re: VIGN
Wednesday February 7, 9:01 am Eastern Time
Press Release
Vignette Spins Off Software Company to Develop Next-Generation Data-Enhanced Wireless Communication Applications
SoloMio Receives $6 Million First Round Funding From Vignette and Austin Ventures To Support the Development and Marketing of Software for Next-Generation Mobile Networks
AUSTIN, Texas--(BUSINESS WIRE)--Feb. 7, 2001-- Vignette Corp. (Nasdaq:VIGN - news), the leading supplier of customer-driven Internet applications, today announced that it has formed an independent company, SoloMio Corp., to develop an entirely new type of software application for the wireless carrier market.
SoloMio, Vignette®'s first incubator concept to be spun-off, will provide telecommunications carriers with personalized, data-enhanced voice services for their mobile customers.
Based on the convergence of Internet and wireless technologies, SoloMio is developing large-scale applications that enable wireless carriers to provide unique and compelling services over new data networks.
Through the use of advanced e-business and personalization technologies, these services will fundamentally enhance the way people communicate and will aid wireless carriers in realizing increased speed of adoption of new 2.5 and 3G networks along with greater revenues per subscriber.
SoloMio has secured an initial $6 million in venture funding from Vignette and Austin Ventures and will use its initial round to develop and market its software applications for GPRS and UMTS systems, with plans to focus initially on the European wireless market.
The patent-pending technology is a large-scale network application, driving the integration of data capabilities into mainstream communication networks and delivering scalability, reliability and modularity to operate in high-availability environments.
``Vignette is pleased to play a major role in founding SoloMio to foster innovation in the mobile communications industry,'' said Greg Peters, president and CEO of Vignette. ``With Vignette's successful track record with telecommunications companies worldwide, this is an opportunity for SoloMio to apply e-business software technology to revolutionize mainstream voice communication through personalization.''
Richard Schwartz, former senior vice president and general manager of convergence applications at Vignette, founded SoloMio and will serve as president and CEO. Schwartz joined Vignette in 1999 through the acquisition of Diffusion, where he was founder and CEO. Laurie Frick, former senior vice president of marketing at Vignette, also joins the SoloMio management team. Board members include Bill Daniel, senior vice president of products at Vignette; John Thornton, general partner of Austin Ventures; and Schwartz.
``As Europe begins to deploy 2.5 and 3G networks, followed by deployments in Asia and the United States, there is an enormous opportunity right now for companies that can deliver advanced data applications to mobile users,'' Schwartz said. ``The goal of SoloMio is to provide data services applications that will fundamentally improve voice calling.''
About Vignette
Vignette Corp. (Nasdaq:VIGN - news) is the leading provider of customer-driven Internet applications used by the most demanding and successful organizations in the world. Vignette's products allow businesses to create and extend relationships with prospects and customers and to facilitate high-volume transaction exchanges with suppliers and partners, all of which enhances customer satisfaction. Vignette powers more than 1,250 leading e-businesses. Headquartered in Austin, Texas, Vignette has offices located throughout the Americas, Europe, Asia and in Australia and can be found on the Web at vignette.com.
About SoloMio
With offices in Austin, Hamburg and London, privately held SoloMio Corp. is an independent company, incubated by and spun-off from Vignette Corp. Founded in 2000 to develop advanced data applications to enhance voice communications for next-generation mobile networks, SoloMio's board members include President and CEO Richard Schwartz, John Thornton of Austin Ventures and Bill Daniel of Vignette. solomio.com
Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements including statements regarding the Company's expectations, beliefs, hopes, intentions or strategies regarding the future. Forward-looking statements include statements regarding future sales, market growth and competition. All forward-looking statements included in this press release are based upon information available to the Company as of the date hereof, and the Company assumes no obligation to update any such forward-looking statement. Actual results could differ materially from the Company's current expectations. Factors that could cause or contribute to such differences include, but are not limited to, future losses, limited operating history, fluctuation of quarterly revenues and operating results, competition, dependence on a small number of large orders, lengthy sales cycle and product implementation, acquisition integration, market awareness of our product, rapid changes in e-relationships technology and new products, and other factors and risks discussed in the Company's 10K, as amended and filed with the Securities and Exchange Commission, and any reports filed from time to time with the Securities and Exchange Commission.
Vignette is a registered trademark of Vignette Corp.
SoloMio is a trademark of SoloMio Corp. |
