A little more background on Chrysalis.
I think that this relationship between Mosaid and Chrysalis could be huge for Mosaid. Having Intel involved with Chrysalis does not hurt either. Chrysalis is a private company for now but expect to see it go IPO in the not to distant future. I am a shareholder in Mosaid and own through Capital Alliance Ventures shares in Chrysalis. Just my 2 cents but if you are interested in early stage high tech companies look at the stable of companies CAV has. CAV web site is www.cavi.com
phone #1-800-304-2330 or 613-567-3225. IMHO CAV has a plethora of winners.
Chrysalis-ITS Closes over $9 Million US in New Financing
February 1, 1999 – Chrysalis-ITS, a leading provider of high-performance security
processing products for the networking industry, today announced the closing of over
$9 million U.S. in private financing. The lead investor is J.L. Albright Venture Partners
Inc., and additional funding came from Centara Corporation, Intel Corporation, Mosaid
Technologies Inc. (TSE: MSD), and original investors.
"Demand for Chrysalis-ITS products is surging worldwide," said Mark Young, chief
financial officer, Chrysalis-ITS. "Funding from new investors JLA and Intel as well as
from existing investors will be used to finance new product initiatives and help us to
further market expansion."
The latest round of financing adds two new members to Chrysalis-ITS' board of
directors. Stuart Lombard, vice president of J.L. Albright Venture Partners, and David
Graves, president and CEO of Centara Corporation are new directors of the board. Mr.
Lombard was founder of both Inforamp, which was acquired by Istar, and Isolation
Systems, which was acquired by Shiva Corporation (Nasdaq: SHVA). Mr. Graves is
the founder of Broadband Networks, which was acquired by Northern Telecom for $600
million in 1998.
"JLA is excited to invest in Chrysalis-ITS, given the quality and success of their
existing products and the vision and direction of their future technology and products,"
said Stuart Lombard, vice president J.L. Albright Venture Partners. "We look forward
to watching the company grow and build on their success."
"Intel believes the networked computing industry's demands for enhanced security and
performance are accelerating," said Michael Glancy, General Manager of the Platform
Security Division at Intel Corporation. "Technology such as Chrysalis' can help protect
electronic information, and help enhance computing platforms such as Intel
Architecture-based PCs for applications like electronic commerce, Internet firewalls,
and certificate authority servers."
"Centara is impressed with Chrysalis-ITS, their technology, their solid management
team, and their strategic business partnerships," said David Graves, president,
Centara Corp. "We are certain that their growth and product innovation will secure a
leading position in this exciting industry."
About the New Investors
J.L Albright Venture Partners is a venture capital firm that invests in emerging
information technology companies with exceptional prospects for growth. JLA selects
businesses that possess strong fundamentals, superior products and/or services.
Centara Corporation participates as a value-added investor. In addition to providing
equity capital, Centara brings a wealth of expertise and industry knowledge to its
investees. Centara Corporation provides venture capital and management skills for the
development of companies in the high tech and telecom areas.
Mosaid Technologies is a leading semiconductor design company. Mosaid designs
advanced chips, including both standard memory and integrated solutions such as
Application Specific Memory (ASM) and system-on-a-chip, and also designs,
manufactures and markets engineering test systems for memory chips. Mosaid's
position and partnerships in the industry provide the company with a unique and
comprehensive understanding of technology trends and directions.
Original investors who invested in the latest round of financing include: the Business,
Engineering, Science and Technology Discoveries (BEST) Fund Inc., Capital Alliance
Ventures Inc., Furneaux and Co. and Novacap Investments Inc.
About Chrysalis-ITS
Chrysalis-ITS, Inc. is a leading provider of high performance security processing
products for the networking industry. Its industry leading Luna technology is uniquely
positioned to enhance the trust and performance of Certification Authority and Virtual
Private Networking applications. Chrysalis-ITS products include: Luna CA3, the
leading certificate authority hardware security product; Luna 2, the widely used
encryption token that adds portability and security to digital certificate-enabled
desktops; and Luna VPN the industry's top performing VPN cryptographic
accelerator.
Chrysalis-ITS' advanced cryptographic technology is used in some of the most widely
known enterprise security solutions from Baltimore Technologies, Checkpoint
Software Technologies Inc., Digital Signature Trust, Entrust Technologies Inc., IBM,
Netscape, VeriSign, and Xcert International Inc. The company's World Wide Web site
is www.chrysalis-its.com.
# # #
For further information:
Chrysalis-ITS Inc.
Sandra Catana Finlay
Tel: (613) 723-5077 x234
Email: scatana@chrysalis-its.com |
