Lance...I don't think you have really taken much of an interest. Just in case however, I still keep you informed about my favorite stock. SNTO Watch it move today.
EchoPass Corporation Agrees in Principle to $22.7 Million In Venture
Capital Financing
AMERICAN FORK, Utah, Jan. 25 /PRNewswire/ -- Sento Corporation (Nasdaq: SNTO) today announced that New
Enterprise Associates and Canaan Partners, two top tier venture capital firms, have executed an agreement in principle to
participate in the first round of financing for EchoPass Corporation in a combined amount totaling approximately $22.7 million.
The first round of funding for EchoPass is expected to close in February 2000 and EchoPass expects additional financing to be
announced at that time. The financing is subject to the execution of definitive agreements and the satisfaction of closing
conditions.
If the pending transactions between Sento and EchoPass are completed, EchoPass intends to deliver to client companies the
latest in customer care capabilities including, telephone and Internet calls, e-mail, Web text chat, Web call backs, browser
collaboration, voicemail, and fax. The technology to be transferred by Sento to EchoPass is designed to direct incoming
customer interactions to the right client company's agent at the right time with skills-based routing and customer data screen
pops, enabling immediate and accurate customer care. EchoPass proposes to host, configure and maintain backend
infrastructures at its EchoCenter facilities. These facilities are intended to permit client companies to access all capabilities
through standard Web browsers. Once implemented, client companies will be charged based on usage, eliminating the need to
undertake costly build-outs of their own infrastructure and to hire and train additional IT staff to manage these critical business
applications. For more information, please visit www.echopass.com.
About New Enterprise Associates
New Enterprise Associates (NEA), formed in 1978, is one of the industry's premier venture capital firms. NEA invests in
early-stage, high technology companies and teams with management to build companies of lasting value. More than 100 NEA
companies have gone public in the Internet infrastructure, information technology and health care industries. For more
information, please visit www.nea.com.
About Canaan Partners
Canaan Partners (www.canaan.com) is a national venture capital investment firm formed in 1987. Canaan specializes in startup
and emerging-growth companies in information technology and services, as well as health care and financial services.
About Sento
Sento Corporation provides technical services for organizations using Windows NT and UNIX client-server computing
environments. These services include, Contract Technical Support, Help Desk Services, Technical Training and Education.
Sento conducts its business through its operating divisions including Sento Training and Sento Technical Services. For more
information, visit Sento's home page at www.sento.com.
Statements in this press release which are not purely historical are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements encompass Sento's beliefs, expectations, hopes or intentions
regarding future events. Words such as "expects," "intends," "believes," "anticipates," and "likely" also identify forward-looking
statements. All forward-looking statements included in this release are made as of the date hereof and are based on information
available to Sento as of such date. Sento assumes no obligation to update any forward-looking statement. Actual results could
differ materially from those anticipated for a number of reasons, including, among others, the failure of Sento and EchoPass to
complete the pending and proposed transactions between themselves and third parties, demands associated with Sento's
redirected strategy to develop and market new and additional information technology services and products, uncertainties and
expenses resulting from the implementation of Sento's efforts to identify, acquire and integrate additional businesses,
unavailability of capital to fund Sento's growth strategy and acquisition plans, the highly competitive environment faced by
information technology businesses, a downturn in the market for hardware and/or software products, economic fluctuations and
other unanticipated factors. Risk factors, cautionary statements and other conditions which could cause actual results to differ
from the Company's current expectations are contained in the Company's filings with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-KSB |
