12 Jun 2000
Simmons & Simmons advises Nokia Ventures on is investment in Categoric Software Corporation
Categoric Software Corporation, a leading supplier of e-business alerting infrastructure technology to wireless and wireline devices, has closed its third round of financing at US$13.8 million, led by Nokia Ventures. The co-investors were T-Venture and BancBoston Capital. Nokia Ventures was advised by Simmons & Simmons. Gilbert Segall and Young LLP provided US legal advice to Nokia Ventures and MJ Ventham & Co Ltd advised Nokia Ventures on the accounting aspects of the transaction.
Simmons & Simmons recently acted for Nokia Ventures in connection with its investment in 12snap, the world's first auction service via mobile phone. Other private equity deals in the communications sector which Simmons & Simmons has also recently advised on include acting for Splendour.com Limited (a company which will sell lingerie exclusively via the Internet) in connection with Marks & Spencer Ventures investment in the company; Geneva Technology Limited on its venture capital funding; and General Atlantic Partners, LLC on its investment in Entranet Limited.
Categoric Software is an international company founded in 1996 and has dual headquarters in Sterling, VA, USA and London UK with offices in the UK, USA and Germany. Categoric provides a personalised alert messaging platform that e-businesses need in order to deliver time-critical information to customers and an increasingly mobile workforce. As more and more data is generated in today's e-business environments, it is becoming vital that organisations are able to deliver personalised information to their customers, staff and partners in real-time, wherever they may be, enabling them to take immediate action. Categoric's technology achieves this by alerting people to critical information via SMS, WAP, pagers, e-mail and other industry standard channels. This 3rd round of financing forms a significant part of Categoric's strategy to deliver an extended technology platform for mobile e-business.
Nokia Ventures is a US$150 million venture capital fund and invests in early stage, high-growth companies in the areas of e-commerce, information technology and communications. Nokia Ventures recently expanded its operations to Europe by opening its European headquarters in London. Nokia Ventures is a key player in the rapidly evolving wireless market and seeks partnerships with leading-edge companies attaching high-growth market opportunities that will benefit from the combined resources, experience and contacts of the Nokia Ventures team and from the association of with a world-class brand.
The Simmons & Simmons team advising Nokia Ventures on the funding was led by partner Charles Fuller (Corporate Finance) and included Ed Harkins (Corporate Finance), Mark Robinson (Intellectual Property), Marc Doring (Intellectual Property), Julian Taylor (Employment) and Catherine Frampton (Employment).
Charles Fuller said:
"We were delighted to advise Nokia Ventures on this transaction. This deal underlines Nokia Ventures' commitment as a key player in the dynamic and fast evolving wireless market."
Notes for editors:
Simmons & Simmons is worldclass law firm with offices in London, Paris, Brussels, Düsseldorf, Lisbon, Milan, Rome, Madrid, Abu Dhabi, Hong Kong, Shanghai and New York with over 1,400 staff worldwide. For further information on Simmons & Simmons please visit our website at www.simmons-simmons.com.
2. The Corporate Department at Simmons & Simmons comprises over 220 legal staff (115 in London), including 47 partners (27 in London). It advises on the whole range of corporate finance activity, and mergers and acquisitions as well as other corporate law matters for listed and unlisted companies, in the United Kingdom and overseas.
3. Categoric has redefined the delivery of high value, time critical business information to standard wireless and wireline devices through a unique Enterprise Alert technology that works on top of all existing corporate systems, targeted at the extended supply chain inherent in all businesses. Categoric's e-business AlertsTM enable organisations to transform themselves into event-driven e-businesses with the delivery of "smart" interactive Alerts to the worlds growing wireless and wireline e-business population and opens up new communications channels between companies and their customers, staff and partners. Categoric delivers personalised, interactive Alerts to standard communications devices – including mobile – at any time and from any combination of data sources inside a firewall. Categoric's alliance partners deliver support by providing and building Wireless and Wireline Applications for specific vertical industries. For additional information about Categoric visit its Web site at www.categoric.com
4. Nokia Ventures is a US$150 million venture capital fund formed in 1998 to invest in early stage, high-growth companies in the areas of e-commerce, information technology and communications. Nokia Corporation has invested in the fund with the express intent to gain exposure to learning about new markets, business models and technologies beyond the scope of Nokia's current business unit strategies. For more information, please visit www.nokiaventures.com.