Sent: Friday, May 21, 1999 11:28 AM From: Jennifer Nicol jln@quadstone.com Subject: Quadstone Receives $10 Million Investment Package Edinburgh-based software house, Quadstone Limited this week unveils the details of a $10 (£6.3) million investment package from a consortium led by international venture capital investors 3i plc. The consortium includes British Linen Equity, Aberdeen Asset Managers and Scottish Development Finance, which is providing funds through the Scottish Equity Partnership. All the capital invested will be used for ordinary share capital (equity) and represents a very substantial resource for Quadstone to globalise its Customer Behaviour Modelling products and services. Used primarily to fund a major expansion of its activities in Europe and the US, the deal leaves Quadstone valued at around $35 million and places it in the premier tier of independent software companies. The new investment will see staff levels grow by more than 100% in the coming two years with 25 new staff in the United States, 15 new staff in London and an additional 12 staff in Edinburgh planned by the end of Quadstone's current financial year. The package will also allow the company to more than double its marketing activities. For further information, pictures, see http://www.quadstone.com
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