PINDAR SYSTEMS RECEIVES NEW ROUND OF FINANCING
Funds will support launch of new catalog commerce technology and
international expansion
CHICAGO, USA and YORK, UK, Dec. 17, 2001 Pindar Systems, the leader in
catalog commerce technology, today announced the completion of its second
round of financing totaling $3.5 million. Existing investors Granville Baird
Capital Partners and The Pindar Group participated in the second round.
The new financing brings the total capital raised by the company to $11.5
million since its launch earlier this year as an independent entity.
Pindar Systems provides software that enables leading retail, distribution
and manufacturing companies to aggregate, manage and publish product
information and catalogs to print and Web. The company, originally part of
The Pindar Group, became an independent entity earlier this year and counts
among its customers W.W. Grainger, Office Depot, Spiegel, VWR Scientific,
Rexel and Eddie Bauer. The new round of funding will allow the company to
introduce a new technology platform and extend its marketing and sales
efforts globally.
"This funding will support our growth as we continue to add the resources
needed to fully realize our market potential," said Paul OıSullivan, Chief
Executive Officer of Pindar Systems. "Because Pindar Systems has invested
heavily in research and development during the past year, we are poised to
extend our lead over our rivals and add distribution in additional
geographic regions."
According to Paul Merone of Granville Baird Capital Partners, "Pindar
Systems has worked hard to achieve its position as the market leader. It
offers the most scalable catalog commerce technology platform, enabling
businesses of any size to improve collaboration with their supply chain
partners and reduce cycle times for Web and print catalogs and promotions.
All of this adds up to increased sales and improved market position for
Pindar Systemsı customers."
Over the past year, Pindar Systems has added a dozen new B2B and B2C
corporate customers in the UK, U.S. and France; created a close-knit network
of reseller agents in continental Europe; entered into strategic alliances
with consumer goods supply chain and B2B e-procurement systems developers;
and introduced major enhancements to its core Catalog Management System
(CMS) to better serve large retailers, streamline the catalog production
process and provide a flexible XML-based path for online product information
migration. In addition, Pindar Systems recently launched an affordable
catalog management system for growing companies.
The Pindar Group, investors in both the initial and new financing rounds,
brings to Pindar Systems a successful track record in growing businesses.
According to Group Chairman Andrew Pindar, ³Because of their deep
understanding of the needs of catalog-centric businesses, Pindar Systems has
built an enviable position as the industry leader and has acquired an
impressive list of blue-chip customers. We are pleased to extend our
financial support and ongoing investment in the business.²
With the planned introduction of a new Internet-based technology platform
featuring XML content gateways, Pindar Systems is poised to extend its reach
in the catalog commerce marketplace with support for both Web and print
media communication channels.
About Pindar Systems
Pindar Systems is defining catalog commerce, the ability to manage and
deliver product information to drive sales. The companyıs robust catalog
commerce technology enables businesses, including distributors, retailers
and manufacturers, to focus on effective marketing rather than the mechanics
of the complex production process. Pindar customers are able to aggregate
product, business and media content from many different sources into a rich
product knowledge database. Pindarıs software presents a unified view of
this information, giving merchandisers the ability to create targeted offers
that are delivered across print and Web with significantly greater
flexibility, precision and speed.
Pindar Systems is the recognized leader in catalog commerce. Clients include
W.W. Grainger, Office Depot, Spiegel, Rexel, and Eddie Bauer. Privately
held, Pindar Systems operates globally from European headquarters in York,
UK and North American headquarters in Chicago, USA.
About Granville Baird Capital Partners
Granville Baird Capital Partners is the European private equity operation of
the Robert W. Baird Group. Baird, founded in 1919, is an international
wealth management, investment banking and asset management firm. Granville,
originally launched in 1971 as a specialist investment boutique, was
integrated as the Groupıs European operation in 1999. The Group is backed by
the financial resources of AAA-rated majority shareholder Northwestern
Mutual, a business with assets that exceed $78 billion. Granville Baird
Capital Partners is a formidable business in its own right. As an autonomous
part of an integrated whole, it has close to 1 billion Euros in funds under
management. The firm has offices in the UK, Germany and Spain.
About The Pindar Group
Pindar Group is one of the leading print and electronic media companies in
Europe, specializing in producing high-quality business communications
through print and electronic media at its 12 UK sites. The company is at the
technological forefront for the production of publications such as marketing
and corporate literature, directories, catalogs, annual reports, examination
papers and transport timetables, through to electronic newsletters, Internet
sites and CD-ROM presentations. The acquisition during the 1980s of the
AlphaGraphics master license for the UK and Ireland added a network of
rapid-response business-to-business print services throughout the UK (20 to
date) and provided a link to 330 stores in 23 other countries throughout the
world. Pindar has since become the major shareholder of this US-based
franchise operation.
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FOR IMMEDIATE RELEASE
CONTACT: Doug Curran
Manager, Corporate Communications
Pindar Systems
+(781) 862-0034
doug.curran@pindarsystems.com
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