Oracle is investing in this XML tools company. Anybody on how their XML server compares with Excelon's.
SANTA CLARA, Calif., April 24 /PRNewswire/ -- Netfish Technologies, Inc., a leader in XML-based business-to-business e-commerce solutions, today announced it has completed a $30 million mezzanine round of equity financing with a group of investors led by Bain Capital, Inc. Oracle Corporation (Nasdaq: ORCL) also became a new investor, while Whitney & Co. added to their existing stake in this private preferred stock financing.
Proceeds from the funding will be used as working capital to accelerate sales and marketing activities for Netfish's new business unit created to deliver the Netfish XDI© eProcess? platform, as well as for the company's flagship Netfish XDI System. The Netfish XDI eProcess platform, introduced in March, is a unique set of business tools and services that make it easy for portal operators to implement and administer advanced B2B services. By transforming their current B2B e-commerce marketplaces into next-generation process hubs, the Netfish XDI eProcess platform makes it possible for portal operators to unify their enterprise customers' incompatible ERP, EAI and EDI systems, facilitate any-to-any electronic business document exchange, ensure end-to-end transaction security over the Internet and automate and manage the work flows for complex B2B transactions.
"We are pleased to have the support and resources of such experienced and well respected investors as Bain Capital and Whitney as we continue to develop and expand our operations," said Ravi Iyer, founder and CEO of Netfish. "The support from Oracle further testifies to the strength of our product compared to competing offerings. This is an exciting time for Netfish as we begin to fulfill the true promise of B2B e-commerce, and we look forward to working with these partners to achieve our vision."
"As enterprises increasingly leverage the Internet to exploit the advantages of B2B e-commerce, they will require powerful infrastructure software to support different types of interactions at very high throughputs. We believe Netfish will play an important role in enabling B2B interactions and are excited about becoming investors in the company," said Ed Brakeman, managing director, Bain Capital, Inc.
"After a review of the business-to-business integration market, Oracle has concluded that Netfish's XDI server offers a broad range of critical functionality and capabilities. Netfish's technology provides a very complete and systematic solution for this rapidly growing and increasingly important space," said Gary Bloom, executive vice president, Oracle Corporation. "We are excited to become an investor in Netfish."
"Whitney is delighted about adding Bain Capital and Oracle as investors in the company. This financing will enable the company to continue to capitalize on the tremendous opportunity it has in the B2B infrastructure software market," said Mike Stone, general partner, Whitney & Co.
The Gartner Group estimates that the B2B e-commerce market will top $7 trillion by 2004. Forrester Research estimates that by 2004, 53 percent of these transactions will occur through process hubs (eHubs) like those made possible by the Netfish XDI eProcess Platform.
About Bain Capital, Inc.
Bain Capital, Inc. is one of the most experienced and successful private equity investors in the United States. Since its founding in 1984, Bain Capital has invested in more than 150 companies and currently manages more than $6 billion of capital. Bain Capital's strategy is to invest in companies with exceptional management teams and build the long-term value of those businesses. More information about Bain Capital can be found at bain.com .
About Whitney & Co.
Founded in 1946, Whitney & Co. is a global manager of alternative assets including private equity and debt as well as public equity and debt. The firm's rich history is marked by the success of such companies as Compaq Computer, Minute Maid Corporation, Wellfleet Communications and others. Today, Whitney manages well over $5 billion invested in both private and public equity and debt, and remains a leader in the investment world.
About Netfish Technologies
Netfish Technologies is a leading provider of XML-based business-to- business e-commerce solutions. The world's top internet-enabled companies such as Cisco Systems and Sun Microsystems use the highly scalable advanced technology from Netfish for enabling B2B e-commerce with their customers, suppliers and partners. Netfish was selected as one of the "Top 4 Most Innovative Solutions" by Oracle. Founded in 1997, Netfish is based in Santa Clara, CA. Netfish is available on the World Wide Web at netfish.com or via email at info@netfish.com.
Netfish Technologies and XDI eProcess? are trademarks, and XDI is a registered trademark of Netfish Technologies, Inc. |
