DataMirror invests US$4 million in PointBase Java
Technology For Wireless Devices and Internet Applications
TORONTO, CANADA--
DataMirror Participates in Latest PointBase Venture Capital
Financing
DataMirror Corporation (TSE:DMC), announced today that it has
participated in the fourth round of financing of PointBase, Inc.,
a Java database developer located in Mountain View, California.
PointBase has raised approximately US$21 million from this
financing, US$4 million of which was invested by DataMirror.
PointBase will use the funds to expand its development, marketing
and sales activities.
As a result of this financing and the exercise of certain employee
stock options, DataMirror's total share of the issued capital of
PointBase has decreased slightly to approximately 27% from 29%.
DataMirror continues to be the largest equity shareholder in
PointBase. DataMirror expects to record a non-cash gain of
approximately CDN$5 million in its second quarter financial
statements relating to its ownership dilution arising from the
issue. The gain is not subject to income taxes.
This round of financing was led by Goldman Sachs with
participation by other well-known investors. Goldman Sachs is a
global investment banking and securities firm that provides a full
range of investing, advisory and financing services world-wide to
a substantial and diversified client base, which includes
corporations, financial institutions, governments and high net
worth individuals.
The other lead investor in this round was JK&B Capital, a US$220
million venture capital firm based in Chicago. JK&B Capital was
the lead investor in PointBase's third round of financing. JK&B
Capital's founding limited partner, Charles Wang, is chairman and
founder of Computer Associates International Inc. Some recent
successful Initial Public Offerings from the JK&B Capital
portfolio include Exodus Communications, phone.com and Commerce
One. Also participating in this round of financing are existing
investors AVI Capital and Aspen Ventures, both of Los Altos, CA.
Aspen and AVI both specialize in early-stage investments in
high-technology companies positioned for breakout performance in
high-growth segments of the information technologies market.
"We are pleased to participate in this additional financing of
PointBase," said Nigel Stokes, Chairman, President and CEO of
DataMirror. "The initial interest in PointBase's technology has
been tremendous. PointBase's award winning Java database
technology is well positioned to help companies achieve
competitive advantage in the wireless post-PC era. PointBase's use
of DataMirror Transformation Server technology will ensure that
its customers can easily integrate PointBase data stores on
wireless and mobile devices with other databases dispersed across
their organization."
About PointBase, Inc.
PointBase, the leader in mobile wireless data management, creates
the technology for extending and synchronizing enterprise data
among wireless devices, Internet appliances, mobile applications,
PDA's, and networked servers. The company's 100% Pure Java
products solve the problem of managing data for applications
deployed globally across a diversity of platforms.
PointBase was established in 1998 by Bruce Scott, co-founder of
Oracle Corporation and Gupta/Centura Software, and Jeff Richey,
one of the key developers of the Sybase SQL database server. The
management team includes industry veterans from IBM, Oracle,
Sybase, Hewlett-Packard and Sun Microsystems. For additional
information on PointBase and its products, call 1-877/238-8798
(U.S. and Canada) or 650/230-7200 (International) or visit the
company's website at pointbase.com.
About DataMirror Corporation
DataMirror is a leading provider of business data integration
software. The Company's solutions provide the underlying
infrastructure required to integrate e-business applications with
operational and legacy systems. DataMirror software gives
companies the ability to ensure that data is distributed,
available, effectively managed and accessible anywhere in the
world in real-time. DataMirror software integrates data among
multiple databases including DB2, Microsoft SQL Server, Oracle and
Sybase across OS/390, OS/400, NUMA-Q, UNIX, Linux and Microsoft
Windows NT/2000. More than 1000 customers have chosen DataMirror
software to integrate their business critical data and
applications.
Founded in 1993, DataMirror is a worldwide company with
distribution in more than 30 countries. In the 2000 Profit
Magazine annual Profit 100 survey, DataMirror recently earned the
distinction of being the fastest growing software company in
Canada and the third fastest growing Canadian company across all
industries. DataMirror's 35,946% growth over the past 5 years
makes it the fastest growing software company in the 12 year
history of the Profit 100. DataMirror has corporate headquarters
in Toronto, Canada and offices throughout North America and
Europe. DataMirror is a publicly traded company listed on the
Toronto Stock Exchange (symbol: DMC). For more information, visit
the company's web site at datamirror.com.
Copyright 2000 DataMirror Corporation. All rights reserved.
DataMirror and Transformation Server are registered trademarks or
trademarks of DataMirror Corporation. All other brand or product
names are trademarks or registered trademarks of their respective
companies. |
