Another new SFE investment. Interesting in that it's w.coast, not even a PA company this time!
Tuesday July 7, 8:13 am Eastern Time
Company Press Release
SOURCE: Safeguard Scientifics, Inc.
Safeguard Scientifics Acquires Equity Interest in Arista Learning Systems, Inc.
WAYNE, Pa., July 7 /PRNewswire/ -- Safeguard Scientifics, Inc. (NYSE: SFE - news), the New York Stock Exchange-listed strategic information systems
company and its affiliated venture fund, Pennsylvania Early Stage Partners, have acquired a fully diluted combined ownership interest of approximately 48.5%
in Arista Learning Systems, Inc. (Arista), the Alameda, CA firm that provides complete solutions for the management of information and knowledge in global
applications.
Founded in 1997, Arista's first product, Accredix(TM), targets the Internet-based, distance learning market, enabling users to manage and deliver any digital
content, track activity with all learners, accommodate commercial transactions, protect intellectual property rights, and report learner activities and progress in
extreme detail. Accredix(TM) can perform these functions on a real-time basis while acting as a flexible, network-based interface for learners, instructors, and
managers. Users can also take full advantage of non-network, computer-based training materials using the Accredix(TM) Intelligent Agent. The company's
target markets include the military services, corporate global learning customers, and the education industry.
Citing Safeguard's strong belief that Arista brings a unique product to the field of training and learning, Pete Musser, Safeguard's chairman and CEO, stated,
''We believe the field of distance learning is a big opportunity in the Internet market for the 21st century, and we are excited to have the opportunity to
participate with Arista in this growth market.''
Commenting on the investment, Sam Poole, Arista's president and CEO, said, ''Our new partnership with Safeguard is an ideal marriage between a highly
regarded company with strengths and relationships in the information systems environment and an entrepreneurial company with innovative products in a
burgeoning market segment. We believe Safeguard will be a strategic ally in Arista's growth, and we are proud and delighted to become members of the
Safeguard family of companies.''
Safeguard Scientifics, Inc. is a unique partnership of entrepreneurial companies focused on information technology markets. Safeguard has a proven track
record of bringing emerging companies to market through rights offerings to Safeguard shareholders. Past Safeguard rights offerings include Novell, Inc.,
CompuCom Systems, Inc., Cambridge Technology Partners (Nasdaq:CATP - news; Massachusetts), Inc., Coherent Communications Systems Corporation
[Nasdaq:CCSC - news], USDATA Corporation, Integrated Systems Consulting Group, Sanchez Computer Associates, Diamond Technology Partners, Inc.,
ChromaVision Medical Systems, Inc., OAO Technology Solutions, Inc. and DocuCorp International.
Arista Learning Systems is located at 1320 Harbor Bay Parkway, Suite 250, Alameda, CA 94501. Additional information about the company can be found at
Arista's website located at www.aristasys.com or by calling the company at 510-769-8770.
SOURCE: Safeguard Scientifics, Inc. |
