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RiverSoft granted £35m investment

By Sally Watson

Published: 24 February 2000 17:45 GMT

UK software start-up RiverSoft has won a $35m investment from a consortium led by Morgan Stanley Dean Witter Private Equity.

The funding will enable RiverSoft to expand its sales force and customer services, and continue development of its network management technology. Other members of the investment consortium include Cisco, Apax partners and BancBoston Robertson Stephens.

RiverSoft's intelligent network management software automatically maps out network connectivity and pinpoints the cause of failures.

Phil Tee, RiverSoft founder, chairman and CEO, said in a statement: "We are delighted to have attracted a consortium of investors that includes world leaders in their field such as Morgan Stanley, Cisco and Apax. This investment is a terrific endorsement of our technology, vision and people."

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