inpr news
Thursday January 13, 8:02 am Eastern Time
Company Press Release
SOURCE: Inprise Corporation
Inprise/Borland Announces Venture Fund
Company to Make Investments in Wireless and Linux Technologies
NEW YORK, Jan. 13 /PRNewswire/ -- Inprise/Borland's (Nasdaq: INPR - news) interim president and chief executive officer Dale Fuller today announced plans to invest $60 million in start-up businesses focused on wireless technologies, Internet Access Infrastructure, and Linux applications and technologies. The announcement was made today at the Needham & Company's 2nd Annual Growth Conference in New York City.
(Photo: NewsCom: newscom.com )
''Technology companies can no longer expect to build it all,'' said Fuller. ''Start-ups are able to move more aggressively and respond to market opportunities more quickly than established, larger companies. This new model will allow us to leverage our strong technological and intellectual property strengths, while ultimately delivering more complete solutions to the marketplace. We believe this partnering approach, which preserves the independent entrepreneurial spirit of the start-up, will yield far better results than acquiring the companies outright.''
''There are numerous quality investments we can make right away which are central to our strategy, which is to help companies conduct business over the Internet,'' said Fuller. ''We expect to invest primarily in start-ups whose missions reinforce our primary initiatives -- to provide services to ASPs, business to business E-commerce, and Linux markets.''
Equity stakes will usually be limited to 20% or less, and Inprise/Borland will act as a ''startup catalyst'' to assist the company in its formative stages. ''Our role will be to assist them in getting to market as quickly as possible,'' said Fuller. ''In addition to capital, we can provide access to our award-winning development tools and Internet Infrastructure Access products, our patent portfolio and technologies, and our distribution network and data center infrastructure. Our strategy is to help establish them and then stay out of their way.''
The investments will be reviewed by a committee consisting of Inprise/Borland's Dale Fuller and the company's CFO, Fred Ball, and two outside directors, Bill Hooper and Robert Coates.
About Inprise/Borland
Inprise/Borland is a leading provider of Internet-enabling software and services designed to simplify the complexity of application development for corporations and individual programmers. Inprise delivers integrated, scalable and secure solutions, distinguished for their ease of use, performance and productivity. Committed to open platforms, Inprise/Borland continues its tradition of service and support for the millions of software developers around the world through its online developer community and E-commerce site -- community.borland.com -- providing a range of technical information, value-add services and third-party products. Founded in 1983, Inprise/Borland is headquartered in Scotts Valley, California, with operations worldwide. To learn more, visit us at borland.com or call us at 800-632-2864.
NOTE: Inprise product names are trademarks or registered trademarks of Inprise Corporation. Other names mentioned herein may be trademarks of the party using such names.
Forward-looking statements in this release, including but not limited to, those concerning Inprise's future financial performance, product development plans, and the potential features of or benefits to be derived from the Company's products, involve a number of uncertainties and risks, and actual events or results may differ materially. Factors that could cause actual events or results to differ materially include, among others, the following: possible disruptive effects of organizational or personnel changes by the Company, shifts in customer demand, market acceptance of the Company's new or enhanced products, delays in scheduled product availability dates, actions or announcements by competitors, software errors, general business conditions and market growth rates in the client/server and Internet software markets, and other factors described in the Company's S.E.C. reports on Forms 10-K and 10-Q.
SOURCE: Inprise Corporation
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