18.12.2006 – 23:33
Nstein Technologies Acquires Eurocortex, a Leading Web Content Management Software Provider
- A Strong Value-Added Integration Reinforcing the Software Offering for European Press and Media Organizations
- Nstein acquires European-based Eurocortex and becomes leading provider of semantic-driven asset and web content management solutions for the publishing, media and entertainment industries
- Eurocortex's portfolio of 30+ major European publishers-including Agence France Presse, the Hachette group and Le Monde group-and Nstein's client roster-featuring Getty Images, ProQuest, VNU eMedia and Transcontinental Media-combine to create an unbeatable publishing industry portfolio
- Eurocortex's President, Bruno Génuit, to helm Nstein's European operations as General Manager and Eurocortex founder, Jean-Michel Texier, to lead Nstein's NCM Product Management as VP Product Evolution
- Transaction valued at $1.4 million CAD - a combination of $0.5 million CAD in cash and issuance of 1,013,152 common shares of Nstein at a price of $0.85 CAD per share to Eurocortex shareholders
Nstein Technologies Inc. (TSX-V: EIN) today announced that it has acquired Eurocortex, a leader in content management solutions for the publishing, media and entertainment industries. Eurocortex's comprehensive platform for asset and web content management enables publishers to better manage their digital assets and streamline their web publishing processes. Nstein's award-wining text mining software and Eurocortex's CMS platform now constitute a fully integrated solution for the publishing and media industries called Ntelligent Content Management (NCM) Suite. The solution is already being deployed by leading Canadian publisher Transcontinental Media in the re-engineering of its numerous information portals.
Mario Girard, Chairman and Chief Executive Officer of Nstein Technologies, declared: "Eurocortex is the perfect complement to Nstein's solutions. Together, both technologies fully answer publishers' critical need to migrate their content to web platforms and increase their online advertising revenue streams. Thanks to our new cutting-edge solution and both companies' outstanding track records in the publishing industry, Nstein is poised to gain significant market share and consolidate its leadership in the digital asset management and web content management sector."
Bruno Génuit, President and General Manager of Eurocortex, added: "This agreement propels our technology into an exciting new chapter and brings tremendous benefits to our actual customer base. In addition to being able to continue to take advantage of Eurocortex's core expertise in content management, our clients can now enjoy access to Nstein's advanced text mining and semantic search technologies. As a member of the Nstein group, we're uniquely positioned to help global and regional publishing organizations shift from a paper-centric business model to a dynamic digital strategy."
As part of its integration scheme, Nstein will be welcoming Jean-Michel Texier, founder of Eurocortex, to its team as VP Product Evolution. Texier brings to the table his extensive knowledge of the content management market and the media and publishing industries.
Under the terms of this arm's-length transaction, Nstein has acquired all of the outstanding common shares of Eurocortex in exchange for $0.5 million CAD in cash and 1,013,152 newly issued shares at a price of $0.85 CAD per unit, for a total value of $1.4 million CAD. A portion of the shares issued is subject to a 24-month voluntary escrow agreement.
About Ntelligent Content Management Suite (NCM)
NCM Suite enables the management, enrichment, publication and monetization of digital content using a series of powerful semantic analysis tools. In addition to significantly reducing operational costs, NCM enables publishers to increase their online revenue streams by ensuring maximum cross media use of their digital assets. The NCM Suite leverages cutting-edge Web 2.0 publishing channels such as RSS newsfeeds as well as community-building tools such as blogs, forums, surveys and commenting features to ensure website stickiness and strong brand management strategies.
Eurocortex (www.eurocortex.fr) is based in Toulouse, France, and specializes in designing software for content management and automated website generation. The company strives to manage websites in an autonomous, sustainable and economical way. Eurocortex's flagship product, Intelligent Content Manager (ICM), is a powerful suite made up of independent modules that, combined together, optimize the document production line as well as document publishing processes. Eurocortex enjoys a large customer base in France and has a very strong presence within the publishing industry. Eurocortex's most recent customers include Le Monde group, Hachette, Bayard Presse, the French press agency AFP, Radio France, Le Point, the Moniteur group and Afnor.
About Nstein Technologies
Nstein Technologies (TSX-V:EIN) develops and markets leading-edge software solutions for analyzing vast amounts of unstructured data in virtually any language. Nstein's text mining and information access solutions transform reactive decision-making into a high-impact proactive and even predictive process. The Company is headquartered in Montreal, Canada, with offices in the United States and Europe. More information is available at www.nstein.com.
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