusionOne will be in position to dominate and drive the
growth for this emerging market as we bring our vision to
reality."
About Nokia Ventures Fund
Nokia Ventures is a US$100 million venture capital fund formed in 1998
to invest in early stage, high-growth companies in the areas of
e-commerce, information technology, and communications. Nokia
Corporation has invested in the fund with the express intent to gain
exposure to learnings about new markets, business models and
technologies beyond the reach of Nokia's current business unit
strategies. Nokia Ventures seeks partnerships with leading-edge
companies attacking high-growth market opportunities that will benefit
from the combined resources, experience and contacts of the Nokia
Ventures team and from the association with a world-class brand.
For more information, please visit www.nokiaventures.com.
About 3Com Ventures
3Com Ventures, Inc. is a wholly owned subsidiary of 3Com Corporation
that invests in emerging technology companies around the
world. Most recently 3Com Ventures has invested in companies that
specialize in wireless technologies, handheld devices, home
networking, converged networking and Internet-related technologies. For
further information, visit 3Com's World Wide Web site at
www.3com.com or the press site at www.3com.com/pressbox.
About FusionOne
Privately held and founded in 1998, FusionOne is the pioneer developer
and marketer of cutting-edge Internet Sync software and
e-services that make access to up-to-date information simple and
seamless across multiple communications and computing devices.
FusionOne is backed by funding from El Dorado Ventures, its founders and
recognized leaders in the high technology industry.
FusionOne, Inc. is located in Los Gatos, Calif. and can be found on the
Internet at www.FusionOne.com or contacted via telephone at
(408) 399-5620.
FusionOne, FusionPak, and Internet Sync are trademarks of FusionOne,
Inc. 3Com and Palm Computing are registered trademarks of
3Com Corporation. All other product, service and company names are
trademarks, registered trademarks or service marks of their
respective owners.
Contact:
FusionOne, Inc.
Sally Winship Comollo, (408) 399-5620, ext. 217
sally@fusionone.com
or
FitzGerald Communications
Jeana Lee, (415) 677-0206
jlee@fitzcomm.com
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