Electronic commerce company gets $100 mil in financing

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AppNet Systems, an electronic commerce company in Ann Arbor, Mich., said it had a $100 million commitment in venture capital funding from Chicago-based GTCR Golder Rauner. AppNet, which purchased Arbor Intelligent Systems in March, said it plans to use the money to develop the companies' service offerings: e-commerce consulting and systems integration, Internet-enabled application development and e-commerce processing.

Copyright August 1998, Crain Communications Inc.

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