NEWS RELEASE NOVEMBER 12, 1997 SOLID SECURES ADDITIONAL FUNDING Solid Information Technology Ltd Receives Additional Funding to Support its Rapid Internationalization Solid Information Technology Ltd has today received a capital injection of close to FIM 20 million (USD 4 million) from Arctos Capital Ltd and Novo Group plc. The two companies have also acquired all Solid shares previously held by the Finnish National Fund for Research and Development SITRA and now together have a majority stake in Solid. Mr Timo Jouhki, President of Arctos Capital, and Mr Jorma Kielenniva, President of Novo Group, have joined Solid’s Board of Directors. The remainder of Solid’s shares continue to be held by the founders, management, and employees of the company. "The data management marketplace is in turmoil", observes Mr. Pekka Roine, Chairman of Solid Information Technology Ltd. "We see a paradigm shift towards a completely networked model. We also see computing power being embedded in ever increasing numbers of appliances. Legacy database solutions are unable to fulfill the new requirements for extreme embeddability and reliable synchronization. We have designed Solid's data management components to serve the new paradigm, and our recent partnerships are ample proof thereof. The investment we received today will be used to additionally fuel our rapid expansion." Solid Information Technology Ltd Solid Information Technology Ltd is a fast-growing high-technology software company, founded in Helsinki, Finland in 1992. The company develops and markets data management components for embedded use in products. Solid’s data management components are used worldwide in numerous mission-critical systems such as point-of-service systems, network management systems, internet servers and industrial products. The cornerstones of Solid’s data management components are: small size, robust performance, reliable operation, rapid installation, and easy maintenance. Further Information Solid Information Technology Ltd Arctos Capital Ltd Novo Group plc SOLID Server is a trademark and the Solid logo is a registered trademark of Solid Information Technology Ltd.
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