Tuesday September 26, 9:42 am Eastern Time

Press Release

NY VC Funds ActiveState: International Angels Invest in Software Development Company

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 26, 2000-- ActiveState, a leading provider of Internet programming software and services, announced the closure of its latest round of financing, which included lead funding by NY venture capital firm Opticality Ventures, which specializes in backing open source firms.

ActiveState also received strategic investments from ActiveState Board Member and Red Hat CTO Michael Tiemann; Nick Bedford, Head of German Equity Sales for the investment banking firm, Warburg, Dillon & Reid AG; and renowned members of Vancouver's high tech community.

``We're delighted to have such a depth of international and local backing and for the confidence our investors have shown in us by reinvesting,'' said Dick Hardt, Founder & CEO, ActiveState. ``Opticality is an ideal partner for ActiveState, they understand the open source opportunity. As of course does Michael Tiemann, whose extensive experience with Cygnus and Red Hat is a great resource.''

``ActiveState sets the standard for delivering high quality tools to the Perl and Python communities. Their dedication to hiring top notch developers ensures their success,'' said Hadar Pedhazur, Founder & Principal, Opticality Ventures. ``I'm pleased to be associated with a company that understands its mission and produces world-class products.''

``ActiveState's expertise and relationships with both the open source and business communities sets them apart from other programming software companies,'' said Michael Tiemann, CTO, Red Hat. ``The Company is well positioned to capitalize on the pent-up demand for software and services that enables programmer productivity and skills.''

ActiveState completed an earlier Angel investment last winter. Proceeds and expertise from the current round of financing will be used to pursue strategic near term objectives, including the expansion of ActiveState's management team, opening of a Seattle office, and increased marketing and sales efforts.

About ActiveState:

ActiveState is at the forefront of open source infrastructure software, providing Internet programming products and services for all popular operating systems including Linux, Solaris, and Windows. ActiveState's key technology platforms are Perl, the Internet's most popular programming language and Python, a user-friendly scripting language. ActiveState solutions provide enterprise-wide deployment of Perl and Python, improved programmer productivity, and seamless integration with other technologies. ActiveState believes in the evolution of core Perl and Python technologies and is committed to broadening the appeal of Perl and Python by making available easy to install packages for popular operating systems. For more information visit www.ActiveState.com.

  • (c) ActiveState Tool Corp 2000.

    ActiveState is a trademark of ActiveState Tool Corp. All other company names herein may be trademarks of their respective owners.


    Contact:
         ActiveState
         Lori Pike, 604/484-6417
         LoriP@ActiveState.com