======================================================
        VENTUREWIRE --- Tuesday, August 29, 2000
======================================================
           Private Company Business News
------ Published Daily by Technologic Partners -------
           http://technologicpartners.com
======================================================

Top Stories:

o Alteon WebSystems to Acquire Bluetail for $152 Million
o B2B Supply Chain Firm ICG Raises $117 Million in Round Two
o eCompanies and Sprint PCS Form Wireless Incubator
o Universal Pictures Set to Advertise on ReplayTV
o Web Payment Firm Bottomline Buys Checkpoint for $78 Million
o WhereNet Raises $20 Million in Mezz Round from Sun and Ford

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Also in This Issue:

     New Money:
o B2B Marketplace DigiGroups Gets $12 Million in First Round
o Mohr Davidow Funds First Round For Trillium Photonics
o Barcoding.com Announces Launch, Secures First Round Funding
o OSS Firm Thor Technologies Has $8.33 Million in Round One
o POPcast Communications Raises $10.8 Million Series A
o Wireless Firm iConverse Raises $11.1 Million First Round
o RedCelsius Software Raises $5 Million From Celtic House
o Web ECN LiquidityLINK.com Raises $1.3 Million In Series A
o Edial Secures $25 Million in Second Round of Financing
o Lightchip Secures $60 Million in Third-Round Funding
o MPEG-4 Firm iVast Gets $8.5 Million Second Round, Names CEO
o Optical Micro-Machines Names Additional Corporate Investors
o FairAir Secures $2.4 Million in Series B Financing Round
o Marketing Firm MediaPrise Receives $10 Million in Funding
o Telephia Raises $40 Million in Third Round of Funding
o $7.5 Million More for drkoop.com, New Board Pending Approval
o Adexa Raises $20 Million, Appoints Ex-Synopsis VP To Board
o Bainlab to Receive Equity in Web-Brokerage Firm UNX
o Net Accelerator 100x to Invest in Interactive Firm Freeloads
o Optical Networking Developer Centerpoint Raises $7.5 Million
o American Lawyer Media Acquires Stakes in Three Net Companies
o Online Desktop Management Firm Spirian Gets Third Round
o Online Pharmacy Familymeds Raises $39 Million in Round Four
o VSYS Receives Investment From Intel Communications Fund
o Optical Solutions Raises Additional $14.3 Million Series D
o Sitara Networks Raises $15.5 Million in Series G  Funding

     New Products:
o Seed One Launches Wearable Healthcare Monitoring Firm
o EdgeMail Technologies Changes its Name toWebBasis
o Sentry Systems Changes Name to Authentor Systems
o Integrated Network Solutions Now Called Raviant Network

     New Deals:
o Pacific Century CyberWorks Takes Stake in Weathernews

     M&A:
o Broadband Firm MegaPath Networks Acquires DSL Firm 1Terabit
o Adobe Buys Glassbook, Forms Deal with Barnes & Noble.com
o Nonstop Solutions Acquires D.P. Hamacher & Associates
o BET.com in Discussions to Acquire Music Site 360HipHop.com

     New Directors:
o Attune Developer Aveo Elects 3Com Exec Jef Graham to Board
o Deustche Bank Director Joins Phyve's Board of Directors
o ITF Optical Names Former Nortel Executive to Board
o Network ICE Elects Former 3Com CFO Chris Paisley to Board
o Former Savior CEO Joins Internet Commerce Firm InterTrade
o B2B Web Service Provider Contivo Elects Four to Board
o LavaStorm Elects Reuters Greenhouse Fund's Exec to Board
o Net Mortgage Appraiser Realink.com Elects Board of Directors
o Network Telephone Announces New Board Members
o Sourcing ASP SeventhVIEW Announces Board of Directors
o Symmetry Communications Systems Adds  to Board of Directors
o Virtacon Names Deutsche Bank Executive to Board of Directors
o Wireless Software Firm ThinkingBytes Names Four-Member Board

     New People:
o Encato Networks Taps Ex-Wall Data Chief as President, CEO
o Sybergen Networks is Now Sygate, Names New President and CEO
o E-Business Consulting Firm Omnient Hires New President
o Bargain Retailer Overstock.com Names COO as President

     VW Corrections:
o Castlebridge Technologies
o LearnSomething.com
o Asimba

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======= Top Stories =======

o Alteon WebSystems to Acquire Bluetail for $152 Million

STOCKHOLM, Sweden -- Alteon WebSystems said it signed
a definitive agreement to acquire Bluetail, a Swedish
IT company which develops software for Swedish and
international ISPs, for approximately $152 million
in stock.  Alteon will also incorporate Bluetail's
software technology into a suite of new applications
developed for Alteon's integrated ServiceDirector
platform. Investors for Bluetail include SEB Foretagsinvest.
http://www.bluetail.com/
http://www.alteonwebsystems.com/
_____________________________________________

