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Force10 Networks
Force10 Networks was a pioneer in resilient Gigabit and 10 Gigabit Ethernet switching and routing. Founded in 1999, Force10 revolutionized networking with the E-Series switch/router—the first product to deliver true line rate 10 Gigabit Ethernet switching and routing. The Force10 E-Series switch/routers provide best-in-class resiliency, unmatched scalability and line rate performance in all deployment configurations. Based on a patented architecture that combines fully distributed hardware, and modular software, the E-series switch/router ensures predictable application performance, increases network availability and reduces operating costs.
In January 2009, Force10 merged with Turin Networks, which had previously purchased Carrier Access Corporation and White Rock Networks. Carrier Access Corporation itself had previously purchased Mangrove Systems and White Rock Networks had previously purchased Seranoa Networks. In August 2011, Dell acquired Force10 Networks.
Augury Capital's first investment into Force10 was made in June 2007.
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Clearent, LLC
(www.clearent.com)
Clearent is a St. Louis based rapidly growing payment processor whose proprietary low-cost technology, “best-in-class” merchant reporting suite, and responsive support enable financial institutions, ISOs and merchants to maximize the value of their merchant services program. Clearent’s intuitive, web-based systems are simple to use and provide at-a-glance business intelligence not available from other providers. Clearent’s hive computing platform ensures redundancy, maintains itself, requires minimal staff intervention, and scales easily as volume increases. Clearant has also developed a unique platform of both “Front-end” and “Back-end” technology, as well as merchant reporting mechanisms that is unheralded in the industry and in large demand. We believe that Clearent’s computing platform represents among the most advanced technology available in the processing industry and is the lowest cost platform in the industry. The company was formed in the summer of 2005 and after platform and product development, began to market its products and services to merchants in the third quarter 2007. Clearent is the first and only payment processing company to design and build its technology from the ground up and around the objectives of total transparency and flexibility. Clearent was the first payment processing platform in 14 years to be certified on MasterCard, Visa and Discover, and the first and only processing platform developed with .NET technology. Clearent supports all forms of payment, including credit card, signature and PIN debit, gift and prepaid card, petroleum and fleet card, electronic benefit transfer, electronic check, and ACH payments. Its platform also supports mobile, e-commerce and wireless transactions, and integrates with most POS systems. Clearent provides clarity with program and merchant level metrics that can be accessed live 24/7. In 2012, Clearent processed nearly $3 billion in payment transactions, and processed over 35 million transactions. David Truetzel is a Board Member of Clearent.
Augury made the first investment into Clearent in 2007.
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Circle Medical
(www.cirtecmed.com)
Circle Medical was a growing, profitable, medical device engineering services and clinical device manufacturing company with competency across all engineering disciplines, including Class II and III medical mechanical, electronics, software and complex mechanism design, and manufacturing. Circle Medical Devices, LLC (“Circle”) is based in silicon-valley (Los Gatos, CA).
Circle’s commitment to providing customers with the highest quality engineering and problem solving capabilities has established the Company as the “go-to” engineering firm for difficult and high-priority products. Circle serves a premier customer base including established major device firms as well as blue chip venture capital backed companies.
Circle grew from six employees to over 70 employees in a period of four and a half years. These professionals have extensive experience in bringing medical devices to market and have successfully completed over 200 projects. Circle’s experienced and diverse engineering talent comes from top schools such as Stanford and UC Berkeley with PhD’s and Master’s in all the engineering disciplines.
Circle has demonstrated very strong sales growth since its inception in 2004. Each completed project enhances Circle’s reputation as it adds to its impressive list of accomplishments and increases its knowledge base. Circle works only on a time and materials basis, which ensures its profitability on every job. Bob Wetzel was a Board Member of Circle Medical.
Augury made an investment in Circle Medical in April 2008. In 2009, Clrle Medical merged with Texcel Medical to form CirTec Medical. Bob Wetzel was a Board Member of CirTec Medical. Augury sold it's ownership in CirTec Medical to a Private Equity Group in November 2010.
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Texcel Medical, LLC (“Texcel”) was a leading contract medical device development, assembly and manufacturer located in Massachusetts. Texcel was started over 20 years ago, and on behalf of over 60 medical device clients, Texcel provided full medical device solutions including device design, development history file maintenance, quality (QA & QC), regulatory assistance, process validation, and general manufacturing, electronic testing, laser welding, and clean-room packaging for a wide range of product applications. Some of Texcel’s clients include large multi-National medical device companies, as well as numberous emerging medical device companies. Texcel has approximately 60 employees and is ISO 13485 and ISO 9001 certified. Texcel is considered to be the leading contract medical device assembly and manufacturing company for emerging and established Neurostimulation and active implantable (e.g defribulators, artificial hearts, acoustic implants and gastric stimulation) medical device companies. Texcel was rapidly growing. Bob Wetzel was a Board Member of Texcel Medical.
Augury made it's first investment in Texcel Medical in December 2008. In 2009, Texcel Medical merged with Circle Medical to form CirTec Medical. Bob Wetzel was a Board Member of CirTec Medical. Augury sold it's ownership in CirTec Medical to a large Private Equity Group in November 2010.
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Paranet
(www.paranet.com)
Paranet Solutions, LLC (“Paranet”) is an Information Technology (IT) services company to Fortune 1000 and upper middle market companies, based in Dallas, Texas and founded in 1991. Today Paranet has over 200 employees with offices in the U.S. Europe and South America. Paranet provides virtualization and storage management; security, risk management and compliance; server optimization and consolidation; data center design, infrastructure consolidation and relocation; unified communications; application services; and on-demand staffing. Paranet provides IT services for over 80 clients, including many recognizable Fortune 500 companies. Paranet is a leader in the RIM (Remote Information Management) space, by providing their proprietary Compass™ methodology to create fully connected, business-driven IT operating environments that are efficient, reliable and secure on behalf of their clients.
In 2008, Paranet made three acquisitions which broadened their service offering and added significant synergies which have resulted in a more competitive service offering in its marketplace. David Truetzel is a Board member of Paranet.
Augury made its first investment into Paranet in February 2009.
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Prepaid Expense Card Solutions
(www.pexcard.com)
Prepaid Expense Card Solutions (“PEX Card”) is a business prepaid card company launched specifically to help companies streamline employee expense management. PEX Card is the prepaid card industry's first turnkey commercial card program. Customers self service using online tools for budgeting and controlling pre-funded deposits that employees use for day to day spending. The PEX Card Service provides visibility into cash flow while simultaneously maximizing control and managing risk. PEX Card is committed to making card-based payments common in the workplace by introducing useful products companies of any size can access easily and economically. The Company’s services bring together the components businesses need to make corporate disbursements controlled and efficient.
Augury Capital made an investment in PEX Card in July 2012.
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