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ONSET TECHNOLOGY SECURES $3.5 MILLION INVESTMENT FROM LEADING INTERNATIONAL INVESTORS
Santa Cruz, Calif.--Dec. 10, 2001-- Onset Technology, a leading provider of message-conversion technology, today announced it has received a $3.5 million capital investment from the Challenge Fund, the FLV Fund, Hollinger Digital Inc., the Intel Communications Fund, MAG Ventures and Poalim Electronic Communication. The investment comes from the same group that had provided funding to Onset in its initial round of financing. Further details of the funding were not disclosed.
Funds from the investment will be used to support further expansion of sales and development efforts for Onset�s METAmessage offerings, solutions that bridge messaging systems and aim to make any type of message - email attachment, fax, or voice - accessible and manageable on any type of communication device. The investment in Onset from the Intel Communications Fund was made in support of Onset�s commitment to develop an optimized version of its METAmessage using the CT Media* software platform.
Onset�s METAmessage for Wireless offerings give users the ability to read or print email attachments and Web pages from URL links; get corporate contact information from Exchange global address lists and Lotus Notes address books; view Excel spreadsheets and PowerPoint slides with their original format intact; and receive faxes. Current customers include Bechtel, PepsiCo, Raytheon and Pfizer amongst others.
"This latest round of funding, which will be used to fund business expansion, should help us move toward our goal of achieving profitability in the near-term," said Gadi Mazor, president and CEO of Onset.
"Onset�s METAmessage meets the overwhelming demand from today�s mobile users to have continuous, simple access to their messages - anytime and anywhere," said Itsik Gat, lead investor for Poalim Electronic Communications. "Our additional investment in Onset emphasizes our strong belief that this market need will continue to expand and that Onset�s solution will continue to lead the industry in meeting that demand."
About METAmessage
Onset�s METAmessage for Wireless offerings give users the ability to read or print email attachments and Web pages from URL links; get corporate contact information from Exchange global address lists and Lotus Notes address books; view Excel spreadsheets and PowerPoint slides with their original format intact; and receive faxes.
The family of METAmessage for Wireless solutions is comprised of: METAmessage.com a simple, cost-effective, Internet-based ASP solution for workgroups and individuals; the METAmessage Conversion Server - Enterprise Edition, a highly scalable solution intended for corporations worldwide for whom "behind-the-firewall" security is especially important; and the METAmessage Conversion Server - Carrier Edition for server-farm-based environments such as telcos, ASP�s and ISP�s.
About the Intel Communications Fund
The $500 million Intel Communications Fund invests in companies supporting Intel's key programs and initiatives in voice and data communications, as well as wireless communications and computing efforts. The fund, which makes minority equity investments of typically less than $10 million, is focused on companies developing solutions based on CT Media*, Intel* Internet Exchange Architecture, Intel* Xscale* Microarchitecture and Intel* Personal Internet Client Architecture. The fund, created in 1999, is managed and controlled by Intel. For more information, visit www.intel.com/capital/investment/icf.htm. CT Media is an open software platform for designing standards-based telecommunication servers that support computer telephony applications such as messaging, fax, automatic call distribution and other applications from different vendors. Intel and its Dialogic subsidiary are committed to making the CT Media platform the centerpiece for enabling converged voice and data Internet solutions.
In Israel, Intel Capital invests through Intel Atlantic Inc., a subsidiary of Intel Corporation. For information, visit www.intel.com/capital.
About Onset Technology
Onset Technology is a leading provider of solutions that convert messages -- including email attachments, fax, and voice - into device-independent information that individuals and businesses can easily and immediately access and use. The company�s METAmessage for Wireless and ThruFax solutions are available as ASP service offerings for individuals and workgroups, enterprise offerings for corporations, and as carrier offerings for telco, ASP and ISP providers. Onset�s scalable solutions are built around its robust, patent-pending technologies and are sold by its extensive network of VARs, systems integrators and resellers. Onset partners with major industry vendors, including Compaq, Intel, Microsoft, and Wireless Knowledge, to create market-specific Onset software solutions and to support seamless product and system integration. Onset�s U.S. corporate headquarters are located at 111 Mission St., Santa Cruz, Calif., 95060, phone (831) 471- 1360, fax (831) 471-1364.
Media Contact Info: Audrey Webb, aMate Comm., (408) 402-0927;
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