announced today that Sun Microsystems, Inc.
has made a commitment valued at up to US$10 million to the Toronto e-Enabling ASP.
The commitment includes a cash equity component of up to a possible US$2 million, with the first $1 million already granted. The remaining $1 million to be dispersed upon InfoCast meeting certain agreed upon benchmarks. The commitment also includes a lease line of credit, and the provision of preconfigured development systems under the guidelines of the Sun iForce Startup Accelerator program. InfoCast will use the funds to expand its network computing infrastructure and accelerate its growth as a pure play Sun ASP.
“This marks the achievement of a major milestone in our development,” said Jim Leech, InfoCast’s president and CEO. “Sun’s commitment to our business allows us to move forward with full confidence as we market our unique e-Enabling solutions, delivered through a reliable ASP model.”
InfoCast has built a complete solution around several core applications designed to work together as a single platform for customer care and employee/partner empowerment, including InfoCast Contact, InfoCast eLearning, InfoCast Community and InfoCast Hosting.
“By providing technology that allows users to access content and applications anywhere at anytime, InfoCast clearly shares Sun’s vision that ‘The Network Is The Computer’,” commented Everett Anstey, president, chairman and CEO of Sun Microsystems of Canada Inc.
Sun’s ServiceProvider.com initiative empowers service providers to deliver services quickly, profitably and reliably in the changing Net Economy. Having achieved Sun’s Elite status, InfoCast has demonstrated its commitment to providing exceptional performance and quality of service.