Solbright Announces $4 Million Strategic Investment Led by Atex Media Solutions
NEW YORK–(BUSINESS WIRE)–Feb. 17, 1999–Solbright, Inc., a leading developer of mission-critical software solutions which automate Internet marketing and advertising workflows for Internet publishers, agencies, and direct marketers, announces a strategic investment that will fuel new initiatives in product development and global sales distribution.
The $4 million investment round was led by Atex(R) Media Solutions, a leading provider of content and information management solutions for the print media industry. Solbright will use the investment to significantly expand operations and drive critical standards for buyers and sellers of Internet advertising and direct marketing. The investment will also fund staffing increases throughout the organization, especially in the key areas of marketing, customer support, and product development.
The recent explosion of Internet advertising and electronic commerce requires an automated infrastructure for advertising and direct marketing efforts to meet profitability targets. Planning, buying, selling, and managing advertising campaigns is increasingly and should be an unprofitable bottleneck for Internet marketers. As advertising and direct marketing volume grows, robust infrastructure will be essential to process the enormous volume of transactions that are currently administrated manually.
“Solbright is committed to developing world-class software solutions that automate work-flows for electronic commerce marketing and Internet advertising,” said Key Compton, Chief Executive Officer of Solbright. “With the new investments, Solbright will proceed to enable a new class of business infrastructure that will make Internet advertising and marketing initiatives truly profitable. As Internet advertising revenues grow, our solutions allow companies to automate their workflows and scale their advertising operations profitably.”
As partners, the two companies have agreed to leverage their combined experience in business planning, product management, system development, sales, marketing, customer support, and international distribution. Joint product development efforts being explored include integration of Solbright’s AdSuite with Atex Media Solutions’ industry-leading Enterprise advertising system, which manages all facets of ad sales, production and management for print media.
Solbright will also work closely with Atex Media Solutions to leverage their twenty-plus international offices and their global distribution network that includes more than 500 customers in the media industry. Solbright will supplement the Atex Media Solutions sales, training, and customer support teams with Internet related products, solutions, and reseller relationships.
In conjunction with the investment, Larry L. Mihalchik, the Chairman, President, and Chief Executive Officer of Atex Media Solutions, will join Solbright’s Board of Directors. Mihalchik brings over twenty-seven years of general and fiscal management, marketing, and operational experience to the Solbright Board.
“The combination of Solbright’s understanding of Internet marketing and advertising solutions combined with Atex Media Solutions’ experience supplying mission critical systems to publishers will build a powerful partnership,” said Mihalchik. “Our investment in Solbright demonstrates the Atex Media Solutions commitment to New Media as well as our focus on world-class enterprise systems for content and information management.”
Solbright, Inc. is a New York-based software development company providing mission-critical software solutions which automate Internet marketing and advertising workflows. Solbright products create value by dramatically reducing transaction costs associated with sales, placement, and revenue collection for Internet advertising and e-commerce. The Company’s highly configurable solutions significantly enhance customer service and accommodate various requirements in a wide range of business models and operating environments. Solbright’s unique products enable web-publishers, advertising agencies, and direct marketers to profitably scale Internet marketing and advertising initiatives. For further information regarding Solbright, Inc. and its full range of products and solutions, please visit http://www.solbright.com.
Atex Media Solutions is a leading worldwide supplier of content and information management solutions for the collection, processing, management, marketing and distribution of information by media companies — today, primarily newspapers — which help customers to leverage content, brand and market position to their greater advantage. Atex Media Solutions, with headquarters in Bedford, Massachusetts, USA, has 20 offices worldwide in the United States, the United Kingdom, Germany, the Netherlands, Denmark, Finland, Norway, Sweden, Australia, New Zealand, Singapore and Thailand. More than 500 newspapers in over 50 countries are operating Atex Media Solutions products, including over 200 recent client/server installations worldwide. Our products include the industry-leading Enterprise advertising system, which integrates all facets of advertising sales, production and management; ATEX(R) Classified Pagination; and DewarView and Prestige editorial systems. For further information regarding Atex Media Solutions and its full range of products and solutions for the publishing industry, visit http://www.atex.com.
SOLBRIGHT(R) is a registered trademark of Solbright, Inc. and ATEX(R) is a registered trademark of Atex Publishing Systems Corporation, a wholly owned subsidiary of Atex Media Solutions.
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