November Business Bits

Published November 20, 2001 Volume 9, Number 11

  • Xign Corporation has closed $20 million in Series B funding. Leading this second round of funding was Financial Technology Ventures (FTVentures), which manages more than $600 million for some of the largest financial institutions in the world. The Xign Payment Services Network allows companies to reduce costs associated with the more than 40 billion annual business transactions in the U.S. that are settled via manual processes associated with paper invoices and paper checks. Xign solutions offer the potential to reduce these costs by 50 percent and free up billions of dollars in excess working capital.
  • Individual Software has introduced Professor Teaches Windows XP and Professor Teaches Windows XP Plus, two CD-ROM tutorial packages that offer a way to learn Microsoft Windows XP for users at all levels. The new products offer multimedia training for Windows XP Home Edition, Windows XP Professional, and Internet Explorer 6.
  • AdventNet has established new offices in France and the United Kingdom to serve its increasing European customer base, which includes customers such as Alcatel, Ericsson, Marconi, Nokia, and Siemens. The European market has shown growing acceptance of AdventNet products because of their superior technology, feature rich functionalities, and excellent pre- and post sales support. The company provides massively scalable, open, carrier-grade management solutions for networking/telecom equipment vendors and service providers.
  • SonicWALL Inc., an Internet security provider, paid $12.5 million in cash to buy Fremont-based RedCreek Communications Inc, a privately-help provider of Internet access. The acquisition is expected to provide the company with "technologies, products and skills that can strengthen our position in the enterprise market," according to Cosmo Santullo, president and CEO. SonicWALL's security solutions, which include content filling and anti-virus technologies, are geared toward e-commerce, small and medium-sized businesses, education and government markets.
  • Nearly $40,000 was raised at this year's Pleasanton Partnerships in Education (PPIE) Foundation CEO Dinner, held on November 2 at the Shrine Event Center in Livermore. Steve Klei, chief financial officer of ProBusiness, won the "Most Appreciated CEO" title, as he received $10,000 in tips from his guests. Other Hacienda executives who participated were Murray Dennis of Visioneer and Rita Steel of Robert Half International.

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