MigraTEC Raises Additional Capital
June 03, 2003 11:25:00 AM ET
DALLAS--(BUSINESS WIRE)--June 3, 2003--MigraTEC, Inc. MIGR (the "Company") announced today that it has closed the first tranche of a private investment in the Company expected to total between $1.5 and $2.0 million dollars. The remaining tranches are expected to close by June 30, 2003.
As indicated in the press release issued on May 15, 2003, MigraTEC has been seeking additional external capital. The proceeds from this financing will be used by the Company to deliver on existing customer contracts, pursue selected new revenue opportunities and evaluate and pursue long-term strategic alternatives for the Company.
About MigraTEC
Based in Dallas, MigraTEC, Inc. is a leading provider of application migration solutions. MigraTEC's solutions support the cross-platform migration of C/C++ based application software among 32-bit operating systems, such as from Solaris(TM) to Windows(R) and Solaris(TM) to Linux(R), and upgrading 32-bit applications to 64-bit architectures, such as the Intel(R) Itanium(R) and AMD Opteron(R) based platforms. In addition, MigraTEC offers solutions to migrate applications from OS/2. MigraTEC's solutions make it possible for independent software vendors (ISVs), service providers and corporate and government enterprises to dramatically reduce the risk, time and cost associated with software migration projects.
MigraTEC, Inc. is publicly traded on the OTC Bulletin Board under the symbol "MIGR." For more information, visit migratec.com.
MigraTEC, 32Direct and 64Express are trademarks of MigraTEC, Inc., Dallas, Texas, USA.
Forward-Looking Statements
The statements contained in this release that are not purely historical are forward-looking statements that may involve risks and uncertainties. The Company's actual results may differ significantly from the results contained in the forward-looking statements. These risk factors are discussed in the Company's filings with the Securities and Exchange Commission on Forms 8-K, 10-QSB and 10-KSB.
Contact Information:
MigraTEC, Inc., Dallas
Investor Relations, 972/969-0385
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