MimEcom and Rare Medium Form Strategic Alliance to Provide End-To-End Solutions for Building and Operating High-Performance E-businesses
SAN FRANCISCO--(BUSINESS WIRE)--Aug. 22, 2000--
Rare Medium Participates in Equity Investment
in MimEcom Corporation
Rare Medium (Nasdaq:RRRR), a leading Internet solutions provider, and MimEcom, a privately held, leading provider of Application & Infrastructure Management(SM) (AIM) services, today announced a strategic alliance to rapidly build, deploy and manage e-business Web sites. The alliance will leverage Rare Medium's expertise in developing high-performance sites and MimEcom's expertise in monitoring and operating them. The two companies will jointly develop a Unix-based reference architecture for the rapid deployment of high volume e-commerce sites and create joint marketing and sales campaigns aimed at promoting and generating demand for the MimEcom-Rare Medium end-to-end solution.
In addition, Rare Medium Group, Inc. announced it has invested in MimEcom Corporation's second round financing. Led by Baker Capital and Azure Capital Partners, other participants include Aman Ventures, Boston Millenia Partners, Putnam, Wheatley Partners, Blue Vector, and Credit Suisse First Boston. Returning in this round are Weiss, Peck & Greer Venture Partners and Spectrum Equity Investors; both were significant investors in MimEcom's initial round of funding. The decision represents a strategic investment for Rare Medium, whose award-winning Internet services business will provide a sales channel to MimEcom.
As part of the alliance, the two companies are building standards-based site architectures on Unix platforms and an extensive training and certification program to ensure successful integration of MimEcom's AIM services into Rare Medium's methodology and application development service offering. In addition, MimEcom and Rare Medium will cooperate on the research and development of additional AIM service offerings to advance the performance capability, reliability and scalability of mission-critical, high-growth web sites.
MimEcom provides a complete Application & Infrastructure Management (AIM) solution for high-growth e-commerce sites. MimEcom's solution addresses all the requirements of AIM including architecture and system sizing, rapid system deployment, 24x7 monitoring and management, risk management and growth management. At the core of MimEcom's solution is the MimEcom Service Automation Platform(TM) that speeds deployment of large-scale sites and ensures robust ongoing operations.
"We believe MimEcom's platforms for operating and managing highly complex Web sites are the best in the industry and will provide an ideal solution for clients who don't have the resources or experience to manage sites on their own," said Brian Francis, senior vice president of marketing and global alliances for Rare Medium.
"MimEcom provides customers with all the services necessary to architect and operate business-critical Web sites and Rare Medium brings deep expertise in application development. Through this alliance, we will be able to build highly optimized architectures designed to eliminate post-deployment issues and maximize performance, scalability and ensure robust security," said Bill Doss, vice president business development at MimEcom. "Rare Medium is a key strategic partner for us. Together we offer customers a complete, best-of-breed solution for development and management of high-end sites."
About MimEcom
MimEcom is a leading provider of Application & Infrastructure Management(SM) (AIM) services for large-scale e-commerce sites requiring mass customization. MimEcom services Global 2000 companies and fast growing Internet-centric companies. At the core of MimEcom's AIM services is the MimEcom Service Automation Platform(TM) that speeds site deployment and provides automated 24x7 ongoing management and monitoring.
Accountable for a customer's entire e-commerce infrastructure and 24x7 operations, MimEcom's unique solution is a complete outsourced alternative for business-critical e-commerce sites. The San Francisco-based, privately held company was founded in September 1999. The senior management team and founders include executives from EDS, Fort Point Partners, AOL/Netscape, IBM, MarchFIRST, Oracle and Sun Microsystems. For more information, visit mimecom.com.
About Rare Medium Group, Inc.
Rare Medium invests in next generation Internet companies and provides end-to-end Internet Services. Rare Medium incubates, finances and manages private companies and also makes strategic investments in independently managed companies that it believes possess superior Internet-focused business models. Rare Medium's Internet Services include development and authoring of business plans and strategies; strategic, creative and technological consulting for Web initiatives; on-line brand development and management; development of content for broadband and wireless applications; and launch of on-line commerce trading exchanges. Rare Medium leverages its Internet Services expertise to increase the overall success of the companies in its investment portfolio.
Rare Medium employs over 1,100 people in more than 20 locations worldwide. For more information, visit raremedium.com.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Rare Medium Group Inc., and its subsidiaries' business and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Rare Medium's limited operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms and those risks discussed in the company's filings with the SEC.
Note to Editors: Application & Infrastructure Management (AIM), and Service Automation Platform are trademarks, registered trademarks or servicemarks of MimEcom Corporation.
CONTACT:
Ogilvy Worldwide (for MimEcom)
Orlando de Bruce, 415/644-3117
orlando.debruce@ogilvypr.com
or
Rare Medium
Elena Rohweder, 469/791-3702 (Off.) / 214/679-7136 (Cell)
pr@raremediunm.com
or
Wall Street Investor Relations Corp. (for Rare Medium)
Joseph M. Zappulla, 301/907-4090
joez@wallstreetir.com
KEYWORD: CALIFORNIA
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