ENCRYPTIX, INC. ANNOUNCES NEW INVESTOR AND THE CLOSE OF $35.8 MILLION PRIVATE FINANCING
EL SEGUNDO, Calif. – May 16, 2000 – EncrypTix™, Inc. today announced that it has closed $35.8 million in a private financing by extending its first round to include a new investment from The Walt Disney Company (NYSE: DIS) and an additional investment from Sabre Holdings, Inc. (NYSE: TSG). In February, the company announced that it raised more than $30 million with the following investors: Stamps.com; Vulcan Ventures, Inc., the investment organization of Paul G. Allen; American Express Travel Related Services Company, Inc.; Galileo International; GetThere.com, Inc.; Loews Cineplex Entertainment Corporation; Mail Boxes Etc. USA, Inc.; Mitsubishi International Corporation; Sabre Holdings, Inc.; SunAmerica Investment, Inc.; and Tickets.com, Inc.
EncrypTix will provide highly secure storage, transmission, and verification of value over the Internet for the events, travel and financial services industries. The company was initially formed in late 1999 as a wholly owned subsidiary of Stamps.com (Nasdaq: STMP), which remains a majority shareholder.
“The successful completion of this financing advances EncrypTix’ position as the technology leader in this emerging secure delivery category,” said Jim Rowan, EncrypTix president and CEO. “Each of our strategic investors represents leadership in the three target markets for our technology, and we are excited that Disney has joined as an EncrypTix investor.”
Utilizing many of the proprietary, Internet-based technologies developed by Stamps.com, EncrypTix will enable sellers and distributors of tickets and financial instruments to deliver value-bearing instruments such as tickets, vouchers, boarding passes, checks and gift certificates over the public and private networks to any device, including printers, smart cards, PDAs, and wireless devices.
About EncrypTix, Inc.
Headquartered in El Segundo, Calif., EncrypTix, Inc. is a service provider of highly secure storage, transmission, and verification of value over the Internet. Focusing on the events, travel, and financial services industries, EncrypTix will deliver tickets, vouchers, certificates, and other forms of value-bearing instruments over public and private networks to any device, including printers, smart cards, PDAs, and wireless devices. Industry leaders will be integrating the company’s secure transaction, authentication and verification technology into their respective products and services. At the point of redemption, consumers will benefit from improvements in efficiency via shorter lines, faster processing times, and more personal services and targeted offerings. More information about the company can be found at www.encryptix.com.
EncrypTix and the EncrypTix logo are trademarks of EncrypTix, Inc. All other brands and names are the property of their respective owners.