Syntra Secures $50 Million from Softbank, Inktomi

E-commerce services provider Syntra closed on $50 million in financing
with investments from Softbank Capital Partners and Inktomi Corp.


Meritech Capital Partners, a later stage investing affiliate of Oak
Investment Partners, Syntra’s largest shareholder, also participated.


“The exponential growth of global e-commerce hinges on breakthrough
technologies like those provided by Syntra. We look forward to working with
Syntra to roll out these solutions globally; we have an extensive network of
companies ready to benefit from the company’s services for global commerce,”
said Masayoshi Son, president and chief executive officer of Softbank Corp.


Syntra will become a part of the Softbank investment family, which includes
Yahoo!, FastParts, Verisign and Electron Economy.


The company delivers a turnkey solution to power a wide range of B2B
exchanges, enterprises and portals and recently added 20 new customers
including DHL Worldwide Express, Fingerhut and Commerx, the developer of
PlasticsNet.com. Syntra also recently acquired ISM, a Europe-based commerce
management company, which expanded its international presence.


“This funding will accelerate the rapid proliferation of Syntra’s ASP
services worldwide through new partners and expanded distribution channels,”
said Richard Giordanella, chairman and chief executive officer at Syntra.

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