Resulting from a Teamware Group management initiative, Europe's leading venture capital company 3i has decided to invest substantially in Teamware's web community software and services. Teamware has until now been a 100 % subsidiary of Fujitsu Limited, which will remain a major owner of the group. 3i will secure Teamware's growth on the emerging community software market with clear financial expectations of profitability and increased revenue. 3i will hold 46 %, Fujitsu 43 % and current management 11 % of the company.

In 2001 Teamware Group started seeking private equity financing and strategic partners to enlarge its ownership structure, further develop its products, find opportunities for complementary product offering and transform its technological strength into global market leadership in chosen segments. "3i offers a powerful combination of investment, knowledge, inspiration and connections providing capital to enable growth, global sector expertise and industry contacts. We require resources for further growth and expansion. Currently we have plans for acquisitions in the UK, the Benelux region, and the US. We will also be broadening our partner network, and investing in product development," describes Rauno Toivonen, President and CEO of Teamware Group.

In three years, Teamware has changed from a company operating mainly as an R&D focused unit of Fujitsu in indirect channels into a directly customer-focused organization. In line with this strategy, Teamware has acquired web consulting companies in Finland and Sweden and a minority shareholding in a US-based company.

"3i believes in Teamware's technology, people, products, extensive customer base, partner network, their own IPR and global brand," confirms Investment Director Berndt Schalin from 3i Finland. "We were especially pleased to see their systematic and focused growth strategy and believe that we can develop the value of the company together with the professional management team and Fujitsu", Berndt Schalin concludes.

"We are pleased to announce this agreement with 3i", said Junji Maeyama, Chairman of Teamware Group and Senior Vice President of Fujitsu Limited. "Teamware has been a key innovator of business models and technology within the Fujitsu Group. We want to continue to capitalize on innovative software and services also in the future. Teamware will now adopt a new approach in order to achieve the desired mode of operation and market presence. As Fujitsu continues to implement its vision of 'Everything on the Internet', we are proud to see Teamware Group moving in the same direction as a forerunner in pursuing leading edge technology. The 3i network introduces Teamware Group to sector expertise and industry contacts on a global scale."

Networking in extended enterprises
According to Gartner, more than 50 % of enterprises will include community features as part of their customer service strategy by 2005. Thus, communities will be a part of an enterprise's online future, whether they are formed by employees, with customers or business partners. Investment in such collaboration must offer more than improved internal productivity. In three years' time, Gartner predicts that 80 % of enterprise investments in improved collaboration will target processes crossing enterprise boundaries. Also Forrester Research has stated that one of the bright spots in IT in 2002 will be collaborative software applications.

Teamware's web community-based solutions take web usage to a new level — beyond mere technology to a people-oriented web. In addition to a solid technology platform, Teamware offers enhanced usability by providing a space on the web that anticipates how different organizations want to work with colleagues, partners and customers.

Teamware provides software and services with a unique community concept for interactive intra, extra and Internet solutions. Together with Fujitsu, a leading provider of Internet-focused information technology solutions, and 3i with financial resources and investment in more than 300 information technology companies, Teamware will focus on customers in chosen segments, acquisitions in key markets, and ensuring Teamware Pl@za® continues at the leading edge of technology. Teamware will also continue to develop and actively sell Teamware Office™, its well-known groupware solution for today's business professionals.