Boulder, Colorado (ots-PRNewswire) - PCCW Japan leads round as
Circadence builds momentum among investors to bring Conductor QoS(SM)
Adding another pedigreed name to an already impressive list of
blue-chip investors, Circadence Corporation, a leading provider of
enhanced Internet performance solutions, today announced it has
closed a $10 million equity investment from Pacific Century
CyberWorks Japan K. K. ('PCCW Japan' JASDAQ: 7954).
In exchange for equity investment, PCCW Japan will receive an
undisclosed number of shares of Series G preferred stock. The
investment, which was announced earlier in connection with PCCW
Japan's acquisition of Circadence's gaming unit, VR-1, was completed
today and makes PCCW Japan the lead investor in Circadence's Series G
round of financing.
Today's announced investment will help fuel the company's
commercial launch of its Conductor QoS, a service that is designed to
enhance web site performance, improve the predictability and
efficiency of Internet-based content transmission, and allow for
improved real-time customer interaction. Circadence intends to debut
its service to customers throughout North America this summer.
"Today's announcement is further validation of our e-business
strategy and it reinforces the value our technology has on a global
scale," said Michael J. Moniz, Circadence president and chief
executive officer. "We look forward to working with PCCW Japan as a
strategic investor and partner."
PCCW Japan president and chief executive officer Todd Bonner said,
"We are excited to have VR-1 join the PCCW Japan family. Their
Conductor Classic technology, which allows for massive multi-player
online entertainment technologies and content, will further our
position in this arena."
Conductor Classic shares core technology with Circadence's
Conductor QoS. PCCW Japan also is a long term strategic partner in
Circadence with its recently-announced acquisition of the company's
entertainment unit, VR-1, in exchange for a private placement of PCCW
Japan common stock valued at $38 million US (JPY 4.4 billion). Under
terms of that deal, PCCW Japan retains exclusive rights in the
entertainment market to VR-1's proprietary technology, known as
Conductor Classic 2.0(R), which enable thousands of gamers to
simultaneously play "massively multiplayer" interactive games over
Circadence's offering for e-business, Conductor QoS, deploys the
core premise of the Conductor technology it developed for online
With PCCW Japan's equity investment, Circadence has raised $102.5
million to-date. In September, Circadence announced it had secured
$51 million in equity from a number of high-tech leaders, including
Hewlett-Packard, Global Crossing and PSI Net. Also last fall,
Circadence secured $54 million in convertible debt facility from
The company previously announced two rounds of private placement
financing, including $25 million in Sept. 1999 and $13.6 million in
About Circadence Corp.
Circadence Corp., is a leading provider of enhanced Internet
performance solutions. Circadence's Conductor QoS provides
e-businesses with a service, which enhances web site performance,
improves the predictability and efficiency of Internet-based content
transmission, and allows for improved real-time customer interaction.
Circadence is headquartered in Boulder, Colorado. and has a
development facility in Toronto, Canada. For more information about
Circadence and Conductor QoS, please visit: www.circadence.com
About Pacific Century CyberWorks Japan Co., Ltd.
PCCW Japan K.K (JASDAQ: 7954) is focused on the development and
delivery of next generation games and targeted content across
multiple distribution platforms. The Company and the PCCW Group has
engaged in extensive alliances and made significant investments in
related companies including B-Factory, a leading i-Mode content
supplier and Tomen Mediacom, one of the largest independent cable MSO
operators in Japan. The Company also announced the acquisition of
VR-1 Entertainment division of US-based Circadence Corporation. VR-1
is one of the world's leading developers of online games.
On December 18, 2000, CS NOW, a subsidiary of PCCW Japan, was
awarded a CS110 digital broadcasting license by the Japanese Ministry
of Posts and Telecommunications, and on February 22, 2001.
PCCW Japan K.K is the new name for Jaleco Ltd. from November 1,
ots Original Text Service: Circadence Corp.
Editorial, Kurt Holzberlein, Director of Corporate Communications, of
Circadence Corporation, phone +1 303 413 8854,