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River
Logic™ Receives Strategic Funding to Accelerate Business Plan and
Enhance Technology Beverly, MA—(BUSINESS WIRE)— April 9, 2001 River Logic, a leading provider of decision-support
technology, today announced it has received an investment from the IntelÒ
64 Fund. Financial details were not disclosed. The Intel 64 Fund
investment was made in support of River Logic's commitment to port and
tune its Enterprise OptimizerÔ
software application to Intel’s IA-64 platform, beginning with the
Itanium™ processor. "We are pleased to receive this investment from the
Intel 64 Fund to advance our presence in the decision-support technology
sector," said Doug Presley, River Logic’s President and Chief
Operating Officer; "The investment capital will be used to
accelerate our sales effort into select vertical markets, to expand our
branding and marketing programs, and to continue product enhancements. Other investors contributing in this round of funding include
Cardinal Investment, Inc., CT Holdings (NASDAQ:CITN),
eMed Ventures, and Mercury Ventures. About
River Logic River Logic develops decision-support applications for
industry. Using COR TechnologyÔ,
a rapid-application development system, developers at River Logic create
applications that enable industry professionals to model complex
enterprises and explore financial relationships on a desktop computer or
laptop. Embedded analytics allow end-users to understand the financial
implications of critical business decisions easily by manipulating
graphical icons that model their enterprise. Headquartered in Beverly, Massachusetts, with offices in
Atlanta, Austin, Dallas, and Portland, River Logic is a privately held
corporation receiving venture capital support from Cardinal Investment,
Inc., CT Holdings (NASDAQ:CITN), EBSCO CASIAS, eMed Ventures, the Intel 64
Fund, and Mercury Ventures. The company's solution incorporates several
patented technologies and leverages research originally conducted at
University of Massachusetts and the Russian Academy of Sciences. To learn more about River Logic, visit www.riverlogic.com
or call David Parnell, senior vice president, at (512) 479-6918. About the Intel 64 Fund The Intel 64 Fund is a quarter billion
dollar equity fund that invests in emerging technologies for
next-generation servers and workstations utilizing Intel's IA-64
architecture. The Fund is
coordinated by Intel with Compaq, Dell, HP, Intel, NEC, and SGI as
co-investors. The Fund's
other investors, managed by Morgan Stanley Dean Witter, include Bank of
America, The Boeing Company, Circuit City, Enron, Ford Motor Company,
General Electric, McKessonHBOC, Morgan Stanley Dean Witter, Reuters, Sabre,
SmithKline Beecham, Sumitomo Corp., SunAmerica and Telmex.
Additional information about the Intel 64 Fund is available at http://developer.intel.com/design/ia-64/fund/index.htm. To learn more about the Intel 64 Fund, visit www.intel.com/capital/. |
