Santa Clara, CA, December 11, 2006: CIGNEX Technologies, a leading provider of Open Source Enterprise Content Management (ECM) Solutions, today announced that it has closed a round of funding with Apar Investments Inc., and Basil International Investments Ltd., both based in British Virgin Islands, and Honorex Investments Holdings Ltd. based in Mauritius. CIGNEX will use the proceeds to fund continued growth into the Open Source ECM market, including expansion of services, sales and marketing activities.
CIGNEX, headquartered in Santa Clara with additional offices in India, has emerged as a leader in the rapidly growing open source ECM space. With over 50 successful customer engagements and a broad solution portfolio, the company is poised to expand both the breadth and depth of services available to businesses and government agencies. "Having grown the company organically and profitably, with no outside funding, to the place we are today is extremely gratifying," said Navin Nagiah, CEO of CIGNEX. "We're now at a point where, with additional capital, we can build on the reputation and momentum we've generated and move the company to the next level."
"CIGNEX's combination of technical knowledge and integration expertise puts them in an excellent position to capitalize on the emerging open source application market," said Kushal Desai, Director, Apar Investments Inc. "Their track record of successful customer engagements and industry thought leadership speaks for itself, and we're very pleased to participate in their continued growth and success."
"From operating systems and servers through applications, open source is rapidly gaining acceptance as the gold standard. CIGNEX has been a leader in this space since the beginning, and understands how to leverage open source technology to build world-class solutions," said Rajeev Srivastava, Director, Basil International Investments Ltd. "With our investment, we intend to help CIGNEX extend their solution set and market leadership position."
About CIGNEX Technologies
CIGNEX is the leading provider of open source Enterprise Content Management solutions for businesses and government agencies. Using industry-standard platforms, CIGNEX develops applications that are less expensive, more extensible, and easier to support than the alternatives offered by proprietary vendors. By combining a range of consulting, development, training, support and ongoing maintenance services, CIGNEX offers multiple solutions that can be rapidly optimized for each customer's requirements. CIGNEX customers include Lawrence Livermore National Laboratories, Epson Electronics America, University of North Carolina Healthcare, University of North Carolina School of Medicine and OKI Semiconductor. CIGNEX was founded in 2000 and is headquartered in Santa Clara, CA. For additional information about CIGNEX please visit http://www.CIGNEX.com or call 408.327.9900.
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