To: ToySoldier who wrote (26788 ) 4/28/1999 11:07:00 AM From: DJBEINO Read Replies (1) | Respond to of 42771
W.R. HAMBRECHT + CO. CREATES ALLIANCE WITH NOVELL INC. THROUGH Equity Agreement Business Editors & High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--April 28, 1999-- Novell to Take Minority Stake in Entrepreneurial Investment Bank Founded by Financial Services Leader Bill Hambrecht W.R. Hambrecht + Co., an entrepreneurial investment bank founded by industry leader Bill Hambrecht, today announced that Novell(R) Inc., (Nasdaq:NOVL), one of the world's leading technology companies, has made an investment in W.R. Hambrecht + Co. The investment by Novell, made through Novell Ventures (formerly the Internet Equity Fund), represents a minority interest in W.R. Hambrecht + Co. "Our agreement with Novell provides W.R. Hambrecht + Co. greater access to the world of technology through one of the leading companies in its industry," said Bill Hambrecht, CEO of W.R. Hambrecht + Co. "We are excited about the opportunity to tap the wealth of technological insight at Novell. There is no smarter CEO in Silicon Valley than Novell's Eric Schmidt, and I personally look forward to working with him as we move forward." "Our relationship with W.R. Hambrecht + Co. will provide us a valuable lens through which we can view developments at the intersection of technology and capital markets," said Dr. Eric Schmidt, Novell Chairman and CEO. "We are enthusiastic about working with Bill Hambrecht and his team. Together, we can use networking technology to bring a fresh approach to wealth creation and the world of investment banking." As a growth company, W.R. Hambrecht + Co. looks for strategic capital to fund its ongoing business objectives. Novell's investment will help W.R. Hambrecht + Co. pursue a wide variety of growth and new business objectives to which it is committed. In February 1999, W.R. Hambrecht + Co. launched its OpenIPO system, an auction-based method of taking companies public on the Internet, and has quickly moved to the forefront of technology-driven investment banking companies. Novell Ventures Novell Ventures promotes Novell's interests in advancing innovative networking technologies. The $50 million fund typically makes investments in development-stage software companies that are in their first or second rounds of financing. The fund is focused on software products that support NDS and Java applications that run on servers, such as Novell's NetWare 5, for distribution across networks. Companies interested in the Fund can find more information about it at developer.novell.com . W.R. Hambrecht + Co. W.R. Hambrecht + Co. offers a full range of financial services that builds on its stated "early investing" philosophy focusing on emerging companies. Founded in January 1998 by Silicon Valley pioneer Bill Hambrecht, W.R. Hambrecht + Co. became a licensed broker-dealer in July 1998. The company is active in investment banking, private equity, research, trading and electronic underwriting through its OpenIPO system. Initially, W.R. Hambrecht + Co. is focusing on three growth industries significantly affected by new technological developments: software, the Internet, and branded consumer products.