OmniCluster Technologies Acquires IBM Technology; Prepares to Speed Network Infrastructure Solutions to Market

Business Wire, Nov 6, 2000

Business Editors/Technology Writers

BOCA RATON, Fla.--(BUSINESS WIRE)--Nov. 6, 2000

OmniCluster Technologies, Inc. today announced it has acquired an IBM-developed network technology that will significantly cut the cost and complexity of installing, expanding and maintaining PC networks and clustered server environments.

Under the agreement, OmniCluster Technologies has secured IBM's source code, designs and patent rights for the technology that is intended to contribute to a new generation of client and server network applications. IBM is a minority equity holder in the company and is supplying custom ASIC chips to the company.

"This new technology tackles tough networking challenges that face today's fast-growing businesses," said Christopher Fleck, CEO of OmniCluster Technologies. "This unique technology creates a network infrastructure that will enable breakthrough customer applications."

The company is finalizing the development and commercialization of the hardware and software technology, which has opportunity in numerous client and server network applications.

Global growth estimates for the network infrastructure market are impressive. The thin server market, a focus of industry attention, is projected to reach $16 billion in 2002, according to Dataquest.

To fund the technology's development, OmniCluster Technologies has obtained a $6 million venture capital commitment from a group led by HIG Capital of Miami and including Crossbow Ventures of West Palm Beach.

"Our commitment reflects the strong emerging market opportunities for OmniCluster's technology, and our confidence in the team," said Brian Schwartz, managing director of HIG Capital of Miami.

In addition, OmniCluster has aligned with Cenetec, the technology accelerator company. Led by accomplished Internet entrepreneurs, Cenetec infuses Internet startups and fast growing companies with the strategic guidance, technology "braintrust", facilities, business resources and capital access to rapidly accelerate high growth potential products and services to market.

OmniCluster Technologies is headquartered at 4950 Blue Lake Drive, Suite 904, Boca Raton, Florida 33431, 561 981-0260. The location is the site of the former IBM complex that was the birthplace of the IBM PC. Further information is available at www.omnicluster.com.