BASIS TECHNOLOGY SECURES $7.5 MILLION IN FINANCING FROM KYOCERA GOLDMAN SACHS VENTURE CAPITAL
— New Investment Fuels Growth of Software Globalization Leader —
Cambridge, MA, May 10, 2001—Basis Technology (www.basistech.com), the leading provider of software globalization solutions, today announced a $7.5 million equity investment from Kyocera Goldman Sachs Venture Capital, a joint venture between Kyocera Corporation (NYSE: KYO) and Goldman Sachs Group, Inc. (NYSE: GS). The funding will enable Basis Technology to expand global sales and marketing efforts and develop new products.
“With this investment, Basis Technology gains both financial resources and a powerful partner,” said Carl Hoffman, president and CEO of Basis Technology. “We are proud to have our success and future potential recognized through an investment from such top-tier firms as Kyocera and Goldman Sachs.”
Kyocera Goldman Sachs Venture Capital combines the global resources and investment experience of Goldman Sachs with the technology leadership of Kyocera. This complementary team invests in businesses where the creative application of its capital and the combined expertise of its partners help entrepreneurs build successful technology companies.
“Increasingly, Goldman Sachs client and portfolio companies are looking to international markets for substantial new revenue growth,” said Robert V. Delaney, Jr., Chairman & CEO of Kyocera Goldman Sachs Venture Capital and Managing Director of Goldman Sachs. “Basis Technology breaks down barriers to globalization with best-of-breed products and services.” Delaney concluded, “This investment complements both companies' missions to build the most successful organizations on a global scale.”
The market for internationalization solutions is gaining importance and visibility, according to Christopher Hoffman, director of the eGlobalization and Localization Services Group at IDC. “As enterprises pursue global revenues it is vital that their IT products and related infrastructure accommodate the demands of multiple languages, regions, and cultures. This investment by Kyocera Goldman Sachs Venture Capital is a validation of the market for internationalization solutions, and of Basis Technology’s ability to capitalize on this dynamic opportunity.”
A reception will be held tonight at Basis Technology’s headquarters to publicly announce the investment. In addition to Basis Technology executives, D. Steven Lin, Vice President, Principal Investment Area, Goldman Sachs; Rick Dalzell, Chief Information Officer, Amazon.com; Eric Gerritsen, Vice President International Business Development, Terra Lycos; and Elizabeth Ames, Director of Economic Development for the Commonwealth of Massachusetts will provide congratulatory remarks to Basis Technology employees and invited guests.
“Six months ago, we took the most customer-friendly e-commerce platform there is—Amazon.com and localized it for customers in Japan at www.amazon.co.jp,” said Rick Dalzell, Amazon.com Vice president and Chief Information Officer. “Every day, Basis Technology’s products and services help to make our customers happy we know, because our growth rate in Japan is, in a word, stunning.”
About Basis Technology
Basis Technology (www.basistech.com) provides software solutions for extracting meaningful intelligence from multilingual text. The company’s Rosette® Platform is a suite of high-performance, highly reliable, interoperable software components designed for applications that analyze and process all the world’s languages.
Top-tier software vendors, content providers, multinational enterprises, and government agencies rely on Basis Technology’s solutions for Unicode compliance, language identification, multilingual search, normalization, transliteration, and entity extraction. Clients include America Online, Convera, Endeca, Google, Hewlett-Packard, InQuira, Inktomi, L.L Bean, Northrop Grumman, PeopleSoft, Siebel Systems, Verity and Yahoo!.
Company headquarters are located in Cambridge, Massachusetts, with branch offices in San Francisco, California; Herndon, Virginia; and Tokyo, Japan. For more information, visit www.basistech.com or call 800-697-2062.