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| [October 09, 2007] |
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EnQii Raises $10 Million, Acquires Digital View Media
LONDON --(Business Wire)-- London-based EnQii Holdings Ltd. is raising the stakes in the rapidly growing digital out-of-home media sector by announcing its launch with $10 million in venture-capital funding, several significant acquisitions, and offices in London, New York, Hong Kong, Toronto, Dubai and Melbourne.
"With more than 90 corporate clients and lighting up thousands of screens daily, EnQii arrives as a global leader in the use of innovative media, services and technologies for out-of-home digital media markets," said Ajay Chowdhury, who was named Chief Executive Officer of EnQii.
EnQii, a private equity backed company, has been formed specifically to take advantage of the growth in the global digital media network market and has completed three acquisitions to date:
-- Digital View Media, the market leading and global digital media network provider with more than six years of experience and a core software business servicing more than 90 clients across four continents. Its customers include retailers, transport-service providers, health-facility providers, hospitality and leisure services and media businesses.
-- Redeemit, a mobile marketing agency, which provides interactive campaigns and other key marketing services for retailers and brands utilizing personal cell phones.
-- Screen-Edge, A highly-skilled and cost-effective content organization, based in Hong Kong, that provides content creation services for Digital OOH networks.
Digital View Media (DVM) has been a leading provider of services to the global screen media and captive audience networks industry since 1995. Led in North America by Stuart Armstrong, DVM provides solutions for more than 70 corporate clients including Liberty Travel, Dillard's and Mark's Work Wearhouse with a suite of services including consulting, network design, installation, content creation, proven software and hardware technologies and analytics.
"Our vision is to create a true interactive experience for consumers," Mr. Armstrong said, adding: "Unlike traditional media, digital out-of-home media can elicit a response, change a shopper's behavior and effect a transaction. It an also literally be a touch-point that enables consumers to opt into branded communities and pave the way toward lifetime value of that consumer to a brand."
Mr. Armstrong says the only way to realize the full potential of digital out-of-home media is with the seamless integration of strategy, technology, content and metrics. "EnQii is uniquely qualified to do just that, and on a worldwide basis for global brand marketers," Mr. Armstrong said.
EnQii chairman Richard van den Bergh said he sees this as the right time to create a strong and well-financed global organization that will work closely with its clients and partners to create and develop truly high value networks. "The digital out-of-home media market is currently worth more than $1 billion a year and is growing at over 40 percent annually, but remains a fragmented category with no established leaders," he said.
"EnQii fills that void and provides that leadership with a comprehensive and integrated set of capabilities including strategic consulting, interactive technologies, relevant content, and most importantly, the measurement of results achieved," he added. Mr. van den Bergh said EnQii would soon announce several additional acquisitions, further expanding the company's footprint and capabilities on a worldwide basis.
About Ajay Chowdhury
Ajay Chowdhury is a former European President and CEO of NBC Internet (a NASDAQ quoted integrated media company) before which he was CEO of LineOne, a joint venture between United News and Media and British Telecom, which he grew into one of the U.K.'s largest portals and Internet Service Providers.
Mr. Chowdhury joined United News and Media in 1991 and was Founder and Managing Director of United Interactive, its news media division. Before joining United, he was a manager at Bain & Company, a global strategy consulting firm.
About Richard van den Bergh
Richard van den Bergh is the Chairman of Palace Ventures Ltd an FSA authorised investment and corporate finance firm whose joint-venture partner, Ithmaar Bank, is EnQii's ultimate controlling shareholder.
Mr. van den Bergh has over 35 years' business experience spanning a wide range of industries and geographies, especially in the Asia-Pacific region. He started his career with Arthur Andersen in London and Geneva, qualifying as a Fellow of the Institute of Chartered Accountants for England and Wales in 1976.
His subsequent career was with WS Atkins Group, Battelle Institute in Germany and the InterMatrix Group, where he was Managing Director. Following the sale of much of the InterMatrix business in 2000, he joined Hutchison 3G, initially to support the bid process for the UK 3G license. On winning the latter, he was appointed to the Executive Board as Marketing Director.
Until EnQii's acquisition of Digital View Media, Mr. van den Bergh was, for four years, a Non-Executive Director of Digital View Group. In this capacity and through other activities, he has become very familiar with the digital media sector. Richard has a number of Non-Executive Board positions including VS Design Works, Oracle Tanker Chartering and MoVo PLC.
About Stuart Armstrong
Prior to joining Digital View Media, Mr. Armstrong was a Vice President at Euro RSCG Meridian, a leading consulting firm to the consumer goods and retailing industries. Previously, he was a VP of Sales for Gelco Information Network, a leading provider of trade management B2B solutions to the consumer goods industry.
Mr. Armstrong also was President and Founder of Performance Wave, Inc., a Web-based category and promotional management solution. His early career was highlighted with positions at Information Resources, Inc. and as Founder of L.A. Image, one of the first B2B multimedia agencies in the United States.
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