Conectiva will use the investments to help expand its service network to other Latin American locations.
São Paulo, Brazil, January, 2001 - Conectiva announced today that it received
a new equity investment from ABN AMRO Bank. Conectiva's existing investors, Intel
Capital and LatinTech Capital, also invested in this round of financing. Financial
details were not disclosed.
Conectiva offers a Latin American version of Linux, as well as other additional products aimed at stimulating Open Source software adoption within the region. Conectiva will use the investments to help expand its service network to other Latin American locations; stimulate Open Source application software projects in vertical markets such as education, SOHO and public administration, among others; and consolidate its service provider partnership network in the supporting, consulting and training areas throughout Latin America.
About ABN AMRO
Bank Present in more than 70 countries with nearly 3,500
offices around the world, ABN AMRO Bank has a total assets of EUR 533,3 billion and is ranked as Europe's fifth largest bank.
In Brazil since 1917, ABN AMRO Bank acquired the Banco Real Bank and BANDEPE Bank in 1998, becoming the fifth largest private bank in the country. The merged operations of ABN AMRO Brazil has R$ 31.2 billions in assets and R$ 4.6 billions in equity.
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. In Latin America, Intel Capital invests through Intel Atlantic, Inc., a subsidiary of Intel Corporation.
About LatinTech Capital
LatinTech Capital is a venture capital holding company with
a major focus on Latin American technology companies. LatinTech acts as an active investor, assisting its portfolio companies with strategic planning, business development, partnership agreements, financial guidance, and management recruiting.
In addition to Conectiva Inc., LatinTech Capitals portfolio
currently includes other leading Latin technology companies,
such as Modulo, Neoris, Vesta Technologies, and Solvo.
About Conectiva Inc.
Founded in 1995, Conectiva is a Linux and Open Source pioneer in Latin America with Portuguese, Spanish and English versions. In addition to deploying customized Linux versions throughout the Latin American market, Conectiva also develops additional products and services related to Open Source software, such as books, manuals, software, embedded systems, OEM programs, application porting initiatives, training kits and the Linux Magazine. The company also provides the Latin American market with consulting and training services, and technical support through its own service centers and certified affiliates.
The private company is headquartered in Curitiba, Paraná, Brazil. Conectiva's Service Centers are located in São Paulo, Rio de Janeiro, Curitiba and Brasília, and also Buenos Aires - Argentina, Bogota - Colombia, and Mexico City - Mexico. For additional information on Conectiva's products and services, please visit http://www.conectiva.com or contact the company at 55-41-360-2600.