CALGARY, ALBERTA, CANADA - Technology Deployment International, Inc. (TDI), a leading provider of Internet-based e-business management software announced today that it has closed a US$25–million venture capital financing. The Westaim Corporation owns a 22 per cent equity stake in TDI.
“The rapid close of this financing is a strong endorsement of TDI’s mission to be the world leader in assisting companies to manage their entire businesses in real time on the Internet,” said Kevin Jenkins, President and Chief Executive Officer of Westaim. “With its new partners, TDI now has the strong foundation required to become the leading provider of managed e-business solutions on a global scale.”
The additional financing allows TDI to accelerate its business marketing and sales efforts to meet rapidly growing customer demand for its flagship product, E-Business Management System (EBMSTM). EBMSTM is a leading e-business software platform that allows new and existing businesses to quickly and cost-effectively enter the B2B and B2C marketplaces as well as manage internal business processes.
“The Internet is changing the way companies do business, requiring integrated interactions across a greatly extended enterprise. EBMS enables companies to streamline operations across this extended enterprise, while also providing a quick and cost-effective solution for companies wanting to enter B2B and B2C marketplaces,” said Dr. Ketabchi, TDI founder and CEO. “TDI’s successful $25-million round will support company growth to better manage the overwhelming demand for our product. As we recognized from the beginning that the Internet revolution is a global phenomenon, the funding will enable TDI to extend its global sales efforts.”
TDI has secured funding from strategic investors spanning the globe. These investors include venture capital firm Trans Cosmos USA, a subsidiary of Tokyo-based Trans Cosmos Inc.; D-Age, a venture fund in The Netherlands that assists U.S. companies in achieving success in Europe; Redwood Venture Partners, a strategically positioned venture capital firm in Silicon Valley; and H.I.G. Capital, a venture capital investment firm based in Miami. These investors will become key TDI partners in their geographic regions, building a strong foundation for the delivery of managed e-business solutions on a global scale while setting the stage for the creation of overseas divisions.
“When securing venture capital, TDI sought well-established firms in target geographic regions that would not only provide funding but would act as invaluable business resources around the world,” Ketabchi added. “Our strategic partnerships with Westaim, Trans Cosmos, D-Age, Redwood Venture Partners, and H.I.G. Capital position TDI to emerge as the leading global managed e-business solutions provider.”
“E-business isn’t only about buying and selling products over the Internet. Its most important benefit to businesses today is streamlining interactions and communications among partners, suppliers, employees, and customers,” said Shin Nagakura, Managing Director at Trans Cosmos USA. “TDI is hands down the leader in delivering online business process management across the extended enterprise and is already working with such leading customers as Fujitsu Limited and Alpha Systems,” continued Mr. Nagakura. “We are very excited about the potential EBMS has to transform business in Asia.”
“TDI’s e-business management platform ensures the highest levels of business performance by enabling companies to proactively address changing business conditions,” said Peter Vervest, Principle at D-Age. “These features will be extremely attractive to European companies wanting to leverage the Internet for additional cost savings and improvements in customer service. D-Age is pleased to play a leading role in TDI’s promising future as it makes inroads into Europe.”
“In today’s highly competitive marketplace, companies that recognize the business benefits the Internet offers can gain critical competitive advantages. TDI makes it a snap to leverage the Web to further streamline business processes, increasing productivity and lowering operational costs,” said Chris Vora, Managing Director at Redwood Venture Partners. “Any company that doesn’t embrace EBMS is going to be left behind. We look forward to being a part of this business revolution.”
“The real benefit of the Internet will be when businesses can run and manage their entire business in real time over the Web. TDI’s EBMS is the only product on the market that is making this a reality today,” said Tony Tamer, Managing Director at H.I.G. Capital. “We are extremely excited about the potential of TDI and EBMS to transform today’s business environment.”
