Our portfolio company @Last Software just announced this exciting news to its customers in its SketchUpdate newsletter. At this time, we are not in a position to say anything beyond what @Last has shared in the newsletter, which we excerpt below. We are proud of all that the SketchUp Team from @Last has accomplished in a relatively short time. @Last proves that the American entrepreneurial dream is alive and well - two guys starting with just a big dream can indeed make it happen. With the first version of SketchUp launched in 2000, the @Last founders’ dream was already an emerging reality by the time that Borealis co-led an investment round in 2004. Since then, it’s been an exciting ride, and a privilege, to work with the @Last team in creating wonderful new opportunities to open the world of 3D to everyone. Please join us in congratulating the team on @Last’s accomplishments and wishing them continued success as they now take their dream onto the global stage.

We hope you enjoy the SketchUpdate. The newsletter has been an important avenue for conversation between the Company and its customers over the years and reflects the strong sense of community that @Last has always cared about so deeply.

The Borealis Team

***Excerpt from SketchUpdate (3.10.06) ***

WHAT'S NEW

Well, about the biggest thing ever: we’ve been Googled! That’s right, Google Inc. has acquired @Last Software…so you might have just spit your coffee all over your keyboard, or you’re rolling your eyes thinking this is another one of my April Fool’s jokes. Believe me, we’re still having a hard time believing it ourselves, but it’s real—we are now Google!

HOW DID THIS HAPPEN? WHY DID THIS HAPPEN?!!

Here’s the story. We got to know a bunch of Googlers while we were building the Google Earth Plugin for SketchUp, and it quickly became apparent that we could really stir things up together. At first, it was kind of hard to imagine; after all, we’d been blazing our own trail for so long. But after we kicked it around awhile, it started to seem right. One thing led to another, and here we are. This is one of those wonderful win-win situations; it would have been impossible for us to feel good about this acquisition if we didn’t feel our culture, our users and our mission would be in good hands.

(If you've never seen it, Google Earth lets you explore the world from your desktop and it’s free! Remember those flying dreams you had as a kid? This is it…only without the flannel pajamas; mine had those built in feet. Just type in where you want to go and this thing will fly you directly over the spot!)

The big idea is that a huge community of SketchUp users will help build and populate a digital world with 3D everything: buildings, bridges, parks, stadiums, trees, birds and bees. Google’s resources will allow us to serve our current users better, and Google’s reach will allow us to expose more people to SketchUp in one year than we could have touched in ten years on our own. "3D for Everyone" is becoming a reality; we're bringing the “3D” part; Google's contributing the “Everyone.”...

Register today for Peak Pitch '06: Sunday River- the final event in the three-part series. Peak Pitch is a fun event that gives entrepreneurs and investors a chance to network on the slopes- no powerpoints, just skis, poles and a great pitch. The success of Peak Pitch ‘05 in linking Northern New England’s distinctive natural assets with its entrepreneurial culture and business community has motivated Peak Pitch founder and series organizer Borealis Ventures to expand the program for 2006.

Peak Pitch brings entrepreneurs and investors together for a uniquely Northern New England version of the classic "elevator pitch." In the traditional elevator pitch, entrepreneurs take advantage of an unexpected opportunity to share an elevator ride with a potential investor and present their business idea. At Peak Pitch, a shared chairlift is substituted for the elevator, giving entrepreneurs the opportunity to pitch their business plans to a variety of venture capitalists, angel investors, commercial lenders, and other entrepreneurial advisors as they ride together up a mountain on a high-speed chair lift.

To learn more about the Peak Pitch 2006 series or to register to participate, please visit our website: www.peakpitch.co m.