STOCKHOLM, Sweden, April 3, 2001 (PRIMEZONE) -- Appeal Virtual Machines AB (SSE:APP) has successfully completed a second round of financing. Atle Foeretagskapital AB and Infologix (BVI) Limited have invested SEK 22.5 million (US$ 2.3 million).
Appeal Virtual Machines the Swedish Software Company dedicated to developing and marketing better Virtual Machines for Java, has successfully closed its second round of financing. Infologix, the main investor in the first round, shares the issue of new stock with Atle Foeretagskapital. The financing will be used to ramp up sales of JRockit, a premium Virtual Machine for Java.
"JRockit is a very exciting product addressing well-known issues for applications written in the Java programming language. It is already in use in mission critical applications, resulting in dramatic reductions in the number of needed servers. The extra margin JRockit brings to Java projects makes this is a venture with a very interesting potential," said Hans Dirtoft, Chief Executive, Atle Foeretagskapital.
"Atle provides us with the financial muscles and industrial experience needed to commercialize version two of JRockit, a premium Virtual Machine for Java. Our compelling value proposition to deliver, "Java without bottlenecks," is well received by potential clients and partners, and we now have the resources to extend our sales and marketing in Europe and USA. Our prime focus is to recruit value adding partners in targeted geographies," said Joakim Dahlstedt, CEO Appeal Virtual Machines.
Atle Foeretagskapital AB is a venture capital company within the Atle group, the large Swedish private Equity Company. Atle Foeretagskapital, part of the group since 1998, was the first Swedish venture capital company and is active as such since its inception 27 years ago. Atle AB is listed on the OM Stockholm Exchange.
Infologix is a venture capital company under the Peder Sager Wallenberg Charitable Trust. Infologix invests in early stage ventures in the IT sector and currently holds a portfolio of investments in the US, Europe, Latin America, and Asia.
Appeal Virtual Machines is an Internet software company focused on simplifying the use of Java on corporate servers, whether on the Internet or in intranets. The first product was announced in April 2000.
JRockit is the world's most scalable Virtual Machine for Java. JRockit can handle more simultaneous users and at the same time do more meaningful work than any other JVM on a comparable computer. JRockit can be downloaded as a 90-day free, fully functional evaluation license, or can be purchased as a commercial license on www.jrockit.com. JRockit is designed for servers that run Java on Internet and inside companies. JRockit is now available in version 2.0 with world class scalability, dynamic optimization, selectable garbage collectors and enhanced I/O. Supported platforms are Windows 2000, Linux and Sun's Solaris.
Appeal Virtual Machines AB (AVM) is a Swedish software company dedicated to delivering Java without bottlenecks by developing and marketing better Virtual Machines for Java. The JRockit design is based on leading edge international research, and uses AVM's unique technologies, some covered by international patents. The company was founded in 1998 and has 20 employees. Please visit www.jrockit.com.