o B2B Supply Chain Firm ICG Raises $117 Million in Round Two

PHILADELPHIA -- ICG Commerce, an Internet procurement
services provider, said it raised about $117 million
in second-round financing from a group of investors
led by Internet Capital Group. ICG Commerce is a
member of Internet Capital Group's network of partner
companies. Other investors in the round included
Staples, Unisys, Keppel, SMM Five, Graham Partners,
Invest Inc., Koch Ventures, and Enertech Capital.
Internet Capital received a board seat. Internet
Capital and Enertech are return investors. ICG Commerce
will utilize the funds for customer acquisition,
to enhance its bundle of goods and services, and
for global expansion.
http://www.icgcommerce.com/
_____________________________________________

o eCompanies and Sprint PCS Form Wireless Incubator

SANTA MONICA, Calif. -- eCompanies, an Internet
incubator, and Sprint PCS, a digital wireless network,
said they formed eCompanies Wireless, an incubator
dedicated to the creation of companies that offer
wireless consumer services, business services, and
infrastructure. Sprint PCS will make a $15 million
investment in the company and may provide it with
Sprint PCS technology. eCompanies will host the
wireless incubator at its existing facility in Santa
Monica, Calif.
http://www.ecompanies.com/
_____________________________________________

o Universal Pictures Set to Advertise on ReplayTV

UNIVERSAL CITY, Calif. -- Universal Pictures said
it formed an advertising agreement with Mountain
View, Calif.-based ReplayTV, a personal television
and digital video recorder service. Under the terms
of the agreement, Universal Pictures will promote
its movies by showing behind-the-scenes footage
on ReplayTV's service. With ReplayTV, viewers can
skip over commercials, which has raised concern
among some advertisers. Last week, ReplayTV withdrew
its initial public offering, citing unfavorable
market conditions. The company's investors include
Adelphia Communications, Comcast, EchoStar Communications,
Excite@Home, Grey Advertising, the Interpublic Group
of Companies, Matsushita Kotobuki Electronics Industries,
Motorola's broadband communications sector, News
Corp., Omnicom Group, Rogers Communications, Scientific-Atlanta,
Sega Enterprises, Sharp Electronics, Shaw Communications,
Universal Music Group, and Vulcan Ventures.
http://www.replaytv.com/
_____________________________________________

o Web Payment Firm Bottomline Buys Checkpoint for $78 Million

PORTSMOUTH, N.H. -- Bottomline Technologies, a provider
of Web-enabled billing, payment, and electronic
banking technology, said it acquired Checkpoint
Holdings, a Reading, U.K.-based e-commerce and electronic
payment software provider for about $78 million.
Bottomline will pay $15 million in cash, $20 million
in the form of a promissory note, 1,350,000 in newly
issued shares of common stock, and a warrant to
purchase 100,000 shares at $50 per share. Bottomline's
stock closed at $30.25 on Monday. Bottomline said
the purchase provides a distribution channel into
Europe as well as industry expertise. All of Checkpoint's
employees and managers will be merged intoBottomline.
Checkpoint is backed by Mercury Private Equity.
http://www.checkpoint.co.uk/
http://www.bottomline.com/
_____________________________________________

o WhereNet Raises $20 Million in Mezz Round from Sun and Ford

SANTA CLARA, Calif. -- WhereNet, a developer of
RF-based real-time locating systems for tracking
and managing supply-chain resources, said it secured
$20 million in its mezzanine round funding. The
funding was provided by Ford Motor and Sun Microsystems.
The company will use the funding for corporate expansion.
WhereNet has also been backed by Bay Partners, Crescendo
Ventures, Crosspoint Venture Partners, Foundation
Capital, RWI Group, and individual investor Ed Shea.
http://www.wherenet.com/

======= New Money =======

o B2B Marketplace DigiGroups Gets $12 Million in First Round

SANTA CLARA, Calif. -- DigiGroups, which provides
a software platform for distributed global communities
associated with online business-to-business marketplaces,
said it has secured $12 million in its first round
of funding from Accel Partners and Allegis Capital/Media
Technology Ventures. As part of the financing, Philippe
Bouissou of Allegis/Media Technology Ventures and
Arthur Patterson of Accel Partners have joined digiGroups'
board.
http://www.digigroups.com/
_____________________________________________

o Mohr Davidow Funds First Round For Trillium Photonics

MENLO PARK, Calif. -- Venture capital firm Mohr
Davidow Ventures said it was the only institutional
investor and led the first round of investment in
Trillium Photonics' $7 million first round of funding.
Mohr Davidow invested $6.5 million, with the remaining
$500,000 coming from individual investors. The company
will use the funding for research and development.
Ottawa-based Trillum Photonics, which provides fiber
optic infrastructure, was spun off from the Canadian
government's National Research Council. Trillium
is developing fiber optic amplifiers designed specifically
to handle optically switched communications traffic.
Telephone 613-993-2524.
_____________________________________________

o Barcoding.com Announces Launch, Secures First Round Funding

BALTIMORE -- Barcoding.com, an automated data collection
company, announced it has launched and secured an
undisclosed amount of first-round funding from unnamed
individual and institutional investors. The funds
will go to further develop the new Web site, increase
staff, and fund the company's move to a new 7,000
square foot facility.
http://www.barcoding.com/
_____________________________________________

