FOR IMMEDIATE RELEASE
Epitera, Inc. Announces A $3 Million Private Placement To Develop A New Home Computing Operating System
SAN JOSE – August 14, 2000 – Epitera, Inc., an emerging developer and marketer of home computing technologies based on the Linux platform, today announced it had received $3 million in a private placement.
Based in New York, with development headquarters in Givataim, near Tel Aviv, Israel, Epitera is developing a new operating environment in cooperation with the Linux Open Source community which will offer unprecedented ease of use, reliability and intelligence that will benefit both the experienced and novice user alike. Epitera was formed in December 1999 and now has more than 50 employees in the U.S. and Israel.
The company secured $1.5 million from Argoquest, a venture capital firm that invests in promising core computing technologies. The company received additional capital from a single private investor and is currently in the process of closing additional rounds of financing.
“Our mission is to combine the power and flexibility of Linux with an easy-to-use and intelligent interface which will spur the expansion of the Open Source technology in the home computing environment,” explains Yoram Salinger, founder, CEO and president of Epitera. “Our investors believe there is a significant opportunity for Epitera both in the growing home-PC area and as the digital home requires new and more powerful technologies to integrate with the ‘Internet-based computing.’”
Epitera plans to be a fully participating member of the Open Source community. The Epitera toolkit, AbsoluteX, will be developed with the Open Source Community and distributed through Lesser General Public License (LGPL) later this year.
Epitera, Inc. seeks to revolutionize the home computing experience with the development of core technologies for the home desktop and the digital home. The company has more than 50 employees in New York and Givataim, Israel.
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