SOURCE: Intel Capital

January 23, 2008 14:52 ET

Intel Capital Makes Series A Investment in REvolution Computing

Investment Highlights Intel Capital's Open Source Incubator Program

SANTA CLARA, CA--(Marketwire - January 23, 2008) - Intel Capital, the global investment arm of Intel Corporation, today announced that it has invested in the Series A financing of REvolution Computing, creator of parallel computing software for computational statistics. The funds will be used to advance REvolution's product offerings and expand into new markets.

REvolution Computing provides RPro and ParallelR, which deliver the open source 'R' statistical tool with commercial support and the power of parallelism. Already used throughout life sciences, financial services, manufacturing and energy, the R statistical packages are now being deployed and supported by REvolution Computing for production, commercial, and regulated environments.

"REvolution Computing's innovative technology provides a much-needed solution for many industries, including financial services, health-care and retail," said Arvind Sodhani, president of Intel Capital. "This approach to business-ready open source solutions aligns with Intel's platform strategy and continues our commitment to investing in the open source community."

"Intel Capital has a long history of investment in open source enterprises, beginning in 1998 with our investment in Red Hat," said Lisa Lambert, managing director, Software & Solutions Group, Intel Capital. "We also provided subsequent funding for innovators such as: SuSE Linux, JBoss, MySQL, Zend Technologies, Fonality, CollabNet, and Black Duck, among others. REvolution Computing's involvement in Intel Capital's Open Source Incubator Program is just the latest illustration of our ongoing commitment to fostering new business models and encouraging open source software solutions."

This is the second investment made under the Intel Capital Open Source Incubator Program. Founded in January 2006, the program was created specifically to drive investments in open source projects and accelerate the adoption of open source on Intel platforms. Intel Capital's first investment under this program was WS02, a web services platform company with primary operations in Sri Lanka. The program provides seed capital, computing resources, office facilities, and solution services through Intel's global network of IT Innovation Centers where developers work directly with Intel engineers to develop, test, and performance tune software for the latest Intel platforms.

"The use of 'R' has been growing steadily since 1995 and 'R' is now the standard computational statistics package for an estimated one million users(1) of statistical software worldwide," said Richard Schultz, CEO REvolution Computing. "Our products for computational statistics are fully supported, easy to use, with commercial features and automatic parallel processing. We're excited about this investment from Intel Capital and value their vision and commitment in this emerging segment of the market."

In conjunction with Intel Capital's investment, REvolution Computing's Board of Directors has been expanded to include: Andre M. Boisvert, former Oracle executive, former President and COO of SAS Institute Inc., and now Chairman of several open source companies including Pentaho, an open source business intelligence (BI) suite; and Michael P. Haydock, former President and CEO of Cray Research and now VP in HP's Business Intelligence (BI) Division. Additionally, Dr. Martin Schultz, one of the leading researchers in parallel computation over the past 30 years at Scientific Computing Associates has joined the company as Chief Science Officer.

"R has become the de-facto statistical language and REvolution Computing's R-based solutions provide the necessary scale and support for its growing commercial usage," said Andre M. Boisvert, REvolution Computing board member. "With this investment, REvolution Computing can deliver the type of performance that is lacking in existing business intelligence solutions."

About Intel Capital

Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$6 billion in approximately 1,000 companies in more than 40 countries. In that timeframe, about 157 portfolio companies have gone public on various exchanges around the world and another 187 have been acquired by other companies. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.

About REvolution Computing

REvolution Computing is headquartered in New Haven, CT and provides commercial support and parallel computing enhancements for the open source R statistical/business intelligence tool. REvolution also provides parallel processing enhancements for a number of commercial applications. For more information on REvolution Computing, R-Pro, and Parallel-R; visit http://www.revolution-computing.com.

(1) Estimate based on survey conducted via useR! mailing list, 2006.

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