Orsus Solutions, a leading provider of integration solutions for powering business to
business e-commerce, announced today the completion of a $40 million private
placement, at a post-money valuation of about $150 million. Investors in this
second round of financing include Koor Industries, Clal Industries, and select
venture capital funds and individuals including Cedar Fund LP and Iscar
Industry's Eitan Wertheimer.
Orsus Solutions develops powerful integration platforms for powering business
to business e-commerce. Orsus' iGlue(TM) product family enables quick and
cost-effective linking of information systems over the Internet, thereby opening
the door to new e-business opportunities. In the quickly changing Internet
environment, Orsus' platforms deliver the capability to automate business
processes between suppliers, distributors, customers and other partners, so
that organizations can for the first time realize the Internet's full potential.
Chairman and CEO of Orsus Solutions and founder of the NASDAQ-traded
Mercury Interactive Aryeh Finegold commented, "Integration of Internet
business applications is critical to the future of e-commerce. This significant
second round of financing provides us with the resources to develop and bring
to market additional tools to make e-business operations profitable."
Orsus Solutions' iGlue/Web(TM) is an Internet Application Integration enabling
technology for driving e-commerce between various business partners and
customers. Amir Weinberg, CTO and co-founder, commented, "Traditional
approaches to integration are too time-consuming and complex for the realities
of e-business. Orsus is committed to enabling businesses to connect their
systems within days."
Published by Israel's Business Arena on April 13, 2000.