M68 Technologies, Inc. Secures Second Round Financing
Pacesetter Capital adds another $500K to distance learning start-up.
Dallas, Texas (PRWEB) August 29, 2005 -- M68 Technologies, Inc. (M68") announced today that it has secured a second round of venture capital funding in continued support of the launch and growth of M68 Technologies (www.m68tech.com), and their flagship service, NetLearn. The Dallas-based company stated that Pacesetter Capital Group (PCG"), also headquartered in Dallas, invested $500,000 in cash bringing the total amount of capital invested in M68 to approximately $1.7 Million. In July 2004, Pacesetter provided most of the initial $1.2 Million of funding of M68 in conjunction with M68s acquisition of certain assets of another company. Those two events led to the development and launch of M68s revolutionary distance learning and corporate training service, NetLearn. M68 intends to use the funds to expand sales and marketing activity and general growth requirements.
"We are extremely pleased with the capitalization provided by Pacesetter," stated John McDonald, Chief Executive officer, M68 Technologies. "Coupled with the previous funding and acquisition of physical assets and intellectual property, this additional funding will bring to fruition the next phase of the M68/NetLearn suite of service offerings."
About M68 Technologies
M68 TECHNOLOGIES, INC. (www.m68tech.com) offers educational institutions and corporations an entirely new way to deliver distance learning through its proprietary NetLearnTM system. NetLearnTM provides broadcast quality, live streaming and on-demand content in a secure environment to anyone with a broadband connection.
About Pacesetter
PCG is a north Texas-based private equity firm established in 1970 and holds the distinction of being the largest family of funds dedicated to achieving competitive returns, providing long-term expansion and/or acquisition capital to well-managed, growing businesses owned and/or led by Hispanic-American, African-American, Asian-Indian, Native-American, Asian-American, and/or woman company builders. Pacesetter has over $200 million invested with nearly 50 companies throughout the Southwest.
Contact Informatio
M68 Technologies, Inc.
John J. McDonald 972-248-7236 ext. 222
Martin Graul 972-248-7236 ext. 224
Pacesetter
Donald R. Lawhorne 972-725-0322
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