o OSS Firm Thor Technologies Has $8.33 Million in Round One

NEW YORK -- Thor Technologies, which created CarrierBase,
an operational support systems platform for telecommunication
carriers, said it closed $8.33 million in its first
round of funding from sole investor Pequot Capital
Management. James McNiel, senior vice president
at Pequot, was named to Thor'sboard of directors.
The funds will be used for research, product development,
marketing, and recruiting.
http://ww.thortech.com/
_____________________________________________

o POPcast Communications Raises $10.8 Million Series A

LOS ANGELES -- POPcast Communications, a business-to-business
provider of self-service webcasting, said it closed
$10.8 million in its Series A round with lead investments
from Intel Capital and Telesystem. Other terms of
the funding were not disclosed. POPcast plans to
use the funding to launch the POPcast group of products
and services to businesses and consumers and for
research and development.
http://www.popcast.com/
_____________________________________________

o Wireless Firm iConverse Raises $11.1 Million First Round

WALTHAM, Mass. -- iConverse, a provider of speech
and wireless business e-commerce technology for
the Web, said it has raised $11.1 million in its
first round of funding. The round was led by Advanced
Technology Ventures and joined by Prism Venture
Partners. The company said the funds will be used
for the development of its products and services.
The company has raised $14 million to date. The
company was previously backed by individuals.
http://www.iconverse.com/
_____________________________________________

o RedCelsius Software Raises $5 Million From Celtic House

ALPHARETTA, Ga. -- RedCelsius Software, which produces
e-commerce and customer relationship management
software, said it has secured $5 million from Canadian
venture capital firm Celtic House. The funding is
an extension to RedCelsius' $20 million first round
raised from Blue Water Capital and First Union Capital
Partners.  The company is expects to complete an
initial public offering next year.
http://www.redcelsius.com/
_____________________________________________

o Web ECN LiquidityLINK.com Raises $1.3 Million In Series A

SHORT HILLS, N.J. -- LiquidityLINK.com, an Internet-based
ECN for the institutional money market community,
has raised $1.3 million in a Series A financing.
The round was led by Iggy Fanlo, a former managing
director at Morgan Stanley Dean Witter and currently
the COO and CFO of Dealtime.com. Other investors
include Garage.com, a venture capital investment
bank that provides funding services for technology
startups. Funds will be used for product development.
http://www.liquiditylink.com/
_____________________________________________

o Edial Secures $25 Million in Second Round of Financing

WALTHAM, Mass. -- eDial, which allows users to place
telephone calls online, said it received $25 million
in its second round of funding led by Atlas Venture.
Greylock Management and Matrix Partners also contributed
to the round. eDial's total financing raised to
date now stands at $31 million. The funds will go
towards research and development, marketing, technology,
company growth, and forming industry relationships.
http://www.edial.com/
_____________________________________________

o Lightchip Secures $60 Million in Third-Round Funding

SALEM, N.H. -- Lightchip, which develops optical
networking systems that focus on metro and accss-level
applications, said it raised $60 million in its
third round of funding, bringing its total venture
backing to $85 million. New investor Berkeley International
Capital led the round, which included previous investors
AT&T Ventures, J.P. Morgan Capital, LightPath Technologies,
and Morgenthaler Ventures. The company will use
the funding for further product development and
for sales and marketing. The company said it expects
to double its employees over the next few months.
http://www.lightchip.com/
_____________________________________________

o MPEG-4 Firm iVast Gets $8.5 Million Second Round, Names CEO

SANTA CLARA, Calif. -- iVast, a developer of interactive
streaming media technologies based on MPEG-4, said
it secured $8.5 million in second round financing
from BCE Capital, Centennial Ventures, Vanguard
Venture Partners, Venture Strategy, and Vulcan Ventures.
Separately, the company announced that Elliot Broadwin,
a founder and former CEO of OpenTV, will become
chief executive officer.
http://www.ivast.com/
_____________________________________________

o Optical Micro-Machines Names Additional Corporate Investors

DENVER -- Optical Micro-Machines (OMM), an optical
switching company, said Alcatel, Siemens, and Sycamore
Networks invested in its previously announced $75
million third-round financing. Alcatel, Siemens,
and Sycamore contributed $40 million to the round
initially reported in June. Other third-round investors
include Weston Presidio Capital, Atlas Venture,
Bessemer Venture Partners, Rho Management, and Sevin
Rosen Venture Partners. The company expects to use
the funds for product development and for other
purposes.
http://www.omminc.com/
_____________________________________________

o FairAir Secures $2.4 Millionin Series B Financing Round

SAN FRANCISCO -- FairAir, which is developing an
Internet exchange for transferable airline tickets,
said it raised $2.4 million in its Series B funding,
bringing its funding to date to $5 million. Megunticook
Management and individual investors funded the round.
Megunticook Management managing director Heberden
Ryan has joined the company's board of directors.
The company will use the funding for further product
development and launch. FairAir's individual investors
include Warren Adams, co-founder and former CEO
of PlanetAll.com; Mike Mauboussin, chief U.S. equity
analyst with Credit Suisse First Boston; Brian Robertson,
chief executive officer of Visible Markets; and
executives with Dell, Excite, HotMail, and Inktomi.
http://www.fairair.com/
_____________________________________________

