26 July 2010
Endace Limited
Notification of External Funding Announcement
Endace Limited (LSE/AIM: EDA, "Endace" or "the Company") is pleased to announce that it is has received funding of NZ$4,444,269 (£2,060,748) from the New Zealand Foundation for Research, Science and Technology's business investment programme, TechNZ.
The funding is for 50 per cent of business costs associated with a series of major product developments planned for the next 24 months. It enables Endace to accelerate a number of significant projects that will ensure that the company remains at the cutting edge of packet capture and analysis technologies.
The funding will not have a material impact on Endace's expected results for the current financial year.
"We are delighted to have received TechNZ funding which will be used to advance our platform capability, and to develop further our Cyber Security and Low Latency Monitoring solutions," says Mike Riley, Chief Executive Officer, Endace.
Foundation Chief Executive Murray Bain says that Endace's success demonstrates how strategic investment can see a company grow from a start-up to a world leader.
"We are delighted that our investments have helped underpin the company's success getting their innovative products to the global market faster," Mr Bain says.
Ends
CONTACTS:
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Endace Limited
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+64 9 582 0360
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Ian Graham, Chairman (NZ)
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Mike Riley, Chief Executive Officer (NZ)
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Neil Hopkins, Finance Director (NZ)
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Weber Shandwick
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Nick Oborne or Stephanie Badjonat
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+44 20 7067 0700
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Panmure Gordon
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Edward Farmer
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+44 20 7459 3600
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About Endace
For organisations that rely on their data networks to do business, Endace provides high performance traf-fic analysis, latency measurement, network security and application acceleration solutions that capture, inspect and report on every single data packet.
Our product portfolio includes high-speed packet capture technology, open development environments, multi-function network monitoring appliances and a comprehensive range of powerful yet intuitive management, measurement, alerting and analysis applications. These products provide the broadest, most capable range of packet capture technology, for any interface, speed or packet type. We enable our customers to be confi-dent in their service performance, traf-fic monitoring, information security, and regulatory compliance.
Based in Auckland, New Zealand, Endace also has of-fices in the UK, USA and Singapore. Quoted on London's AIM, the stock code is LSE: EDA.