Short Take: BackWeb Technologies closes $20 million placement

BackWeb Technologies, a provider of software solutions for enterprise computing, has closed a $20 million private placement. Investors include GE Pension Trust, Intel, Merrill Lynch, Nippon Investment and Finance/Daiwa, and CDC Valeurs de Croissance. The company will use the funds to expand its domestic sales, international sales, marketing operations, and professional services operation.

July 28, 1998 6:00 p.m. PT

, a provider of software solutions for enterprise computing, has closed a $20 million private placement. Investors include GE Pension Trust, Intel, Merrill Lynch, Nippon Investment and Finance/Daiwa, and CDC Valeurs de Croissance. The company will use the funds to expand its domestic sales, international sales, marketing operations, and professional services operation.