Tectura Obtains Equity Funding from Pequot Ventures
Tectura, the leading global provider of Microsoft integrated business solutions for mid-market companies and larger enterprises, announced today that Pequot Ventures, the direct investment arm of Pequot Capital, has invested an additional $5.0M in the form of preferred shares and notes convertible into preferred shares. The investment capital will be used to fund Tectura’s continued global expansion as well as for general working capital.
REDWOOD CITY, CALIF. - August 8, 2005 – Tectura, the leading global provider of Microsoft integrated business solutions for mid-market companies and larger enterprises, announced today that Pequot Ventures, the direct investment arm of Pequot Capital, has invested an additional $5.0M in the form of preferred shares and notes convertible into preferred shares. The investment capital will be used to fund Tectura’s continued global expansion as well as for general working capital. With this additional funding from Pequot Ventures Tectura intends to continue its global expansion that included a number of acquisitions in 2004 and 2005, most recently of the leading Asian Microsoft Business Solutions partner, the Enterprise Solutions Group. With this acquisition Tectura hit a milestone in terms of global reach. The company now is able to serve clients from 14 offices across Asia, with local representation in China, Hong Kong, Malaysia, Thailand, Singapore, Korea, Taiwan, Indonesia, India, and Japan. Tectura is now by far the leading global Microsoft Business Solutions partner, with offices in 63 cities across four continents and 19 countries, in addition to more than 4,000 clients located in 60+ countries, and over 1,300 dedicated team members. “Tectura continues its focus on staying true to its vision of becoming a global company, while maintaining a strong local touch,” said Terry Petrzelka, CEO of Tectura. “This translates into greater value for clients worldwide. We are encouraged by the trust and additional support we are getting from Pequot Ventures.” About Tectura’s Investor Group Pequot Ventures stands as Tectura’s leading equity partner and has been instrumental in establishing a world-class investment group behind Tectura’s business vision. As technology experts, Pequot Ventures finances companies developing industry-changing products for infrastructure, software and services, and technology-empowered healthcare companies. Thanks to public/private-side synergies, Pequot Ventures offers portfolio companies the connections, research muscle, and industry insight of a multibillion-dollar hedge fund. Pequot Capital Management is one of the largest privately owned investment firms in the United States with more than $7 billion of assets under management. Pequot Ventures is the private equity and venture arm with in excess of $1.7 billion invested in both public and private equity markets. Learn more at: www.pequotventures.com Among other major investors in Tectura’s Investor Group are Ritchie Capital Management, LLC, a diversified alternative asset management firm established in 1998 with interests in hedge funds, commodities, private equity, venture capital, insurance, energy and real estate and with offices in Chicago and Geneva IL, New York, London, Bermuda, Hong Kong and Menlo Park, CA – and GE Asset Management, which is a wholly-owned investment management subsidiary of the General Electric Company with over $175 billion in total assets under management. About Tectura Tectura is the world’s leading Microsoft Business Solutions partner and number one provider of Microsoft-based ERP, CRM, and technology solutions to mid-market companies and larger enterprises. Tectura provides software, consulting, and IT implementation services to more than 4,000 clients in the distribution, manufacturing, healthcare, and service-based industries. Through these services, Tectura delivers business process improvements, greater efficiency, and a clear competitive edge to clients in over 60 countries. Customers benefit from unmatched experience and a solid commitment from more than 1,300 dedicated Tectura employees with 60+ offices throughout 19 countries across North America, Europe, the Middle East, and Asia Pacific. A Microsoft Gold Certified Partner, Tectura has been recognized by Microsoft for its outstanding customer service with such awards as Pioneer of the Year 2005, U.S. Partner of the Year 2004, Global Partner of the Year 2003, Asia Pacific Partner of the Year 2002-2004, and Excellence in Customer Care 2003. Learn more at: http://www.tectura.co.uk Media contact: Alison Beaven +44 (0)20 7632 1200 alison.beaven@tectura.com