BOZEMAN, Mont.– RightNow Technologies Inc., a developer of Internet customer care systems, announced that Greylock and Summit Partners participated in RightNow Technologies’ $16.2 million first round of venture funding. Greylock acted as the lead investor. Greylock’s general partner, Roger Evans, joined the RightNow Technologies board of directors. RightNow Technologies automates customer service and technical support operations for Internet-connected organizations.
San Francisco — Cogit.com, a provider of real-time, relevant eMarketing services bringing together offline consumer data and analytics with online interests and behavior, closed its fourth round of venture financing amounting to $14,150,000. The funding is being led by New Enterprise Associates, with continued participation by Institutional Venture Partners, Crosslink Capital and Wilson, Sonsini Goodrich & Rosati. In addition, Cogit.com has added new investors in this round, including Dain Rauscher Wessels; Dresdner Kleinwort Benson; C.E. Unterberg, Towbin; Lighthouse Capital Partners; Mindful Partners; and Springcreek Partners.
COLORADO SPRINGS, Colo. AdminiQuest, a Web-enabled full-service outsourcing solutions partner to the insurance industry, closed a $4 million follow-on round of financing, led by GE Financial Assurance. Prior investors Sequel Venture Partners Inc., US Bancorp Piper Jaffray, The Hillman Companies, Greystone Venture Partners and Century Capital Management all participated in the round. GEFA’s interest in AdminiQuest is non-controlling, and its investment entitles GEFA to one seat on AdminiQuest’s board of directors.
CMGI to Acquire ADTECH
ANDOVER, Mass. and FRANKFURT, Germany– CMGI Inc. (Nasdaq:
CMGI), a large and diverse network of Internet companies, entered into a binding letter of agreement to acquire an 80+% interest in ADTECH Advertising Service Providing GmbH, a European provider of third-party, independent ad serving and campaign management solutions to both online advertisers and Web publishers. Financial terms were not disclosed. It is intended that after closing, CMGI will contribute its investment in ADTECH to AdForce Inc. (Nasdaq: ADFC). ADTECH will be integrated to lead European operations for AdForce following AdForce shareholder approval and closing of the AdForce / CMGI merger announced on Sept. 20, 1999.
http://www.cmgi.com
http://www.ADTECH.de
Nx Networks Acquires AetherWorks
HERNDON, Va., and WESTBORO, Mass. — Nx Networks (Nasdaq:
NTRX), a leader in voice over internet protocol and virtual private networking, acquired AetherWorks Corp., a privately held provider of innovative voice and data, carrier class convergence solutions, including soft switch technology, for the telecommunications industry. Terms were not disclosed. AetherWorks founder, current president and CEO, Jonathan A. Sachs, will join the Nx senior management team as senior vice president of engineering.
http://www.nxnetworks.com
Talk City Acquires Online Market Research Firm
CAMPBELL, Calif.– Talk City Inc. (Nasdaq:
TCTY) announced the acquisition of Research Connections Inc., a provider of online market research. RCI’s advanced proprietary technology will combine with Talk City’s full set of interactive community services to create a source of primary market research and analysis of the Internet’s growing population. Talk City’s Research Connections division will be directed by Amy J. Yoffie, RCI’s founder and CEO.
http://www.talkcity.com
http://www.researchconnections.com
RMI.NET Acquires Web Hosting and Dedicated Access Provider
DENVER — RMI.NET Inc. (Nasdaq:
RMII), a national e-business solutions company, acquired the assets of ServerCom Inc., a privately held, web hosting and dedicated access service
provider for business customers based in Bloomington/Normal, Ill. The purchase price was approximately $300,000. RMI.NET will relocate its Great Lakes division operations to ServerCom’s web hosting and carrier-class data center.
http://www.rmi.net
Xetal Acquires Sick-bay.com
MELVILLE, N.Y. — Xetal Inc. (OTCBB:
XETX), acquired all of the shares of Sick-bay.com Inc., a private Internet health portal. Sickbay.com offers its visitors an array of health-related products and services. The acquisition was effectuated by a stock-swap of more than 80% of the outstanding shares of Xetal Inc. common stock for all of the issued stock of Sick-bay.com Inc. Sick-bay.com management will assume management of Xetal.
