Commtouch Successfully Closes Previously Announced Private Placement
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MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--July 12, 2004--Commtouch (Nasdaq:CTCHC), the innovator of anti-spam solutions featuring Recurrent Pattern Detection (RPD)(TM) technology, was pleased to announce that after achieving all closing conditions relating to the previously announced private placement of May 18, 2004, it successfully closed the private placement and received $3.9 million dollars from the participating investors.
-- 98.17% - Steep Reduction in the Number of Spammer Websites Hosted in China MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aug. 3, -Commtouch Software Ltd. ( CTCHC) Commtouch(R) ( CTCHC), spam solutions featuring Recurrent Pattern Detection (RPD) (TM) technology, announced today that the Commtouch Spam Detection Center analyzed hundreds of millions of spam messages in the month of July 2004 and found that 88.42% were of new origin and 98.17% of the URLs advertised in spam messages were new compared to the previous month. Those numbers indicate that 88.42% of the IP addresses used to send spam messages were new in the month of July.
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The company anticipates that, with the receipt of the $3.9 million funding and filing today of a Form 6-K with the SEC reflecting the change in shareholders' equity as a result of this financing, it will meet the first criterion for continued Nasdaq listing on The SmallCap Market, as detailed in the company's press release of June 29, 2004.
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"We view the closing of this round, along with the continued growth of our anti-spam business during the second quarter, as further validation of our go-to-market strategy," noted Gideon Mantel, CEO of Commtouch. "We will dedicate a portion of this funding to enhancing marketing and sales efforts in our push towards capturing greater market share."
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The company also announced that, as of today's date, it has 42,494,607 ordinary shares outstanding.
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About Commtouch
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Commtouch Software Ltd. is a global developer and provider of proprietary anti-spam solutions featuring Recurrent Pattern Detection (RPD) technology. Its mission is to protect and preserve the integrity of the world's most important communications tool -- email. The company's core technologies reflect its 13 years of experience as a leading vendor of email software applications and provider of global messaging services. Commtouch's patent-pending technologies are employed in solutions that are sold through channels and resellers. In addition, Commtouch anti-spam technologies are incorporated in software applications of security and messaging OEMs. Commtouch is headquartered in Netanya, Israel and its subsidiary, Commtouch Inc., is based in Mountain View, CA. The company was founded in 1991 and has been publicly traded since 1999 (Nasdaq:CTCHC - News). To learn more about Commtouch visit www.commtouch.com.
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Recurrent Pattern Detection and RPD are trademarks and Commtouch is a registered trademark of Commtouch Software Ltd.
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This press release contains forward-looking statements, including projections about our business and continued listing with Nasdaq, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, and statements including words such as "expect", "plan", "estimate", anticipate", or "believe" are forward-looking statements. These statements are based on information available to us at the time of the release; we assume no obligation to update any of them. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including a determination by Nasdaq of an insufficient Form 6-K filing and resultant inability to meet the Nasdaq's first criterion for continued listing on The SmallCap Market, business conditions and growth or deterioration in the Internet market, commerce and the general economy both domestic as well as international; fewer than expected new-partner relationships; competitive factors including pricing pressures; technological developments, and products offered by competitors; availability of qualified staff for expansion; and technological difficulties and resource constraints encountered in developing new products as well as those risks described in the company's Annual Reports on Form 20-F and reports on Form 6-K, which are available through www.sec.gov.
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Contacts
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Commtouch
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Gary Davis, 650-864-2000
media@commtouch.com