o Marketing Firm MediaPrise Receives $10 Million in Funding

AUSTIN, Texas -- MediaPrise, a brand resource management
software and service provider for multi-channel
marketing, said it raised $10 million in a round
of funding. Investors for this round included Austin
Ventures, AV Labs, Access Venture Partners, and
additional individual investors, including Mike
Maples Sr., former executive vice president of Microsoft.
The company will use the funding for sales and to
develop channel relationships.
http://www.mediaprise.com/
_____________________________________________

o Telephia Raises $40 Million in Third Round of Funding

SAN FRANCISCO -- Telephia, a provider of marketing
and network performance intelligence services for
the wireless industry, said it has raised $40 million
in its third round of funding. Investors in this
round include AEA Investors, the lead investor,
and existing investors Oak Hill Venture Partners,
 Megunticook Fund, Prime New Ventures, and Cedar
Grove investments. The funds in the round will be
used to fuel growth and new product development.
The company has raised $54 million so far.
http://www.telephia.com/
_____________________________________________

o $7.5 Million More for drkoop.com, New Board Pending Approval

AUSTIN, Texas -- Publicly traded drkoop.com said
it expanded its latest round of financing from $20
million to $27.5 million. The round was led by ComVest
Venture Partners, with Internet restructuring fund
Eco Associates, Prime Ventures, NetStar Ventures,
JF Shea Ventures, and RMC Capital contributing.
Edwin M. Cooperman, former chairman of the Travelers
Bank Group; Marshall S. Geller, former senior managing
director for Bear Stearns & Co.; Scott J. Hyten,
founder of Interfase Capital and CEO of Eco Associates;
George A. Vandeman, former senior vice president
of corporate development and general counsel of
Amgen; and Joseph P. Wynne, chief financial officer
of Commonwealth Associates and ComVest Capital Partners,
are expected to join to the company's board of directors,
pending approval. Last week, drkoop.com announced
that theleadership of Prime Ventures would take
over the struggling company's top management posts.
Richard M. Rosenblatt replaced Donald Hackett as
the company's chief executive officer. Edward A.
Cespedes was named president and Stephen Plutsky
now serves as chief financial officer. Dr. C. Everett
Koop, former U.S. Surgeon General and a founder
of the company, and former CEO Donald Hackett continue
to serve on the company's board.
http://www.drkoop.com/
_____________________________________________

o Adexa Raises $20 Million, Appoints Ex-Synopsis VP To Board

LOS ANGELES -- Adexa, which enables companies and
trading exchanges to synchronize supply chain activities,
said it has raised $20 million in its Series C funding
round. Investors that participated in the financing
included round leader J & W Seligman, Amerindo Investment
Advisors, Vitria Technology, DRW Venture Partners
and previous investors Sutter Hill Ventures and
Information Technology.  The company said it intends
to use the funds to increase sales, marketing, research
and development, professional services staff and
activities, as well as to provide working capital.
Separately, the company said it appointed William
W. Lattin, a former vice president of Synopsis to
its board of directors. In conjunction with Mr.
Lattin's arrival, Adexa said Maartin Van Buren and
A. Brooke Seawell have stepped down from the board
of directors to pursue other opportunities.
http://www.adexa.com/
_____________________________________________

o Bainlab to Receive Equity in Web-Brokerage Firm UNX

LOS ANGELES -- UNX, a Web-based brokerage firm,
said bainlab, the business incubator of Bain & Company,
will provide it with business acceleration resources
in exchange for an undisclosed equity stake. Specifically,
bainlab will provide consulting resources. UNX allows
investors to assemble any collection of stocks into
a single group that can be bought, sold, and tracked
as if it were a singlefinancial instrument in real
time.
http://www.unx.com/
_____________________________________________

o Net Accelerator 100x to Invest in Interactive Firm Freeloads

BOSTON -- 100x, an internet startup accelerator
company, said it will invest an undisclosed amount
in its portfolio company, Freeloads, which develops
interactive, peer-to-peer networking technology.
The company filed for its first patent and is developing
its first product, Buzzpad, a platform for interactive
applications to directly connect users without going
through a centralized server. Freeloads is backed
by 100x and other institutional investors.
http://www.buzzpad.com/
_____________________________________________

o Optical Networking Developer Centerpoint Raises $7.5 Million

SAN JOSE, Calif. -- Centerpoint Broadband Technologies,
a developer of optical networking transport and
aggregation systems, said it has raised more than
$7.5 million in a follow-up of its third round of
funding from MKG-SBC Investments and the MKG Group.
The company said the funds will be used for the
further development of its optical networking technology
and systems. The company has raised a total of $65
million in funds. Prior investors in Centerpoint
include BancBoston Ventures, ComVentures, ViVentures,
Menlo Ventures, U.S. Venture Partners, and Cisco
Systems.
http://www.centerpoint.com/
_____________________________________________