http://www.sick-bay.com
The Internet Advisory Corp. Acquires Sunrise Web Development
FORT LAUDERDALE, Fla. — The Internet Advisory Corp. (OTCBB:
PUNK) (Frankfurt Symbol: IAS) acquired Sunrise Web Development Inc. for stock. Sunrise Web Development owns an interactive Internet website and Internet browser. The company says it will generate revenues such as online service revenues from subscribers, advertising revenues, E-commerce and transaction fees associated with electronic commerce.
http://www.thepunk.com
Advantage Learning Systems Acquires Web-based Software Developer
WISCONSIN RAPIDS, Wis. — Advantage Learning Systems Inc. (Nasdaq:
ALSI), a provider of learning information systems to the K-12 school market, acquired computerActive Inc., an Ottawa, Canada-based software development firm specializing in Web-based applications. The acquisition is expected to accelerate the company’s introduction of Web versions of its school software products as well as providing new product opportunities. Transaction terms were not disclosed.
http://www.advlearn.com
Lycos Takes 14 Percent Stake in iCOMS
NASHUA, N.H. & WALTHAM, Mass — Internet Commerce Services Corp., a commerce applications services provider and Lycos Inc. (NASDAQ:
LCOS) entered into a long-term strategic relationship in which Lycos acquired an approximately 14 percent minority stake in iCOMS. iCOMS plans to use the Lycos investment to fund general operations, expand its infrastructure and pursue potential acquisitions. As part of the relationship between Lycos and iCOMS, merchants who use iCOMS services will have access to Lycos visitors when they register as LYCOShop merchants.
http://www.lycos.com
http://www.icoms.com
Who’s Who & Where
Embion Appoints Bill Elliott as CEO
MINNEAPOLIS — Embion Inc., a business-to-business medical e-commerce and information company, appointed Bill Elliott as chairman of the board and CEO. Elliott was most recently president of Bergen Brunswig Medical Corp. and president of intePlex, both wholly owned subsidiaries of Bergen Brunswig with annual sales of $20 billion. Acacia Venture Partners along with U.S. Bancorp Piper Jaffray Ventures recently invested $10 million in Embion.
http://www.embion.com
NetGift Registry Names Fadel as New CEO
DURHAM, N.C.– NetGift Registry, an online gift registry service provider, named Ed Fadel the new chief executive officer of the company. After first creating and coming up with the idea for the company in 1998 and acting as its first chairman, Fadel returns to lead NetGift. In 1998, Fadel founded Fusion Ventures, a seed-stage venture capital fund and full services venture incubator. Fusion Ventures provided seed money to NetGift.
http://www.netgiftinc.com
Respond.com Appoints Dana C. Stalder as CFO
Redwood City, Calif. Respond.com, an online shopping service that connects buyers and sellers, appointed Dana C. Stalder as chief financial officer. Stalder was previously the vice president of finance and operations at Netscape Communications . Respond.com is funded by The Barksdale Group, Benchmark Capital and Hummer Winblad Venture Partners.
http://www.respond.com
Camdens Names Antonio A. Yenidjeian as Chief Technology Officer
NEW YORK — Camdens, an e-commerce services company focused on the corporate and executive gift market, announced that Antonio Yenidjeian has joined the company in the newly created role of vice president and chief technology officer. Yenidjeian joins Camdens from Doubleday Direct, where he held the position of CIO for the publishing arm of the global multi-media corporation Bertelsmann AG. Investment in Camdens is led by Europ@web and ARCH Venture Partners.
http://www.camdens.com
Stephen Klein Joins On2.com Board of Directors
NEW YORK — On2.com Inc. (Amex:
ONT), a provider of broadband content delivery over the Internet, announced the addition of Stephen D. Klein to the company’s board of directors. Klein’s career in interactive media and strategic branding and communications includes executive positions at
Grey Advertising and Scali McCabe Sloves (now Lowe & Partners) in New York. He is a founding partner and serves as a managing director of Dawntreader LP; a venture capital fund dedicated to early-stage Internet companies.
http://www.on2.com
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