VeriCenter Announces $11.5 Million Investment From BMC Software, Broadband Venture Partners, Intel Capital
HOUSTON(BUSINESS WIRE) -- Nov. 27, 2000 -- VeriCenter Inc. announced today that it has completed an $11.5 million financing from BMC Software Inc., Broadband Venture Partners, LLC of Dallas, Intel Capital, and other investors. The funds will be used primarily to expand VeriCenter's operations, particularly sales and marketing.
VeriCenter is a Houston-based application service provider (ASP) formed in 1999. VeriCenter's service offering allows business customers to access software and computer services over the Internet for a low monthly fee. VeriCenter hosts and manages application software from its world-class data center in Houston. The Company specializes in hosting e-commerce and other advanced Web applications, messaging and collaboration applications, and Internet-based telephony.
"This financing sets the stage for us to reach the next level in our growth strategy," said Roger Ramsey, chairman and CEO of VeriCenter. "We value our strategic relationships with BMC Software and Intel Capital, so we are thrilled to add these companies as shareholders of VeriCenter."
"VeriCenter provides a compelling solution for growing businesses who want to focus on managing their business rather than their infrastructure," said Kirill Tatarinov, senior vice president and chief technology officer at BMC Software. "As the Internet continuously changes the way we communicate and collaborate, business customers increasingly will choose to turn to ASPs for advanced solutions. VeriCenter is leading this trend with their high-quality ASP solutions."
"The Internet is accelerating the convergence of communications and computing. VeriCenter is tapping the power of this convergence by utilizing Intel products to deliver faster Web site performance and lower operating costs for its hosting customers," said Scott Richardson, general manager, Internet Management and Appliance Division at Intel Corporation.
About BMC Software
One of the world's largest independent software vendors, BMC Software delivers the most comprehensive e-business systems management software with the fastest guaranteed implementation. This Service Assurance" strategy enhances the availability, performance and recoverability of companies' business-critical applications. Companies can use this management methodology to demonstrate their ability to deliver optimal service to their customers and partners by joining BMC Software OnSite", a certification program which includes solution implementation and regular HealthChecks performed by BMC Software Professional Services.
BMC Software is a Forbes 500 company and a member of the S&P 500, with fiscal year 2000 revenues exceeding $1.7 billion. The company is headquartered in Houston, Texas, with offices worldwide. For more information please visit BMC Software's Web site at www.bmc.com, or call 800/841-2031 or 713/918-8800.
About Broadband Venture Partner
Based in Dallas, Broadband Venture Partners, LLC (BVP) provides equity capital and value-added services to privately held growth companies, focusing on the Application Service Provider (ASP) industry. BVP portfolio companies include ComSpace Corporation, Cynergy System Design Inc., eTopware Inc., PaeTec Communications Inc., Picasso Software Inc., Tavve Software Inc., Telecom Technologies Inc. and VeriCenter Inc. For additional information, please visit the BVP Web site at www.bvpartners.com.
About Intel Capital
Intel capital, Intel Corporation's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital.
VeriCenter Inc., Houston