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February 26, 2004 -VANCOUVER, British Columbia - Apparent Networks, the award-winning creator of the AppareNet network intelligence software suite, and TELUS Corporation, one of Canada's leading telecommunications companies, have announced the furthering of their strategic partnership. TELUS has completed an equity investment of US$2 million in the company's first round of institutional financing which brings total funding from all sources to US$10.6 million.
"As an early adopter of the AppareNet software, TELUS was already well aware of the impact the company's breakthrough technology could have on our customers' experience and our operational efficiency," said Mark Schnarr, TELUS executive vice-president of Corporate Development and president of TELUS Ventures. "We felt that Apparent Networks would be an excellent strategic fit for TELUS. The quality of their management, technology team and network intelligence software will help us achieve our goal of delivering the highest performing voice, data and video products and services available anywhere. The biggest winners in this partnership will be our customers."
The AppareNet software suite has been recognized by technical support organizations, enterprises and others for its unique ability to provide visibility both within an enterprise and into remote customer networks, leading to rapid diagnosis of performance problems and specific data for solutions.
"We are delighted to be partnering with TELUS on many levels, both as a customer and as a strategic partner," said Irfhan Rajani, president and chief executive officer of Apparent Networks. "Together, we are going to bring meaningful, measurable improvements to the end-to-end customer experience for businesses, governments and consumers. TELUS also adds a powerful distribution arm that will accelerate our ability to introduce the unique capabilities of AppareNet to more customers, faster."
This announcement was well received by Leading Edge BC, an independent society under the B.C. Societies Act, which supports the growth and development of British Columbia's technology industries.
"This strategic partnership further validates Apparent Networks' reputation as a leader in technological innovation," said George Hunter, president, Leading Edge BC. "It has gone from completing the largest initial financing round for a Canadian software company in 2002 to being named 'Most Promising Start-Up' by the B.C. Technology Industries Association last year. The growth trend should be accelerated by the new strategic partnership with TELUS."
About Apparent Networks:
Apparent Networks Inc., a privately held company, develops and markets network intelligence software that can analyze even the most complex global network infrastructures, identify the sources of problems within minutes and then perform continuous monitoring to ensure trouble-free performance. This complex and highly effective analysis can uniquely pinpoint network faults and provide clear, actionable data on any IP network, without requiring client-side agents, or ownership of the network. Its AppareNet software has helped companies, government agencies and educational institutions improve network performance and achieve rapid returns on their investments. Apparent Networks' customers include FedEx, DHL Systems, the United States Department of Defense, Bank of New York, Electronic Arts, Ceridian, TELUS and CNT. The company has offices in Seattle, WA and Vancouver, Canada. For more information, visit www.apparentnetworks.com.
About TELUS:
TELUS (TSX: T, T.A; NYSE: TU) is the largest telecommunications company in Western Canada and the second largest in the country, with more than $7 billion of annual revenue, 4.9 million network access lines and 3.4 million wireless subscribers. The company provides subscribers with a full range of telecommunications products and services including data, voice and wireless services across Canada, utilizing next generation Internet-based technologies. TELUS was a premier founding supporter of the successful bid to bring the 2010 Winter Olympic and Paralympic Games to Canada.
TELUS Ventures manages TELUS' venture capital fund, targeting start-up businesses and emerging technology ventures consistent with TELUS' strategy to exploit the convergence of data, voice, IP and wireless.
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