May, 2001 : Surebridge Secures Equity, Inks Deal With Compaq
📅 - Mid-market Application Service Provider (ASP) Surebridge Inc announced today that it had secured $20 million in equity and penned a joint marketing deal with computer manufacturer Compaq.
Surbridge, which provides ASP services for approximately 60 customers and employs 220, closed on $15 million of committed equity capital from a group of investors that included Axxon Capital, Compaq Computer Corporation, Providence Growth Investors, The Goldman Sachs Group and a group of executives at Thomas H. Lee Partners. The company also secured a $5 million line of credit from Fleet National Bank. Surebridge is confident the deal "Will only strengthen our customer service focus and ability to deliver quality solutions," said Stephanie Khurana Surebridge's CEO.
Aside from securing a round of equity, the company also announced today that it had entered a strategic alliance with Compaq that will see not only equity investment in Surebridge by Compaq, but joint marketing and system standardization programs as well. The agreement will see the two companies work together on a marketing level, and will also see the installation of Compaq servers and storage systems in Surebridge's customer hosting environment.
Surbridge, which provides ASP services for approximately 60 customers and employs 220, closed on $15 million of committed equity capital from a group of investors that included Axxon Capital, Compaq Computer Corporation, Providence Growth Investors, The Goldman Sachs Group and a group of executives at Thomas H. Lee Partners. The company also secured a $5 million line of credit from Fleet National Bank. Surebridge is confident the deal "Will only strengthen our customer service focus and ability to deliver quality solutions," said Stephanie Khurana Surebridge's CEO.
Aside from securing a round of equity, the company also announced today that it had entered a strategic alliance with Compaq that will see not only equity investment in Surebridge by Compaq, but joint marketing and system standardization programs as well. The agreement will see the two companies work together on a marketing level, and will also see the installation of Compaq servers and storage systems in Surebridge's customer hosting environment.
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URL source: http://www.thewhir.com/marketwatch/surebridge529.cfm
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