To: Jerry Whlan who wrote (4040 ) 1/13/2000 8:42:00 AM From: i-node Read Replies (3) | Respond to of 5102
A little news.... Thursday January 13, 8:02 am Eastern Time Company Press Release SOURCE: Inprise Corporation Inprise/Borland Announces Venture Fund Company to Make Investments in Wireless and Linux Technologies NEW YORK, Jan. 13 /PRNewswire/ -- Inprise/Borland's (Nasdaq: INPR - news) interim president and chief executive officer Dale Fuller today announced plans to invest $60 million in start-up businesses focused on wireless technologies, Internet Access Infrastructure, and Linux applications and technologies. The announcement was made today at the Needham & Company's 2nd Annual Growth Conference in New York City. (Photo: NewsCom: newscom.com ) ''Technology companies can no longer expect to build it all,'' said Fuller. ''Start-ups are able to move more aggressively and respond to market opportunities more quickly than established, larger companies. This new model will allow us to leverage our strong technological and intellectual property strengths, while ultimately delivering more complete solutions to the marketplace. We believe this partnering approach, which preserves the independent entrepreneurial spirit of the start-up, will yield far better results than acquiring the companies outright.'' ''There are numerous quality investments we can make right away which are central to our strategy, which is to help companies conduct business over the Internet,'' said Fuller. ''We expect to invest primarily in start-ups whose missions reinforce our primary initiatives -- to provide services to ASPs, business to business E-commerce, and Linux markets.'' Equity stakes will usually be limited to 20% or less, and Inprise/Borland will act as a ''startup catalyst'' to assist the company in its formative stages. ''Our role will be to assist them in getting to market as quickly as possible,'' said Fuller. ''In addition to capital, we can provide access to our award-winning development tools and Internet Infrastructure Access products, our patent portfolio and technologies, and our distribution network and data center infrastructure. Our strategy is to help establish them and then stay out of their way.'' The investments will be reviewed by a committee consisting of Inprise/Borland's Dale Fuller and the company's CFO, Fred Ball, and two outside directors, Bill Hooper and Robert Coates