Xyvision Enterprise Solutions Raises $6 Million Equity Investment
9 February 2000
Xyvision Enterprise Solutions Raises $6 Million Equity Investment; Funding to Enhance Development of XML Products, Sales and Marketing
READING, Mass.--Feb. 9, 2000--Xyvision Enterprise Solutions, Inc. (XyEnterprise), a leading developer of XML content management and publishing, announced that it has sold $6 million of its common stock to investors in a private placement. The investors included several new institutional and private entities, including Pennsylvania Merchant Group and Friendly Capital, and existing investor Tudor Trust, an entity controlled by Jeffrey L. Neuman, Chairman of the Board of XyEnterprise. XyEnterprise sold the common stock primarily for cash and some debt forgiveness. XyEnterprise will use the proceeds of the offering to expand its global sales and marketing efforts and further the development of its XML content management and publishing software."This financing will enable us to expand our marketing efforts and enable us to apply our XML expertise and experience in the growing market for XML solutions," said Kevin Duffy, President and CEO of XyEnterprise. "As we position our software for a broader variety of e-business applications, we will use this funding to add OEM and VAR partners, enhance our direct sales efforts, and fund new market initiatives in the areas of e-commerce interaction, web-content delivery and dynamic XML interactions."
Duffy added, "With our recent sales to Sun Microsystems and Freightliner, we are energized by the market interest in our XML and SGML publishing and content management solutions. Our Parlance Content Manager, Content@, and XyEnterprise Production Publisher software continue to provide powerful solutions for XML content management and high-end publishing challenges."
Richard Hansen of Pennsylvania Merchant Group said, "XyEnterprise is one of the few proven providers of comprehensive XML solutions. We are pleased to make this investment and look forward to working with the new management team as they progress into this burgeoning market."
Warren Trepp of Friendly Capital LLP commented, "Friendly Capital invests in a broad range of emerging technologies and we are very excited to add XyEnterprise and their proven technology to our portfolio."
Jeffrey L. Neuman, Chairman of the Board of XyEnterprise said, "Our reputation as a technology leader in the XML content management market, our strong management team and opportunities for our continued growth were well received in the investment community. I look forward to the expansion of our business."
About XyEnterprise
With headquarters in Reading, Mass., Xyvision Enterprise Solutions, Inc. (XyEnterprise) provides its customers with complete XML content management solutions that streamline their information creation and delivery processes. XyEnterprise combines its own publishing and content management software with integration services and best-of-breed technologies to build enterprise-wide solutions for the collaborative creation, management and distribution of information. Its customer base includes industry-leading companies in the high-tech, aerospace, automotive, networking, standards and publishing markets. These customers include Boeing, IBM, Sun Microsystems, Telcordia, Lucent, The Bureau of National Affairs, and many others. For more information, please contact XyEnterprise at (781) 756-4400 or visit XyEnterprise on the web at http://www.xyenterprise.com/.
Xyvision, XyEnterprise, XPP are trademarks or registered trademarks of Xyvision Enterprise Solutions. All other product and company names mentioned herein are trademarked of their respective holders.