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Actona Technologies Secures $7 Million in Series B Funding

Actona Technologies Inc, a leading provider of solutions for extending storage and applications over the Wide Area Network (WAN), has announced that it has secured $7 million in second round financing from leading venture capital firms Sequoia Capital, Evergreen Partners and Fantine Group. The company recently changed its name from VersEdge Technologies Inc to Actona Technologies Inc. Actona will use the funding to further develop its core technology and expand its business operations.

Actona Technologies offers innovative solutions that enable storage centralization, application acceleration and real-time information access over the WAN. Actona's patent-pending technology overcomes the barriers associated with using standard file systems directly over the WAN. Actona solutions optimize networking and storage infrastructure, speed application performance at the edge, accelerate information access and generate a measurable return on investment.

"In addition to being a strong endorsement of our technology and business strategy, this investment will allow us to bring to market our vision for providing distributed enterprises with efficient access to mission critical information," said, Randy L. Ditzler, president and CEO of Actona Technologies.

"Actona Technologies features one of the strongest technical development teams in the storage and networking space," said Haim Sadger at Sequoia Capital. "They represent a unique combination of expertise in wide area networking and storage technologies," he added. "Data accessibility and dissemination is critical to meet time-to-market pressures. In this information-centric market, enterprise-wide collaboration and seamless information access is paramount," said Rona Segev-Gal of Evergreen Partners who also added, "Actona's technology delivers global information access for distributed enterprises and we expect it to become essential for any enterprise in today's competitive market."

About Actona

Founded in March of 2000, Actona is a privately held company based in Los Gatos, California with offices in Haifa, Israel. Actona Technologies offers innovative solutions that enable storage centralization, application acceleration and real-time information access over the Wide Area Network (WAN). Our breakthrough technology enables Local Area Network (LAN)-like performance for file-systems over the WAN. Actona solutions optimize networking and storage infrastructure, speed application performance at the edge, accelerate information access and generate a measurable return on investment.

In July 2002 the Company successfully closed $7 million in venture funding, on top of the initial $2 million dollars which was secured in March 2000. The company is funded by Sequoia Capital, www.sequoiacap.com, a premier venture capital company targeting early stage investments, Evergreen Partners, www.evergreen-invest.com, a leading venture capital firm focused on early to mid-stage technology companies, and Fantine Group, www.fantinegroup.com, a business development firm specializing in forging ties between technology-oriented companies and top business partners throughout Europe.

For further information, please call or send e-mail to info@Actona.com.

Additional information may also be accessed on the Actona Technologies Website, www.actona.com.

Contact: Baruch Deutsch of Actona Technologies Inc, 408-399-8616, or baruch@actona.com.