RLX Technologies Closes $40 Million in New Funding; To Develop & Build a
New Class of High Density, Low Power Web
Servers HOUSTON--Feb. 21, 2001--
Soros Private Equity Partners Takes Lead in Series B, Joined by IBM and
Taking a major step in
its goal to Redefine Server Economics, RLX Technologies today announced that it
has closed a $40 million Series B round of financing led by investment
affiliates of Soros Private Equity Partners LLC. Additional Series B investors
include IBM, Ignition Corporation, Sternhill Partners and ComVentures. Soros,
IBM and Ignition are new investors in RLX Technologies. ComVentures and
Sternhill Partners both participated in the Series A
The company also announced that Soros Partner
Chris Michalik will be appointed to the RLX
"In the current funding environment, today's
announcement is an important validation of our strategy, our technology and our
management team," said Gary Stimac, CEO, RLX Technologies. "This
highly-respected team of investors recognizes RLX's vision and focus on dense,
highly efficient server platforms."
"The RLX high
density, low power solution could not be more timely given the physical and
economic barriers to growth that Internet Data Centers face with current server
technologies," said Chris Michalik, partner, Soros Private Equity Partners. "And
the RLX management team has an outstanding record of driving new, disruptive
technologies into the marketplace." ¶ The Series B round brings total RLX
funding to $59 million. Prior funding efforts have brought in $19 million from
the management team, VC investment firms and angel
The Company's first new server platform,
code-named "Razor," will ship to customers in the first half of
Soros Private Equity Partners LLC, an
investment affiliate of Soros Fund Management LLC, is responsible for making
direct equity investments on behalf of Soros Private Equity Investors LP. Soros
Fund Management is the well-known investment advisory firm founded by George
Ignition Corporation, headquartered in
Bellevue, Wash., is a premier venture capital firm dedicated to creating
powerful partnerships that bring together software, wireless, communications and
the Internet. Founded by former Microsoft and McCaw Cellular Communication
senior executives, Ignition's partners and principals all have operational
leadership experience in the software, Internet, communications and wireless
industries. Qualcomm, Softbank Venture Capital and Madrona Venture Group are
prominent investors and strategic partners. For more information please visit www.ignitioncorp.com.
ComVentures is a venture capital firm
whose partners all have hands-on experience in the communications industry.
ComVentures has consistently uncovered ground-breaking communications
technologies, helped lead and grow its portfolio companies, and assisted these
companies in deploying new technologies in an ever-changing marketplace. The
firm invests exclusively in early-stage communications and Internet companies.
For more information please visit www.comventures.com.
IBM is the world's number one server company
and information technology provider, with 80 years of leadership in helping
businesses innovate. IBM helps customers, business partners and developers in a
wide range of industries that leverage the power of the Internet for e-business.
For more information, visit www.ibm.com.
Headquartered in Houston,
Texas, Sternhill Partners provides venture capital funding to technology
start-ups in Texas, the Southwest and the West Coast. The Sternhill team
leverages its experience in product development, strategy, marketing, sales and
finance with industry leaders like Compaq Computer Corporation, McKinsey &
Co., and Coopers & Lybrand to provide insightful business analysis to its
portfolio companies. With more than $100 million under management, Sternhill
provides top-notch entrepreneurs a venture partner that offers knowledge,
experience, contacts and capital to develop a successful business in today's
technology marketplace. For additional information about Sternhill Partners,
RLX Technologies Inc.
Headquartered in the
Woodlands, Texas, RLX Technologies, Inc. is developing a new class of server
products using the Transmeta Crusoe processor that will dramatically recast the
dynamics of the server marketplace. The technology advances of Razor's unique
patented design and engineering features break new ground in addressing the
economic challenges faced by Internet Data Center customers, including: space,
power consumption, heat, reliability, deployment time and capital utilization.
For information about RLX Technologies, check out our Web site at www.rlxtechnologies.com.
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