Nokia and 3Com Take Stake in fusionOne
$7.4 Million Second Round Financing will Fuel Company Growth
LOS GATOS, Calif. — August 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."
Nokia and 3Com Take Stake in fusionOne?
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
ComputingÒ 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."
Nokia and 3Com Take Stake in fusionOne?
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. |