o American Lawyer Media Acquires Stakes in Three Net Companies

NEW YORK -- American Lawyer Media, a national legal
journalism and information company, said it acquired
undisclosed equity interests in three private technology
companies that provide Web-based services to the
legal industry: CyberSecretaries, Expert Ease Software,
and Lawmatch. American Lawyer Media's backers include
Law.com.
http://www.americanlawyermedia.com/
_____________________________________________

o Online Desktop Management Firm Spirian Gets Third Round

CHICAGO -- WR Hambrecht + Co, a hi-tech financial
services firm, said it has invested an undisclosed
amount in Spirian Technologies, a Chicago-based
company that offers remote desktop management services
on a subscription basis via the Internet. The investment
is part of Spirian's third round of funding. The
company, which is also backed by individual investors,
secured $4 million in its previous round from Primus
Venture Partners. As a result of the investment,
Susan Valentine Baker of WR Hambrecht has joined
Spirian's board of directors. Also, Ken Wruk, the
co-founder of YesMail.com will also take a seat
on the board.
http://www.spirian.com/
_____________________________________________

o Online Pharmacy Familymeds Raises $39 Million in Round Four

FARMINGTON, Conn. -- Familymeds, formerly Arrow
Pharmacy and Nutrition Centers, an integrated retail
and online pharmacy, said it closed a $39.3 million
in its fourth round of financing, led by UnitedHealthcare.
Other investors participating in this round include
Validus Partners, ABS Capital Partners, Landmark
Partners, Coleman Swenson Hoffman Booth Group, Conning
Connecticut Insurance Fund, HLM Fund, Zesinger Capital,
Oxford Bioscience Partners, Pacific Venture Group,
and the Northwestern Mutual Life Insurance Company.
Robert NewKirk, a partner at Validus Partners,
and UnitedHealthcare chief executive officer Jeannine
Rivet will be joining the board of directors. The
newly acquired funding will be used for general
company expansion.
http://www.familymeds.com/
_____________________________________________

o VSYS Receives Investment From Intel Communications Fund

COLORADO SPRINGS, Colo. -- VSYS, a networking software
vendor specializing in softswitch technology for
the carrier market, said it received an investment
from the Intel Communications Fund and RockMountain
Ventures. Further financial details were not disclosed.
http://www.vsys.com/
_____________________________________________

o Optical Solutions Raises Additional $14.3 Million Series D

MINNEAPOLIS -- Optical Solutions, a company that
enables service providers to deliver voice, video,
and data services to the home over an all-fiber
optic network, said it has raised an additional
$14.3 million in Series D financing, bringing the
company's current equity funding round to $79.8
million. The largest investor in the additional
funding was Corning Cable Systems, who will work
with Optical Solutions to advance the adoption of
fiber optic networks in the home. The company has
raised approximately $165 million in funding. Investors
include Boston Millennia Partners, Star Capital,
Comdisco, Triumph Capital, Dain Rauscher Wessels,
St. Paul Venture Capital, Menlo Ventures, Coral
Ventures, and Concord Ventures.
http://www.opticalsolutions.com/
_____________________________________________

o Sitara Networks Raises $15.5 Million in Series G  Funding

WALTHAM, Mass. -- Sitara Networks, a provider of
software and hardware designed to allow big companies
and ISPs to more effectively manage their networks,
said it secured $15.5 million in Series G funding
from new investors MFS Investment Management, Deutsche
Banc Alex Brown, and Thomas Weisel Partners. Previous
investors Van Wagoner Capital, and Essex High Technology
Fund also participated. The funds will be used for
product development, sales, engineering, and management
staff expansion.
http://www.sitaranetworks.com/

======= New Products =======

o Seed One Launches Wearable Healthcare Monitoring Firm

DALLAS -- Seed One Ventures, a New York-based venture
capital firm that invests in technology-based companies,
announced the formation of Sensatex/LifeLink, which
is developing "Smart-Shirt," a wireless platform
for remote healthcare monitoring. Sensatex's board
of directors will include Ronald Gelman, former
chairman of Johnson & Johnson's pharmarceuticals
and diagnositics division, and Frank Young, former
commissioner of the Food and Drug Administration.
Sensatex is backed by Seed One Ventures.
http://www.sensatex.com/
_____________________________________________

o EdgeMail Technologies Changes its Name to WebBasis

BAKERSFIELD, Calif. -- EdgeMail Technologies, which
provides Web-based communication and messaging server
software, said it changed its name to webBasis.
The company said its new name would reflect the
company's range of business software and services.
webBasis is backed by Angel Partners, Canopy Draper
Associates, Hewlett-Packard, Moore Capital Management,
Network Associates, and Wasatch Venture Funds, a
fund affiliated with Draper Fisher Jurvetson. The
company developed a Web-based communications suite
and an information management suite of software.
http://www.webbasis.com/
_____________________________________________

o Sentry Systems Changes Name to Authentor Systems

ENGLEWOOD, Calif. -- Sentry Systems, a provider
of authenticationsystems to secure Internet commerce
and corporate information, said it has changed its
name to Authentor Systems. The company said its
new name better reflects the its mission to develop
next-generation user authentication management software
services and products. Authentor is backed by Catalyst
Partners, FLV Fund, Sandlot Capital, and SI Venture
Associates.
http://www.authentor.com/
_____________________________________________

o Integrated Network Solutions Now Called Raviant Network

OVERLAND PARK, Kan. -- Integrated Network Solutions,
which designs packet-switched, carrier-grade networks,
said it has changed its name to Raviant Networks.
Raviant has raised $55 million in capital from Crest
Communications Holdings and Apollo Management.
http://www.raviant.com/

