Ironside Secures $20 Million U.S. In New Capital
Toronto, Ontario -- March 16, 2000
Ironside Technologies Inc., of which Beamscope currently holds a
16.5% interest, has completed a private financing for $20 million
U.S. from a group of Canadian investors. In addition, existing
shareholders have been given the option to purchase up to $5
million U.S. which, if completed, would increase the size of the
offering to $25 million U.S. The post-money valuation of this
round of financing is $320 million U.S.
This additional investment will support Ironside's rapid growth,
enabling the company to extend its leading market position. The
financing, led by CIBC World Markets and involving Yorkton
Securities Inc., is an important step in Ironside's growth as it
examines its strategic alternatives, including an Initial Public
Offering.
Pleasanton, Calif.-based Ironside Technologies Inc. develops and
markets leading-edge business solutions for electronic commerce,
enabling manufacturers and distributors to conduct business over
the Internet in real-time. Its flagship product, Ironworks,
tightly integrates with existing business logic at the
application level, allowing customers to place orders and conduct
inquiries online, with full access to current pricing and
inventory information. With industry-leading performance and the
largest installed base, Ironworks is providing forward-looking
manufacturers and distributors a way to reduce costs, expand
market reach and improve customer service. Ironworks is also
available to third party business partners as an Internet
solution that can be easily integrated with their current
offerings. Integrated Solutions include: Ironworks for eBPCS;
Ironworks for J.D. Edwards; Ironworks for JBA; Ironworks for
PRISM; Ironworks for Protean; and Ironworks for SAP. Contact
Ironside at www.ironside.com, or call 1-800-495-IRON.
Listed on The Toronto Stock Exchange under the trading symbol
BSP, Beamscope is one of Canada's leading sales, marketing and
distribution companies of brand name home office products, home
computer software, video entertainment products and digital
entertainment products for some of the world's top manufacturers.
In addition to Beamscope's core business it has interests in two
other ventures, Ironside Technologies Inc. and Unisel Holdings
S.A., a joint venture in Latin America, which distributes
computer products in Chile, Argentina and Brazil. Beamscope can
be found at www.beamscope.com.
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For more information contact:
Larry Wasser
Chairman and CEO
(416) 966-0000
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