FOSTER CITY, Calif., Nov. 11, 2002 -- Building
on its leadership position and ongoing momentum in the instant
messaging (IM) marketplace, FaceTime Communications, the premier
provider of network-independent, enterprise solutions for the
management and control of IM, today announced a late-stage, growth
capital investment from new lead investor BA Venture Partners and
existing FaceTime investors Sutter Hill Ventures and TH Lee Putnam
Ventures. BA Venture Partners' sole limited partner is Bank of
America, one of FaceTime's largest customers and a world-leading
financial services company. By making this strategic commitment to
FaceTime, BA Venture Partners further demonstrates the confidence
major corporations have in the growth of the instant messaging
market and FaceTime's continued leadership in delivering
business-critical solutions on a global scale. The terms of the
capital were not disclosed, however, the investment was based upon
a significantly increased valuation for the Company. FaceTime
Communications provides customers such as Bank of America and over
100 enterprises with best-of-breed, comprehensive IM server
solutions that integrate business-critical workflow applications
into the world's leading IM networks. The Company is the only
vendor of its kind with strategic, authorized alliances with all of
the industry-leading network and technology providers such as AOL,
Microsoft, IBM Lotus, Reuters and Yahoo!. Last week, America
Online, Inc. announced that it selected FaceTime to provide its
award-winning IM Director development platform as embedded
technology for the new AOL(R) Instant Messenger(TM) (AIM)
Enterprise Gateway solution. The Company will leverage its momentum
and utilize this investment to accelerate its expansion of
international and partner channels as well as to further develop
its market-leading IM infrastructure and business applications.
"The proliferation of instant messaging in business today, with an
annual growth rate of 200%, represents a significant market
opportunity," said Sharon Wienbar, Director, BA Venture Partners.
"This market shift has created a widespread need for enterprises
such as Bank of America to leverage products and services that
manage and control business-critical communications while enabling
users to harness the power and competitive advantages of IM. With
more than 100 major enterprise customers, strategic partnerships
with the world's leading IM network providers, and
network-independent technology, we believe FaceTime is the clear
leader in this space." "Our tremendous customer growth and
increasing revenues have made FaceTime stand out as an attractive
opportunity for investors," said Glen Vondrick, President and CEO
FaceTime Communications. "During the past 15 months, despite market
conditions, FaceTime has achieved record revenues with major
customer wins and executed on key partnership agreements. By
achieving these goals, FaceTime now has over 100 enterprise
customers in production with our products. The results of our solid
execution have garnered numerous competitive investment bids and an
over-subscribed, late-stage, growth capital round with a company
valuation that is multiples higher than our previous round. We
chose to partner with BA Venture Partners as FaceTime is close to
profitability and is poised to help accelerate our growth plans for
expansion. We look forward to continuing to set the standard for IM
and enabling customers to leverage the power of instant messaging
in business." In addition to its investment, BA Venture Partners
Director Sharon Wienbar has been appointed to FaceTime's Board of
Directors. Ms. Wienbar joins existing Board members: Tench Coxe,
Managing Director of Sutter Hill Ventures; Jim Brown, Managing
Director of TH Lee Putnam Ventures; and FaceTime CEO Glen
Vondrick.
About Actiance, Inc. (Formerly FaceTime Communications, Inc.)
FaceTime Communications became Actiance, Inc on January 11, 2011 following an agreement to
transfer the FaceTime trademark to Apple.
FaceTime Communications enables the safe and productive use of Unified Communications and Web 2.0,
including instant messaging, blogs and social networking. Ranked number one by IDC for five consecutive
years, FaceTime's award-winning solutions are used by more than 1,500 customers for the security,
management and compliance of real-time communications. FaceTime supports or has strategic partnerships
with all leading IM, unified communications providers and social networks including AOL, Google, Yahoo!,
Skype, Microsoft, IBM, Cisco, Facebook, LinkedIn and Twitter.
FaceTime is headquartered in Belmont, California. For more information visit
http://www.facetime.com or call 888-349-3223.
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