======= New Deals =======

o Pacific Century CyberWorks Takes Stake in Weathernews

TOKYO -- The Japanese subsidiary of Internet investment
firm Pacific Century CyberWorks said it acquired
a $5.2 million strategic holding in Japan-based
Weathernews, a weather information provider. Weathernews
already provides PCCW's Web site, Network of the
World, with weather information for its weather
and natural phenomenon portal. It also provider
technology, production support, and personnel at
PCCW's London suite. Weathernews plans to extend
the scope of content it provides NOW to include
volcanic activity, earthquakes, and coverage and
analysis of deforestation. It also plans to support
NOW Japan when it launches in 2001.
http://www.now.com/

======= M&A =======

o Broadband Firm MegaPath Networks Acquires DSL Firm 1Terabit

PLEASANTON, Calif. -- MegaPath Networks, a national
broadband services provider, said it has acquired
New York-based privately funded DSL service provider
1Terabit for an undisclosed amount. The acquisition,
MegaPath's third, is the latest in a series planned
to continue deployment of broadband capabilities
and value-added services to its business customers
nationwide, the company said. MegaPath is backed
by U.S. Venture Partners and Trident Capital.
http://www.megapath.com/
_____________________________________________

o Adobe Buys Glassbook, Forms Deal with Barnes & Noble.com

SAN FRANCISCO -- Adobe Systems said it will acquire
Boston-based Glassbook, a developer of consumer
and commercial software for the electronic book
market. The financial terms of the acquisition were
not disclosed. Glassbook's employees will join Adobe's
electronic book team.  Separately, Adobe Systems
announced a partnership with Barnes & Noble that
enables users to gain access to Adobe PDF-based
electronic books at the Barnes & Noble.com eBookStore
using the Glassbook Reader software. As part of
the deal, Adobe will have a store on the Barnes
& Noble.com eBookStore site, and, at least initially,
Barnes & Noble.com will be Adobe's exclusive U.S.
electronic book retailer. Glassbook raised $2.5
million in first round financing from Hewlett-Packard.
http://www.adobe.com/
http://www.glassbook.com/
_____________________________________________

o Nonstop Solutions Acquires D.P. Hamacher & Associates

SAN FRANCISCO -- Nonstop Solutions, a provider of
demand chain optimization technology to manufacturers,
wholesale distributors and retailers said it acquired
D.P. Hamacher & Associates, a provider of databases
and category management for retailers and Internet
pharmacies. The companies did not disclose financial
terms of the deal. Investors for Nonstop Solutions
include Integral Capital Partners, Partech International,
Hambrecht & Quist, Omega Partners, Comdisco, Altos
Ventures, Kleiner Perkins Caufield & Byers, and
REI.
http://www.nonstop.com /
_____________________________________________

o BET.com in Discussions to Acquire Music Site 360HipHop.com

WASHINGTON -- BET.com, a portal for the African-American
community, and 360HipHop.com, an online site for
hip-hop music and culture, said they are in discussions
for BET.com to acquire 360HipHop.com. Under the
agreement under discussion, both Web sites would
continue to operate independently. 360HipHop.com
is backed by Sony Music Entertainment, Universal
Music Group, company founder and music producer
Russell Simmons, and other individual investors.
BET.com is backed by BET Holdings, Liberty Digital,
Microsoft, News Corp., and USA Networks.
http://www.bet.com/
http://www.360hiphop.com/

======= New Directors =======

o Attune Developer Aveo Elects 3Com Exec Jef Graham to Board

SANTA CLARA, Calif. -- Aveo, developer of the Attune
Service, a computer technical support service, said
it has appointed Jef Graham to its board of directors.
Mr. Graham is the senior vice president of the commercial
and consumer networks business at 3Com. Aveo recently
raised $17.2 million in funding from the Blackstone
Group, Dell Computer, Dynafund, FI Ventures, Forrest
Binkley & Brown, Idealab Capital Partners, Indosuez
Ventures, Intel, Times Mirror, and Walden Capital.
http://www.aveo.com/
_____________________________________________

o Deustche Bank Director Joins Phyve's Board of Directors

NASHVILLE, Tenn. -- Phyve, an Internet security
and infrastructure company for the healthcare industry,
said it has appointed Deutsche Bank director Thomas
J. Gahan to its board of directors. Before joining
Deutsche Bank Securities, Mr. Gahan served as a
managing director at Merrill Lynch. Recently, Phyve,
formerly Digital Medical Systems, closed a $12 million
financing round that included Entrust, Innova Solutions,
and individual investors.
http://www.phyve.com/
_____________________________________________

