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SkyDesk Receives $20 Million in Funding

Qualcomm and Hikari Tsushin committed a combined $20 million in funding to SkyDesk, Inc., the company announced yesterday.

ASP SkyDesk, Inc. focuses on delivering data storage and document management solutions to small and medium-sized businesses and individuals.

According to a release, the investment proceeds will support the development of wireless products and services that will expand the management of electronic information using Internet-based technology.

Gary Sutton, chief executive officer, said the investment by Qualcomm and Hikari Tsushin supports the company's plans to support mobile devices. "We are committing to serving emerging markets and to applying our core competencies to new applications,"

ADIC made a $7 million investment in the company in August 1999. Other companies to contribute funding include EMC, Enterprise Partners, Merrill Lynch, Cendant Corporation, Alta Partners, American Express and Crest Communications.

This announcement comes shortly after SkyDesk filed a registration for its IPO in Mach. The IPO will be managed by Donaldson, Lufkin & Jenrette Securities Corporation, Salomon Smith Barney Inc., Bear, Stearns & Co. Inc. and DLJdirect Inc.

SkyDesk was formerly known as @Backup, but changed its name earlier this year to reflect its vision to become the premier provider of complete B2B Internet storage solutions.