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Action Engine closes $15.5 million financing
Posted on 18-Mar-2003 07:55 | Tags Filed under: News

Action Engine closes $15.5 million financing
Action Engine announced it has closed a $15.5 million financing led by Baker Capital. Other new investors in the round include Cascadia Capital LLC and the Intel Communications Fund. All existing preferred investors (OVP Venture Partners, Northwest Venture Associates and Spangler Ventures) also participated. The company, which has 47 employees, has raised a total of $35 million since it was founded in February 2000.

The funds are slated for increased sales and marketing efforts in Europe, Asia and the US as well as further development of Action Engine’s Mobile Web Services Platform and Device Management Software platforms. Action Engine products are deployed by existing customers Orange SA (FOREIGN OTC: ORGEF), mmO2 (NYSE: OOM; LSE OOM), and the Company expects to announce a number of new mobile operator customers in the coming months.

The Action Engine Mobile Web Services Platform is a client-server solution for smart devices that, by using a thick client, provides a rich and easy-to-use experience, unparalleled network efficiency, and convenient and always-available access to applications and data independent of a network connection.

Action Engine provides a free downloadable SDK for its Mobile Web Services Platform that allows developers to build smart client, smart server applications using industry standard XML. These applications then run on top of the Mobile Web Services Platform on smart device operating systems like Symbian OS.

Action Engine also provides a comprehensive Over-The-Air Device Management Platform that simplifies device configuration, device registration, software maintenance, service provisioning, security, wireless data backup/restore, applications downloads, and more.

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