CosmoCom To Get $15.3M Investment

Dow Jones News Service via Dow Jones

By Stephanie N. Mehta

HAUPPAUGE, N.Y. (Dow Jones)--Investors led by Science Applications International Corp. (X.SAP) are expected to announce Tuesday that they will invest about $15.3 million in CosmoCom Inc., a closely held developer of technology for Internet customer-care centers.

The proceeds of the mezzanine financing round will fund CosmoCom's growth insales, marketing and development. CosmoCom's flagship product enables a new generation of electronic businesses to interact with customers "real time" via Internet chat or using voice-over-Internet technology.

Science Applications International, or SAIC, is the largest employee-owned research and engineering company. Based in San Diego, the company is parent of telecommunications research powerhouse Telcordia Technologies, formerly Bellcore.

SAIC earlier this year agreed to resell CosmoCom technology through its system-integration activities.

Other previous investors in CosmoCom also participated in the $15 million round of financing.

- Stephanie N. Mehta; 212-416-2502