CallWare Technologies Announces Completion of $15 Million Private Placement

CallWare Technologies, Inc., a leading provider of voice mail and network-enabled computer telephony software, today announced the completion of a $15 million private placement of equity securities. In conjunction with this offering, founder and former president R. Craig Hansen sold a large block of common stock, reducing his ownership to less than 15 percent. Mr. Hansen is no longer involved in company operations.

This offering is in step with CallWare’s mission to become the leader in computer telephony solutions, expanding the company’s marketing efforts and further developing sales and distribution channels.

“CallWare is experiencing tremendous demand,” said Reino Kerttula, CEO and President of CallWare. “This funding provides CallWare’s new management team the resources necessary to accelerate this growth. We have built a solid new management team that is focused on making our current products better and developing new products that provide our customers cost-effective communication solutions available on Windows NT and NetWare. Our new financial partners provide CallWare with long term financial stability.”
CallWare’s three new investment partners are: NationsBank Capital Investors, Chancellor LGT Asset Management and RRE Investors, LLC.
NationsBank is one of the largest financial services companies in the United States. The company is well known for its capital strength, market position, and focus on doing business in all sectors of the communities that it serves.

Chancellor LGT Asset Management manages more than $30 billion in private and public equity and fixed income strategies for corporations, public funds, insurance companies, 401(k) plans, endowments and foundations, and serves as the North American investment advisor for a number of the GT Global mutual funds. The Private Capital unit of Chancellor LGT manages over a billion dollars in private equity investments and venture capital funds.

RRE Investors is a venture capital firm that makes select investments in information technology companies principally serving the Fortune 500 and their global equivalents. Special emphasis is placed on software and related companies focused on the digital communications.

“NationsBank, acting as a lead investor, chose to invest in CallWare for three major reasons,” said Doug Williamson, Sr. Vice President of NationsBank’s Capital Investors Group. “CallWare has a channel of nearly 1,100 resellers — trained on CTI; CallWare has built strong worldwide distribution relationships; and CallWare has industry-leading technology that delivers the promise of uniting networks and telephone systems. Our investment positions CallWare to further develop their presence in the marketplace and to expand key marketing successes and partnerships with other companies.”

A leading-edge telecommunication company for three decades, Callware Technologies, Inc. develops voice and telephony enabled solutions. Known for its flagship Callegra.UC product, Callware provides voicemail, unified messaging, auto attendant, text to speech (TTS), voice recognition, and the ability to get access to voice and fax messages from the telephone, mobile client, desktop client, or the Internet. The product supports VoIP, SIP and other PBX integrations. Callware produces high security versions of its product, one of which is the Callegra.UC JITC product, created specifically for the United States Department of Defense (DoD). Callware’s products are installed in thousands of locations throughout the world. Callware Technologies corporate headquarters are located in Salt Lake City, Utah.