About Trans Cosmos USA
Trans Cosmos USA Inc. is a strategic international investor and an active local business partner for U.S. Internet-based technology companies expanding into the Japanese marketplace. Trans Cosmos USA is the international partner-of-choice, offering capitalization of joint ventures, infrastructure development, strategic relationships, staffing and localization to companies in the American technology sector – effectively creating a pipeline of technological information to Japan. The Trans Cosmos USA portfolio, which focuses on companies specializing in new media, e-commerce, customer care, and marketing services, includes such marquee brand names as DoubleClick Inc., RealNetworks Inc., and NetRatings Inc. For more information, visit www.transcosmos.com.
About D-Age
D-Age is a specialized venture fund that aims at the critical foundations of the Internet world. The fund is active in companies operating within the technology/Internet corridors in the U.S. (Silicon Valley, Austin, and Atlanta) and in Europe (U.K, The Netherlands, and Germany). D-Age helps to provide a bridge for U.S. companies with proven business models to cross successfully to Europe. The fund has offices in Silicon Valley and The Netherlands and is supported by strong, private backers who guarantee the expansion of the fund. For more information, contact Tony Moroyan at (408) 774-5205
About Redwood Venture Partners
Redwood Venture Partners is a venture capital firm that focuses on seed and early-stage investments in high technology companies. Located in Los Altos, Calif., in the heart of the Silicon Valley, Redwood Venture is well positioned to leverage the region’s synergies. The firm actively seeks out worthy early-stage companies and helps them achieve market leadership. For more information, visit www.redwoodvp.com.
About H.I.G. Capital
H.I.G. Capital is a private equity and venture capital investment firm with more than $750 million of equity capital under management. Since its founding in 1993, H.I.G. has been an active investor in management-led buyouts and recapitalizations as well as venture capital technology investments. H.I.G. currently has investments in more than 45 companies with combined revenues in excess of $3 billion. The firm’s investor base includes Goldman Sachs, Massachusetts Institute of Technology, Yale University, Donaldson, Lufkin and Jenrette (DLJ), Deutsche Bank Alex Brown, Wilshire Associates, First Union Corporation, PNC Bank, and Teachers Insurance and Annuity Association (TIAA). For more information, visit www.higcapital.com.
About TDI
Technology Deployment International Inc. (TDI) provides revolutionary e-business solutions that allow customers to develop and then manage business processes through the Internet across extended enterprises, streamlining interactions with customers, partners, suppliers, and employees. TDI’s flagship product, the E-Business Management SystemTM (EBMSTM), is a leading e-business software platform that lets companies quickly map internal and external business processes and bring them to the Internet, offering extensive cost reductions and productivity gains. EBMS also includes sophisticated management tools that let managers monitor operations proactively, responding to changing business conditions on the fly by quickly modifying automated processes. TDI supplies software and services to leading technology companies, including Cisco Systems, Computer Associates, Fujitsu, Hewlett-Packard, Philips, and Qualcomm. The privately held company is headquartered in Santa Clara, Calif. For more information, visit http://www.tdiinc.com or call 1-888-544-5511.
About The Westaim Corporation
The Westaim Corporation is a technology incubator that launches exceptional technologies into the marketplace. Its technology investments include Westaim Biomedical Corp., which has developed an infection control technology for use in the treatment of wounds, iFire Technology Inc., which has developed a revolutionary low-cost flat panel display, and Technology Deployment International, Inc., a leader in e-business management software. Westaim's common shares are listed on Nasdaq under the symbol WEDX and on The Toronto Stock Exchange under the trading symbol WED.
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For more information contact:
Tony Johnston, Senior Vice President, Corporate Affairs
The Westaim Corporation
(403) 234-3103
info@westaim.com
www.westaim.com
Don Nanneman
TDI
(408) 330-3496
nanneman@tdiinc.com
This news release may contain forward-looking statements. These statements are based on current expectations that are subject to risks and uncertainties, and the Company can give no assurance that these expectations are correct. Various factors could cause actual results to differ materially from those projected in such statements, including financial considerations and those predicting the timing and market acceptance of future products. The Company disclaims any intention or obligations to revise forward-looking statements whether as a result of new information, future developments or otherwise. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement.
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