TimeSys Closes $15.5 Million in Venture Round Led by Adams Capital Management

3/11/2002 - TimeSys Corporation today announced that it has secured $15.5 Million in equity financing. Adams Capital Management led the round with participation from The Hillman Company, Sun Microsystems (Nasdaq: SUNW), Philips Electronics, a division of Royal Philips Electronics (NYSE:PHG, AEX: PHI), and Nissin Systems. Larry Weidman, TimeSys' CEO also participated in the round with a personal investment. Funds from these strategic investors and two leading national venture capital firms provide TimeSys with the capital necessary to execute its aggressive product strategy and bring the technology it pioneered into the marketplace. "With a significant round of funding from these strategic investors, we're about to make our revolutionary products more relevant and widely available," said TimeSys CEO Larry Weidman.

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