Visto Gets $35M

REDWOOD CITY, Calif. -- Visto Corporation, the leading independent provider of mobile email, today announced the completion of its last round of financing with an additional $35 million investment from Altitude Capital Partners, LLC ("Altitude"). The funds will be used to accelerate Visto's continued worldwide growth, extend its product portfolio, and protect its foundational intellectual property. This investment is in addition to the $51 million announced in September, and completes the financing at $86 million.

"With this total of $86 million, Visto has a balance sheet that is stronger than any private company in this market. We have seen rapid growth with our customers over the last year and are exceeding BlackBerry volumes within key operator markets for the first time," said Brian Bogosian, Chairman, President and CEO of Visto. "In addition to this growth, over the course of the next few months, we will announce new strategic partnerships and mobile operator agreements. As the industry's only viable independent provider of mobile email, we are fully funded to support our worldwide partners and vigorously safeguard our intellectual property."

"Our investment in Visto provides Altitude with a unique opportunity to benefit from what we believe is an inflection point in the mobile email market, supported by the proven value of Visto's patented technology," said Robert Kramer, Managing Partner of Altitude Capital Partners. "We are focused on building lasting value for our investors and are excited about working with Visto's strong management team. We are confident Visto will play a meaningful role in capturing market share and benefiting from the market growth in the years ahead."

Visto Corp.