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Appoints Industry Veteran To Its Board Of Directors
Foothill Ranch, California - March 17, 2003 -Aristos Logic, the developer of the world's first Intelligent Storage Processor, announced today the completion of a $20 million dollar funding round led by Woodside Fund. Also participating in this round were previous investors JP Morgan Partners, TPG Ventures, QTV Capital and a new investor, Macnica Inc. of Japan. In conjunction with the completion of this round, Aristos Logic has appointed Rick Shriner, a Venture Partner at Woodside Fund, to its Board of Directors.
"Given the very difficult funding climate, we are gratified to see all of our current financial investors enthusiastically participate in this round. This is a strong endorsement of the company from a group of top tier investors who have witnessed the progress we have made with our business and the success we have had with our leading customers," said Anil Gupta, President and CEO of Aristos Logic. "We are also very fortunate to have someone of Rick Shriner's caliber join our Board of Directors. Rick has been the CEO of two semiconductor startup companies and has held executive management positions at several leading technology companies, including Apple, Intel and Motorola. Rick's operational and management experience will be an invaluable asset to our organization," added Gupta.
"We view our investment in Aristos Logic as a strategic opportunity to partner with a company that is uniquely positioned to alter the networked storage landscape," said Rick Shriner of Woodside fund. "With unprecedented levels of performance and extensive storage management capabilities, Aristos Logic's Intelligent Storage Processor technology is poised to become a de-facto standard for enterprise storage products. We look forward to working with the company to achieve this goal," continued Shriner.
"The prior investor group is thrilled to re-invest in Aristos. We have witnessed Aristos make tremendous progress over the past 18 months. The team has executed on all fronts and we are proud to be part of an opportunity of this quality," added Vikram Gupta of JPMorgan Partners.
The investment will be used towards sales, marketing and production of the company's flagship FibreSliceTM device, the first product incorporating the Intelligent Storage Processor technology.
Headquartered in Foothill Ranch, California, Aristos Logic is a leading developer of innovative, paradigm changing silicon solutions for the networked storage market. Aristos Logic is the inventor of the Intelligent Storage Processor, a technology designed to bring a whole new level of performance, manageability, flexibility and scalability to networked storage. Founded in February 2000, Aristos is staffed by industry professionals with extensive experience in System on Chip (SoC) design, hard disk drives, networked storage, RAID controllers, networking, storage management and I/O interface technologies. For further information, please visit our Web site at www.aristoslogic.com.
Woodside Fund is a leading venture capital firm that excels in developing seed and early stage technology companies. Founded in 1983, the Fund attributes its long track record of success to the high value it places on building productive partnerships with entrepreneurs, investors and other resource providers. Typically serving as a lead investor, Woodside Fund invests from $5 to $15 million in early stage companies focused in the areas enterprise software and network infrastructure, located in Northern California and the West Coast. Woodside Fund has five funds with over $300 million under active management. For additional information, please visit our website at www.woodsidefund.com.
JP Morgan Partners (JPMP) is a global partnership with approximately $24 billion under management. It is a leading provider of private equity and has closed over 1,000 individual transactions since its inception in 1984. JPMP has more than 150 investment professionals in eight offices throughout the world. JP Morgan Partners' primary limited partner is J.P. Morgan Chase & Co. (NYSE: JPM), one of the largest financial institutions in the United States. For additional information, please visit our website at www.jpmorganpartners.com.
TPG Ventures is a venture capital firm with over $500 million under management, invests in early-stage companies focused on information technology and life sciences. TPG Ventures is an affiliate of Texas Pacific Group, a private equity investment firm founded by David Bonderman, James G. Coulter and William S. Price, III. Texas Pacific Group and its affiliated partnerships have aggregate committed capital of more than $7.0 billion, with more than $2.5 billion invested in technology and telecommunications worldwide. Formed in 2001, TPG Ventures has offices in Palo Alto, San Francisco, and London. For additional information, please visit our website at www.tpgvc.com.
QTV Capital is a private equity venture fund focused on the storage infrastructure of the enterprise. The QTV team leverages their real-world business backgrounds and deep domain expertise to help entrepreneurs create and build successful companies. Founded in March of 2000, QTV Capital invests across the storage value-chain in innovative start-ups that improve the capacity, reliability, flow, and safekeeping of data throughout the enterprise. For additional information, please visit our website at www.qtvcapital.com.
Aristos Logic Contact:
Adam Zagorski
Aristos Logic Corporation
T: (949) 380-3447
F: (949) 380-3499
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