Ampeak Energy Regulatory News (AMP)

22 Aug 2006 16:00

Amphion Innovations PLC22 August 2006 FireStar Software, Inc. Raises Additional $2 Million August 22, 2006 - Amphion Innovations plc (LSE:AMP.L) today announces that oneof its partner companies, FireStar Software, Inc., has raised $2 million in apreferred stock round of financing, against an initial target of $1.5 million.This financing will be used to further accelerate the company's marketing andsales efforts surrounding its flagship EdgeNode(TM) product. In January, Amphion announced a FireStar raise of $2 million. The financingannounced today brings Firestar's total financing for the last 12 months to $4million. FireStar Software is a leading provider of multi-enterprise business automationsoftware solutions. Its EdgeNode product is a next generation distributedsoftware platform that automates the exchange of business transactions betweenmultiple, independent enterprises. Today, many enterprises continue to exchangetransactions manually, while some others are connected by simple point-to-pointsolutions. Both of these approaches are prone to error, difficult to maintainin the face of rapid change, unresponsive to new client needs, and not costeffective as the number of users grows. EdgeNode provides enterprise customers with a highly scalable solution thateasily integrates with any message source and is customizable to meet the uniqueneeds of each enterprise participating in a transaction. By providing all ofthe functions that are required for a successful multi-enterprise integration inone product, EdgeNode allows a new or enhanced service to be created, deployedand maintained far easier than other existing technologies. "There is a huge need for increasingly sophisticated transactions, betweenenterprises, to be automated, but there are legacy issues and other hurdles thathave stood in the way of automation" said Amphion's Chief Executive Officer,Richard C. E. Morgan. "FireStar addresses these hurdles with solutions that areunique in that they are, at the same time, highly scalable, flexible and secure." In addition to the supporting sales and marketing efforts for EdgeNode, thefunding will be used to continue the expansion of business operations and toincrease the development of platforms that can serve specific vertical sectors,including payment systems and trading exchanges. "We are very pleased with the outcome of this preferred stock offering," saidKenneth Lord, Chief Executive Officer of FireStar. "This strong round offinancing is an endorsement of the competitive edge FireStar delivers tocustomers and it allows us to apply an increasingly focused approach to thespecific types of transactions that define the various sectors we serve." Amphion Innovations plcJosh Berkman, Media Relations+1 (646) 747-7158 Financial Dynamics+44 207 269 7169Ben AtwellJohn Gilbert FireStar Software, Inc.Chris Sanders+1 (978) 206-3563 About Amphion Innovations plc Amphion Innovations plc is listed on the AIM Exchange in London under the symbolAMP. Amphion's business is the formation, financing, management and developmentof life sciences and technology companies, working in partnership withcorporations, governments, universities and entrepreneurs seeking tocommercialize their intellectual property. This information is provided by RNS The company news service from the London Stock Exchange