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Forstmann Little invests $65 million in Intelisys

Published on .

New York--Investment banking firm Forstmann Little & Co. is investing $65 million in Intelisys Electronic Commerce L.L.C., a New York-based global provider of Web-based b-to-b procurement packages. The investment gives Forstmann Little a one-third voting interest in Intelisys, which provides e-procurement services to companies including Chase Manhattan Bank, New York. The investment will be used to allow Intelisys to expand marketing efforts, pursue acquisitions and enhance its software development capabilities. It will also be used to help bankroll Intelisys' planned small-business portal.
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