ClearCube Technology Secures Series C Funding and a Strategic Alliance

SAIC and ClearCube Technology to Team on Deployment

of Enterprise Desktop Management Solutions



Apr 02, 2001, 01:00 ET from ClearCube Technology, Inc.

    AUSTIN, Texas, April 2 /PRNewswire/ -- ClearCube Technology, Inc., the
 evolution of the managed desktop, today announced the close of $20 million in
 series C funding.  New investors in this third round of funding include TVM
 (Techno Venture Management), who also led the round, as well as SAIC Venture
 Capital Corporation, the venture investment arm of SAIC (Science Applications
 International Corporation), which has become a new strategic teammate.
 Returning investors included Austin Ventures, Sternhill Partners and Acer.
 These funds will be used to expand product development, increase sales and
 marketing efforts, and for general business purposes.
     As part of the terms of the new alliance SAIC will act as the lead
 integrator for ClearCube's C3 architecture.  SAIC is one of the world's
 leading providers of IT outsourcing and integration services.  SAIC experts
 help enterprises worldwide meet their network, infrastructure, call center and
 desktop management needs by offering a better way to manage these assets
 through the application of SAIC's integrated services management processes.
     "ClearCube's innovative solution marks a change in the current PC
 environment," said Bob Lamkin, Venture Partner with TVM.  "Our fund focuses on
 IT & communications, ClearCube Technology's C3 architecture is a strong fit in
 our investment strategies."
     "With the close of our series C funding we are pleased to add our new
 investors TVM and SAIC-VCC, as well as the addition of the new alliance," said
 Mike Frost, president and CEO of ClearCube Technology.  "The current market is
 ready for a change in the managed desktop market.  With the support from our
 investors, ClearCube is poised to continue to define and lead the managed
 desktop market as well as provide innovative solutions that will radically
 change the management and service of networked environments."
     "As a leader in integration and outsourced support for enterprise
 deployment, SAIC plans to use ClearCube's architecture to provide increased
 levels of service to our customers," said Kevin Werner, president of SAIC
 Venture Capital Corporation.
     "We initially invested in ClearCube Technology because we believed their
 architecture and patent strategy would drive the evolution of the managed
 desktop," said Ed Olkkola, General Partner at Austin Ventures.  "Since our
 initial investment, the customer and press responses have warranted our
 initial beliefs and with our new investment we feel secure that ClearCube has
 both the management team and the roadmap to be a force in the developing
 managed solution arena."
 
     ClearCube Technology offers businesses a managed desktop architecture that
 resolves problems that currently abound in traditional managed PC environment.
 The patented C3 architecture gives customers the power of Intel-based PC
 performance in a secure, centralized, rack-mounted environment that users
 access from their desktop up to 200 meters away.  The unique distance
 technology provides improvements in manageability and security as well as
 increases reliability, performance and office space savings.
 
     About TVM
     TVM Techno Venture Management is a German-U.S. venture capital company.
 They create transnational businesses that enjoy access to science, management
 talent and capital on both sides of the Atlantic.  Their investments focus on
 two industries:  Information & Communication Technology (ICT) and Life Science
 (LS).  More information about the TVM can be found on the Internet at
 www.tvmvc.com .
 
     About SAIC VCC
     The SAIC Venture Capital Corporation (SAIC VCC) was founded in 2000 by
 Science Applications International Corporation (SAIC) to make equity
 investments in early-stage, high-potential companies to promote leading-edge
 technologies and develop key strategic relationships in the areas of
 telecommunications, information technology, the Internet and electronic
 commerce.  SAIC is the nation's largest employee-owned research and
 engineering company, providing information technology, systems integration and
 eBusiness products and services to commercial and government customers.  More
 information about the SAIC VCC can be found on the Internet at
 www.saic-vcc.com .
 
     About SAIC
     SAIC is the nation's largest employee-owned research and engineering
 company, providing information technology, systems integration and eBusiness
 products and services to commercial and government customers.  SAIC engineers
 and scientists work to solve complex technical problems in telecommunications,
 national security, health care, transportation, energy, the environment and
 financial services.  With annual revenues exceeding $5.5 billion, SAIC and its
 subsidiaries, including Telcordia Technologies, have more than
 41,000 employees at offices in more than 150 cities worldwide.  More
 information about SAIC can be found on the Internet at www.saic.com .
 
     About Austin Ventures
     Since 1979, Austin Ventures has grown to be the largest venture capital
 firm in the Southwest.  With more than $1.6 billion of capital under
 management, Austin Ventures is one of the largest venture capital firms in the
 United States.  Austin Ventures' investments include such companies as Tivoli,
 Vignette, Metasolv, Crossroads and Silicon Labs.
 
     About Sternhill Partners
     Headquartered in Houston, Texas, Sternhill Partners provides venture
 capital funding to technology start-ups in Texas, the Southwest and the West
 Coast.  The Sternhill team leverages its experience in product development,
 strategy, marketing, sales and finance with industry leaders like Compaq
 Computer Corporation, Motorola, McKinsey and PricewaterhouseCoopers to provide
 insightful business analysis to its portfolio companies.  With more than
 $100 million under management, Sternhill provides top-notch entrepreneurs a
 venture partner that offers knowledge, experience, contacts and capital to
 develop a successful business in today's technology marketplace.  For
 additional information about Sternhill Partners, visit
 http://www.sternhillpartners.com/
 
     About ClearCube Technology
     ClearCube was founded as a research and development company with the goal
 of developing cost-effective methods to transmit data faster and farther over
 existing copper wire.  ClearCube has become an industry leader in the
 transmission of data over long cable used in the managed PC environment.
 ClearCube's patented wire transmission technology reduces downtime, enhances
 security, saves space, and lowers maintenance costs.  For more information,
 visit www.clearcube.com .
 
