Series A Preferred equity financing with McDonnell & Associates and private investor Jürgen Manchot

January 28, 2004

1 Min Read

HERNDON, Va. -- Ecutel Systems, Inc., a provider of advanced secure mobility software for the enterprise, today announced that it has completed a $5.5 million Series A Preferred equity financing with McDonnell & Associates and private investor Jürgen Manchot. The proceeds will be used to enhance the Company's worldwide sales and marketing activities with its strategic resellers, which include Hewlett-Packard (NYSE: HPQ), Siemens Business Services (a division of Siemens AG NYSE: SI) and Matsushita Electric Works. Proceeds will also be used for integrating products from the recent acquisition of Inciscent, Inc.

Ecutel Systems' current products include Viatores, mobile VPN and Wi-Fi security suite, and Infrastructure Command & Control (IC2), a remote enterprise management software. These products deliver secure and simple access to critical corporate resources for the mobile workforce and IT operations managers.

"In 2003, Ecutel Systems focused its efforts on creating a customer base, developing distribution partners and enhancing products to meet the rapidly emerging demands in the mobility and Wi-Fi security arena," said Tom Matthews, Ecutel's President and CEO. "This investment will help us further develop those successes as the requirements for solutions addressing wireless security and mobility continue to accelerate in 2004."

Ecutel Systems Inc.

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