o ITF Optical Names Former Nortel Executive to Board

MONTREAL -- ITF Optical Technologies, which develops
passive photonic components, said it named Michael
Unger to its board. Mr. Unger is the former president
of Nortel's optical network business. The company's
backers include WITSoundview Ventures, Essex Investment,
Galen Investment Advisors, HRLD Venture Partners,
Oppenheimer, Tyco Ventures, GTI Capital, Celtic
House, Ontario Teachers Pension Plan Board, and
Newbridge Networks.
http://www.itfoptical.com/
_____________________________________________

o Network ICE Elects Former 3Com CFO Chris Paisley to Board

SAN MATEO, Calif. -- Network ICE, a provider of
corporate and consumer security, said that Chris
Paisley has joined its board of directors. Prior
to joining the board, Paisley served as senior vice
president and CFO of finance for 3Com for fifteen
years. Network ICE, which is backed by Intel, is
in the process of searching for venture capital
backing.
http://www.networkice.com/
_____________________________________________

o Former Savior CEO Joins Internet Commerce Firm InterTrade

CAMPBELL, Calif. -- InterTade Systems, an Internet
commerce service provider to the consumer packaged
goods industry, said it has appointed Scott Munro,
the former chairman and CEO of Savior, to its board
of directors. Mr. Munro is also chairman of the
board at Icras, a wireless hardware and software
company.  InterTrade has secured funding from HarbourVest
Partners, On-Line Ventures, and other individual
investors.
http://www.intertrade.com/
_____________________________________________

o B2B Web Service Provider Contivo Elects Four to Board

PALO ALTO, Calif. -- Contivo, a provider of auto-mapping
services for business-to-business e-commerce, said
it appointed four executives to its board of directors.
The new members are Don LeBeau, former vice president
of North American sales for Cisco Systems; Robert
C. Miller, CEO of Slam Dunk; Rory Driscoll, a principal
of Bank of America Ventures; and Phillip White,
former CEO of Informix Software. Contivo recently
raised approximately $8 million in its Series C
round of venture funding. The round was led by Bank
of America Ventures and included Tibco Software
and webMethods.
http://www.contivo.com/
_____________________________________________

o LavaStorm Elects Reuters Greenhouse Fund's Exec to Board

WALTHAM, Mass. -- LavaStorm, an Internet systems
engineering company, said it has appointed Marc
Goldberg to its board of directors. Mr. Goldberg
is the chief technology officer of Reuters Greenhouse
Fund. Prior to joining Reuters, he worked in Europe
and in the U.S., where his activities focused on
start-up creation, technology, business development
and management consulting. Mr. Goldberg will be
the sixth member on the LavaStorm board. LavaStorm
receives venture backing from Oak Investment Partners,
Intel 64 Fund, Lehman Brothers Venture Partners,
Reuters Greenhouse Fund, and Hummer Winblad Venture
Partners.
http://www.lavastorm.com/
_____________________________________________

o Net Mortgage Appraiser Realink.com Elects Board of Directors

PHOENIX -- Realink.com Appraisal Network, an e-commerce
company specializing in online appraisals for the
mortgage banking industry, said it elected its first
board of directors: Michael Schafer, president of
realink.com's three subsidiary companies; Neill
Fendly, president and CEO of Phoenix-based Pathfinder
Mortgage; Hrair Aredjian, COO and CFO of realink.com;
William Doyle, managing director at Insight Capital
Partners; Deven Parekh from Insight; Steve Green,
managing member of the General Partner - Blackwater
Capital Group; Alan Hald, the co-founder of MicroAge;
and Mark Korell, Group CEO for Silicon Valley Syndicate.
Insight Capital said it completed a $10 million
Series A round of funding in realink.com. The investment
will help finance the company's expansion through
marketing of its products and services to the financial
industry and through acquisitions.
http://www.realink.com/
_____________________________________________

o Network Telephone Announces New Board Members

PENSACOLA, Fla. -- Network Telephone, a provider
of facilities-based broadband telecommunications
services, elected three new members to its board
of directors. Lawrence C. Tucker, a senior partner
of Brown Brothers Harriman & Co.; Rohit M. Desai,
founder, chairman, president and chief investment
officer of Desai Capital Management; and Thomas
E. Darden, a managing director for Wind Point Partners
will join the board. Investors for Network Telephone
include Spectrum Equity and Onset Ventures.
http://www.networktelephone.net/
_____________________________________________

o Sourcing ASP SeventhVIEW Announces Board of Directors

DALLAS -- SeventhVIEW, an application service provider
which develops a digital marketplace that enables
manufacturers to collaborate with their vendors
and suppliers, announced the formation of its board
of directors. Led by chairman Sam Smith, a former
limited partner at Sevin Rosen, the company's board
also includes R. Stephen Polley, president of Trinity
e-Ventures, and Roger Hughes, a vice president of
Dallas-based incubator Startech. The three new members
join James Lancaster, the company's founder, president
and CEO, who was previously with Deloitee Consulting.
SeventhVIEW is backed by Trinity Industries.
http://www.seventhview.com/
_____________________________________________