 

SOURCE ClearCube Technology, Inc.
    AUSTIN, Texas, April 2 /PRNewswire/ -- ClearCube Technology, Inc., the
 evolution of the managed desktop, today announced the close of $20 million in
 series C funding.  New investors in this third round of funding include TVM
 (Techno Venture Management), who also led the round, as well as SAIC Venture
 Capital Corporation, the venture investment arm of SAIC (Science Applications
 International Corporation), which has become a new strategic teammate.
 Returning investors included Austin Ventures, Sternhill Partners and Acer.
 These funds will be used to expand product development, increase sales and
 marketing efforts, and for general business purposes.
     As part of the terms of the new alliance SAIC will act as the lead
 integrator for ClearCube's C3 architecture.  SAIC is one of the world's
 leading providers of IT outsourcing and integration services.  SAIC experts
 help enterprises worldwide meet their network, infrastructure, call center and
 desktop management needs by offering a better way to manage these assets
 through the application of SAIC's integrated services management processes.
     "ClearCube's innovative solution marks a change in the current PC
 environment," said Bob Lamkin, Venture Partner with TVM.  "Our fund focuses on
 IT & communications, ClearCube Technology's C3 architecture is a strong fit in
 our investment strategies."
     "With the close of our series C funding we are pleased to add our new
 investors TVM and SAIC-VCC, as well as the addition of the new alliance," said
 Mike Frost, president and CEO of ClearCube Technology.  "The current market is
 ready for a change in the managed desktop market.  With the support from our
 investors, ClearCube is poised to continue to define and lead the managed
 desktop market as well as provide innovative solutions that will radically
 change the management and service of networked environments."
     "As a leader in integration and outsourced support for enterprise
 deployment, SAIC plans to use ClearCube's architecture to provide increased
 levels of service to our customers," said Kevin Werner, president of SAIC
 Venture Capital Corporation.
     "We initially invested in ClearCube Technology because we believed their
 architecture and patent strategy would drive the evolution of the managed
 desktop," said Ed Olkkola, General Partner at Austin Ventures.  "Since our
 initial investment, the customer and press responses have warranted our
 initial beliefs and with our new investment we feel secure that ClearCube has
 both the management team and the roadmap to be a force in the developing
 managed solution arena."
 
     ClearCube Technology offers businesses a managed desktop architecture that
 resolves problems that currently abound in traditional managed PC environment.
 The patented C3 architecture gives customers the power of Intel-based PC
 performance in a secure, centralized, rack-mounted environment that users
 access from their desktop up to 200 meters away.  The unique distance
 technology provides improvements in manageability and security as well as
 increases reliability, performance and office space savings.
 
     About TVM
     TVM Techno Venture Management is a German-U.S. venture capital company.
 They create transnational businesses that enjoy access to science, management
 talent and capital on both sides of the Atlantic.  Their investments focus on
 two industries:  Information & Communication Technology (ICT) and Life Science
 (LS).  More information about the TVM can be found on the Internet at
 www.tvmvc.com .
 
     About SAIC VCC
     The SAIC Venture Capital Corporation (SAIC VCC) was founded in 2000 by
 Science Applications International Corporation (SAIC) to make equity
 investments in early-stage, high-potential companies to promote leading-edge
 technologies and develop key strategic relationships in the areas of
 telecommunications, information technology, the Internet and electronic
 commerce.  SAIC is the nation's largest employee-owned research and
 engineering company, providing information technology, systems integration and
 eBusiness products and services to commercial and government customers.  More
 information about the SAIC VCC can be found on the Internet at
 www.saic-vcc.com .
 
     About SAIC
     SAIC is the nation's largest employee-owned research and engineering
 company, providing information technology, systems integration and eBusiness
 products and services to commercial and government customers.  SAIC engineers
 and scientists work to solve complex technical problems in telecommunications,
 national security, health care, transportation, energy, the environment and
 financial services.  With annual revenues exceeding $5.5 billion, SAIC and its
 subsidiaries, including Telcordia Technologies, have more than
 41,000 employees at offices in more than 150 cities worldwide.  More
 information about SAIC can be found on the Internet at www.saic.com .
 
     About Austin Ventures
     Since 1979, Austin Ventures has grown to be the largest venture capital
 firm in the Southwest.  With more than $1.6 billion of capital under
 management, Austin Ventures is one of the largest venture capital firms in the
 United States.  Austin Ventures' investments include such companies as Tivoli,
 Vignette, Metasolv, Crossroads and Silicon Labs.
 
     About Sternhill Partners
     Headquartered in Houston, Texas, Sternhill Partners provides venture
 capital funding to technology start-ups in Texas, the Southwest and the West
 Coast.  The Sternhill team leverages its experience in product development,
 strategy, marketing, sales and finance with industry leaders like Compaq
 Computer Corporation, Motorola, McKinsey and PricewaterhouseCoopers to provide
 insightful business analysis to its portfolio companies.  With more than
 $100 million under management, Sternhill provides top-notch entrepreneurs a
 venture partner that offers knowledge, experience, contacts and capital to
 develop a successful business in today's technology marketplace.  For
 additional information about Sternhill Partners, visit
 http://www.sternhillpartners.com/
 
     About ClearCube Technology
     ClearCube was founded as a research and development company with the goal
 of developing cost-effective methods to transmit data faster and farther over
 existing copper wire.  ClearCube has become an industry leader in the
 transmission of data over long cable used in the managed PC environment.
 ClearCube's patented wire transmission technology reduces downtime, enhances
 security, saves space, and lowers maintenance costs.  For more information,
 visit www.clearcube.com .
 
 SOURCE  ClearCube Technology, Inc.