Online trading firm E*Trade has made a strategic investment in Digital Island, the Honolulu, Hawaii-based company which calls itself a global applications network. The investment is part of a new round of funding which has raised $10.5m for Digital Island. That money is earmarked for the development of new products and services for vertical industries, including financial services, publishing, software distribution, customer support and IP telephony. All these new products are built to run on the company’s network. Digital Island also plans to invest in its partner program, whereby ISPs and systems integrators resell the company’s services. E*Trade president and CEO Christos Cotsakos has taken a seat on Digital Island’s board. á