o Symmetry Communications Systems Adds  to Board of Directors

SAN JOSE, Calif. -- Symmetry Communications, which
develops wireless Internet infrastructure products,
said it elected Thomas Huseby to its board of directors.
Mr. Huseby is a founder and a managing partner of
SeaPoint Ventures. Backers for Symmetry Communications
include Oak Investment Partners, Grove Street Advisors,
Seapoint Ventures, Acer Technology Venture Fund,
Acer Peripheral, PAC-LINK Fund, and VenGlobal Capital
Fund.
http://www.symmetrycomm.com/
_____________________________________________

o Virtacon Names Deutsche Bank Executive to Board of Directors

BOCA RATON, Fla. -- Virtacon, which provides Web
site and wireless Web site development products
and related services, said it named Mark Gelnaw
to its board of directors. Mr. Gelnaw serves as
global chief operating officer of the asset management
division of the Deutsche Bank Group, where he is
responsible for private equity investments of up
to $5 million. Mr. Gelnaw joins the company's chairman
Harold D. Copperman, a founding member of AOL's
board of directors; Edward M. Esber, Jr., chairman
of Solopint; Peter L. Getz, a managing director
at PaineWebber; and John T. Rose, a Compaq and Digital
Equipment executive. In July, Virtacon closed a
$2-million Series A round led by Deutsche Bank.
http://www.virtacon.com/
_____________________________________________

o Wireless Software Firm ThinkingBytes Names Four-Member Board

WATERTOWN, Mass. -- ThinkingBytes Technology, a
wireless/PDA company that provides software products
and services for the Palm Operating System, said
it has appointed four members to its newlyformed
board of directors. The board includes John Landry,
vice president of technology strategy at IBM; David
Patrick, former president of worldwide sales and
operations for the Learning Company; Steve Woit,
founder of Riga Ventures; and Jason Pavona, director
of wireless strategy and personalization for the
Lycos Network. ThinkingBytes was recently funded
by LycosLabs, the Common Angels, and individual
investors.
http://www.thinkingbytes.com/

======= New People =======

o Encato Networks Taps Ex-Wall Data Chief as President, CEO

SANTA CLARA, Calif. -- Encato Networks, which provides
technology, services and hosted applications for
small businesses, said it named Kevin Vitale as
its president and CEO. Mr. Vitale was the president
and CEO of Wall Data, which was acquired by NetManage
late last year. He has also been a board member
and vice chairman of the Washington Software Alliance.
Encato Networks is backed by the Pulsar Venture
Group, a member of the Pulsar International group
of companies.
http://www.encato.com/
_____________________________________________

o Sybergen Networks is Now Sygate, Names New President and CEO

FREMONT, Calif. -- Sybergen Networks, a provider
of secure Internet access products, said it named
John De Santis its new president and CEO. The company
also changed its name to Sygate Technologies. Mr.
De Santis succeeds company founder and former president
and CEO Chris Guo, who remains with the company
as chief technology officer. Mr. De Santis was most
recently senior vice president of sales and marketing
for Network Computing Devices. He also served as
vice president of European operations and international
sales with Cincinnati Bell and held management positions
at Delta Switch. Sygate Technologies has raised
a Series A round and is backed by Intersil and individual
investors.
http://www.sygate.com/
_____________________________________________

o E-Business Consulting Firm Omnient Hires New President

BLUE BELL, Pa. -- Omnient, an end-to-end e-commerce
consulting and development firm, said it has appointed
Al Chiaradonna as president and chief operating
officer. Mr. Chiaradonna is a former director of
e-commerce for the Southeast region of Arthur Andersen.
He has 13 years of consulting experience on emerging
growth companies and has developed strategy for
many brick and mortar companies. Omnient, in March,
secured first round investment from LLR Equity Partners,
L.P., NewSpring Ventures, and Odyssey Capital.
http://www.omnient.com/
_____________________________________________

o Bargain Retailer Overstock.com Names COO as President

SALT LAKE CITY -- Overstock.com, which sells name-brand
products online at clearance prices, said it has
appointed COO Karla Bourland as its president. Ms.
Bourland will also retain her COO title. Ms. Bourland
was a professor at Dartmouth College's Amos Tuck
School of Business and an adjunct professor at Dartmouth's
Thayer School of Engineering for nine years. Overstock.com
is backed by individual investors.
http://www.overstock.com/

======= VW Corrections =======

o Castlebridge Technologies

NEW YORK -- A story in yesterday's VentureWire about
a new board member for Castlebridge Technologies
incorrectly referred to the company as Castlebridge
Technology in the headline. The story also listed
an incorrect URL. the correct Web address is http://www.castlebridge.net,
not http://www.castlebridge.com.
_____________________________________________

o LearnSomething.com

NEW YORK -- A story in yesterday's VentureWire about
LearnSomething.com incorrectly listed the company's
Web address as http://www.learningsomething.com.
The correct URL is http://www.learnsomething.com.

_____________________________________________

o Asimba

NEW YORK -- An item in last Wednesday's VentureWire
about a Series C financing for a sports and fitness
site misspelled the company's name. It is Asimba,
not Asimbia.

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