Searchspace Receives $13 Million in Development Capital

Apr 23, 2001, 01:00 ET from Searchspace

    NEW YORK, April 23 /PRNewswire Interactive News Release/ -- Searchspace
 today announced that it has received a $13 million investment from two groups
 in Europe to further company expansion.  HSBC Private Equity invested
 $7 million and Friends Ivory & Sime Private Equity provided $6 million.
     Searchspace takes artificial intelligence to the heart of modern business
 with its Intelligent Enterprise Framework(TM) (IEF).  This provides a first
 generation electronic workforce in which systems take an active part in the
 running of an organization. Searchspace is seen as a pioneer of this
 technology and the company's current customers include The Bank of New York,
 London Stock Exchange, Royal Bank of Scotland, Archipelago Securities
 Exchange, Lloyds of London, Bank of Scotland and other leading organizations.
     Konrad Feldman, CEO of Searchspace said, "This is extremely good news and
 once more demonstrates the importance of the products we are producing.  We
 believe Searchspace is offering some of the most exciting software that exists
 anywhere with the ability to make an enormous impact on businesses -- this
 includes reducing costs, improving efficiencies, controlling risks and driving
 returns."
 
     About Searchspace
     Searchspace, the intelligent enterprise systems company, enables leading
 organizations to realize the vision of the 'Intelligent Enterprise.'
 Searchspace solutions provide a new technology infrastructure for addressing
 core operational issues: managing risk, ensuring compliance, identifying
 opportunity and increasing efficiency. Through the automation of key business
 decision processes, our solutions deliver significant continual value,
 fundamentally changing the way in which our customers understand their
 businesses and drive key operational processes.
     Searchspace is headquartered in London, England with offices in New York,
 NY and Frankfurt, Germany. More information can be found at
 http://www.searchspace.com.
 
     About HSBC Private Equity
     HSBC Private Equity has external and internal funds under management of
 over $1.4 billion. It has a European network of offices in London, Manchester,
 Paris, Dusseldorf and Stockholm. HSBC Private Equity invests in businesses
 across a broad range of sectors.
 
     About Friends Ivory & Sime Private Equity
     Friends Ivory & Sime Private Equity applies a research-led sector focused
 approach to investment in unquoted companies across Europe.  Core areas of
 investment are technology and related support services, media and
 communications, business services, healthcare, and consumer markets.
 Investments between $3 million and $29 million are made in companies at all
 stages excluding start-ups.
 
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          Click Here http://tbutton.prnewswire.com/prn/11690X26736554
 
 

SOURCE Searchspace
    NEW YORK, April 23 /PRNewswire Interactive News Release/ -- Searchspace
 today announced that it has received a $13 million investment from two groups
 in Europe to further company expansion.  HSBC Private Equity invested
 $7 million and Friends Ivory & Sime Private Equity provided $6 million.
     Searchspace takes artificial intelligence to the heart of modern business
 with its Intelligent Enterprise Framework(TM) (IEF).  This provides a first
 generation electronic workforce in which systems take an active part in the
 running of an organization. Searchspace is seen as a pioneer of this
 technology and the company's current customers include The Bank of New York,
 London Stock Exchange, Royal Bank of Scotland, Archipelago Securities
 Exchange, Lloyds of London, Bank of Scotland and other leading organizations.
     Konrad Feldman, CEO of Searchspace said, "This is extremely good news and
 once more demonstrates the importance of the products we are producing.  We
 believe Searchspace is offering some of the most exciting software that exists
 anywhere with the ability to make an enormous impact on businesses -- this
 includes reducing costs, improving efficiencies, controlling risks and driving
 returns."
 
     About Searchspace
     Searchspace, the intelligent enterprise systems company, enables leading
 organizations to realize the vision of the 'Intelligent Enterprise.'
 Searchspace solutions provide a new technology infrastructure for addressing
 core operational issues: managing risk, ensuring compliance, identifying
 opportunity and increasing efficiency. Through the automation of key business
 decision processes, our solutions deliver significant continual value,
 fundamentally changing the way in which our customers understand their
 businesses and drive key operational processes.
     Searchspace is headquartered in London, England with offices in New York,
 NY and Frankfurt, Germany. More information can be found at
 http://www.searchspace.com.
 
     About HSBC Private Equity
     HSBC Private Equity has external and internal funds under management of
 over $1.4 billion. It has a European network of offices in London, Manchester,
 Paris, Dusseldorf and Stockholm. HSBC Private Equity invests in businesses
 across a broad range of sectors.
 
     About Friends Ivory & Sime Private Equity
     Friends Ivory & Sime Private Equity applies a research-led sector focused
 approach to investment in unquoted companies across Europe.  Core areas of
 investment are technology and related support services, media and
 communications, business services, healthcare, and consumer markets.
 Investments between $3 million and $29 million are made in companies at all
 stages excluding start-ups.
 
                           MAKE YOUR OPINION COUNT --
          Click Here http://tbutton.prnewswire.com/prn/11690X26736554
 
 SOURCE  Searchspace