Telus Invests $2M in ApparentTelus Invests $2M in Apparent

Telus announces $2M equity investment in Apparent Networks' $10.6M first round of institutional financing

February 26, 2004

2 Min Read

VANCOUVER -- Apparent Networks, the award-winning creator of theAppareNet network intelligence software suite, and TELUS Corporation,one of Canada’s leading telecommunications companies, have announced thefurthering of their strategic partnership. TELUS has completed anequity investment of $2 million USD in the Company’s first round ofinstitutional financing which brings total funding from all sources to$10.6 million USD.

“As an early adopter of the AppareNet software, TELUS was already wellaware of the impact the company's breakthrough technology could have onour customers' experience and our operational efficiency," said MarkSchnarr, TELUS executive vice-president of Corporate Development andPresident of TELUS Ventures. “We felt that Apparent Networks would bean excellent strategic fit for TELUS. The quality of their management,technology team and network intelligence software will help us achieveour goal of delivering the highest performing voice, data and videoproducts and services available anywhere. The biggest winners in thispartnership will be our customers.”

The AppareNet software suite has been recognized by technical supportorganizations, enterprises and others for its unique ability to providevisibility both within an enterprise and into remote customer networks,leading to rapid diagnosis of performance problems and specific data forsolutions.

“We are delighted to be partnering with TELUS on many levels, both as acustomer and as a strategic partner,” said Irfhan Rajani, president andchief executive officer of Apparent Networks. “Together, we are goingto bring meaningful, measurable improvements to the end-to-end customerexperience for businesses, governments and consumers. TELUS also adds apowerful distribution arm that will accelerate our ability to introducethe unique capabilities of AppareNet to more customers, faster.”

This announcement was well received by Leading Edge BC, an independentsociety under the BC Societies Act, which supports the growth anddevelopment of British Columbia’s technology industries.

“This strategic partnership further validates Apparent Networks’reputation as a leader in technological innovation,” said George Hunter,President, Leading Edge BC. ”It has gone from completing the largestinitial financing round for a Canadian software company in 2002 to beingnamed ‘Most Promising Start-Up’ by the B.C. Technology IndustriesAssociation last year. The growth trend should be accelerated by thenew strategic partnership with TELUS.”

Telus Corp.

Apparent Networks

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