NETE 03/18 09:50 Massachusetts has a Hot New Internet Firm
Massachusetts has a Hot New Internet Firm
BOSTON--(BUSINESS WIRE)--March 18, 1999--Lookout Lycos! There is a hot new Waltham, MA based Internet company Netegrity (NASDAQ:NETE) that is looking to grab mindshare and marketshare in the e-commerce arena. In an exclusive interview with the Massachusetts Investor's Digest, Netegrity CEO Barry Bycoff outlined his plans for growing the young firm, which recently established a reseller agreement with Netscape (NASDAQ:NSCP).
Located across Trapelo Road from Lycos (NASDAQ:LCOS), Netegrity might be on to something big with their SiteMinder product. As companies develop sophisticated Intranet and Extranet sites with potentially millions of users, Netegrity's SiteMinder offers a centralized software solution to control user access. In the interview with the Digest, Bycoff explains how the company's recent pact with Netscape, which recently merged with America Online (NYSE:AOL), will significantly expand the potential reach of the product.
Netegrity has also signed multi-year distribution agreements with two other Massachusetts firms. Westboro, MA based Banyan Systems, Inc. (NASDAQ:BNYN), a network software and services provider, agreed to license, market, and distribute Netegrity's SiteMinder as "Banyan SiteMinder." Netegrity has also signed a multi-year licensing agreement with Cambridge, MA based Allaire Corporation (NASDAQ:ALLR), a provider of Web application development software, to embed a subset of SiteMinder into Allaire's "Cold Fusion" application server product.
Netegrity, which traded below five dollars a share for most of 1998, started making some blips towards the $10.00 mark as the notion of e-commerce burgeoned into a reality during the Christmas shopping season. Netegrity already sports a blue chip client list including names like Deutsche Bank, EMC (NYSE:EMC), Houghton Mifflin (NYSE:HTN), and GTE Internetworking. About the Massachusetts Investor's Digest
The Digest extends famed Boston money manager Peter Lynch's claim that the individual investor can be "one up" on Wall Street professionals by focusing on local companies. By profiling only Massachusetts based, publicly traded companies and initial public offerings, the monthly Digest helps Beantown investors stay current on interesting investment ideas in "their backyard."
The Massachusetts Investor's Digest maintains an online version of the publication at its website www.massinvestor.com.
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