| For Immediate Release |
Contact:
Jeremy Milner
401-862-9422
jeremy@jeremymilner.com
Courtney Chandler
617-375-4217
courtney@revolutionpartners.com |
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REVOLUTION PARTNERS
ADVISES SEAPORT SOFTWARE
BOSTON, MA (November 18, 2002) -, Softricity, Inc.,
a developer of the SoftGridTM application deployment and
management platform, announced that it has acquired Seaport
Software, Inc. in an asset sale. Revolution Partners, LLC
acted as exclusive financial advisor to Seaport Software.
By adding Seaport Software’s technology and intellectual
property to Softricity’s application deployment and
management solution, Softricity is now uniquely positioned
to offer proprietary solutions that enable software to run
on Windows desktops and terminal servers without being installed
locally.
"Softricity now has the technology and intellectual
property, as well as the partnerships to be the leader of
the next-generation of on-demand application deployment and management, " said
Harry Ruda, CEO, Softricity. "We
are unique in being the only company who can now offer Windows
applications that can execute - but are never installed - on desktops and terminal
servers." |
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| About Seaport
Software
Seaport Software, formerly known as Into Networks, was founded in
1996 by a team of MIT Media Lab veterans and is headquartered in
Boston, MA. Seaport Software has world class funding partners, including
Cox Communications and Fidelity Ventures, and
has deployed its patented technology with blue chip companies for
more than three years. During the three years from 1999-2001, the
Company, focused on a strategy of licensing its technology platform
and server network to communications companies, media
companies, software publishers and Internet portals to provide consumer-focused
software-on-demand service. In early 2002, the Company re-launched
its technology to address the needs of the enterprise market and
subsequently formed Seaport Software
Solutions to focus on this significant emerging market opportunity.
Revolution Partners is one of the nation's largest investment banks focused exclusively on Mergers & Acquisitions and Private Capital Fundraising Advisory Services for technology companies. All of our clients benefit from senior-level attention from partners with deep sector expertise.
Revolution Partners was founded in 2001 by former senior technology bankers from major Wall Street investment banks. With offices in Boston, San Francisco and Los Angeles, Revolution applies partner-level experience to the successful execution of advisory and financing transactions for emerging technology companies in industry sectors including software, Internet business services, telecommunications, wireless, clean tech, digital media, storage and semiconductors. For more information, visit www.revolutionpartners.com. |
