| Shareholders of Kainos, an Irish software company, and Teamware Group have established a joint venture, Meridio Ltd, to internationally sell, market and support Meridio document and content management software. The joint venture has been formed to realize the global potential of Meridio and to meet the needs of the global marketplace.
Developed by Kainos and previously distributed by Teamware, Meridio is a document and content management software that enables organizations to manage documents of all types and formats (including e-mail, faxes, letters and electric files) within one framework.
"The new company will provide Meridio with the best possible environment for growth. It also makes it possible to increase the awareness of the Meridio brand", said Rauno Toivonen, President and CEO of Teamware Group and a member of the Meridio board of Directors. "The arrangement will give Teamware a sharper focus on community solutions and maximize the value of the Meridio business for Teamware in a longer term."
Meridio will be sold with Pl@za
While focusing on its core products, Teamware Pl@za® and Teamware Office", Teamware will market Meridio in Pl@za solutions as their preferred content management application.
"Teamware's aim is to make communities prosper by providing solutions for collaboration and interaction. In addition to community and commerce the well-structured content is one of the key elements of successful portal solutions", Toivonen emphasized.
200 employees and growing
Teamware's Meridio sales team of eight people has transferred to the new company, which will employ total of 200 people.
Frank Graham, Meridio CEO, outlining the new company's objectives, said: "Meridio is already a successful product and is generating sales to major international customers. With the formation of the new company, we have put together a world beating team that will ensure the product achieves its full worldwide potential, and delivers real value to its customers, employees and shareholders."
"We see a substantial growth opportunity in a marketplace which has not been seriously affected by the recent difficulties in the technology industry and is projected to grow by 31 per cent annually to reach $4 billion by 2004," he added.
Other shareholders of the new company are: ACT Venture Capital Ltd, QUBIS, ICL Limited and IDB (Industrial Development Board for Northern Ireland).
About Meridio
Meridio develops and supplies content and document management software to help organizations provide more effective services to their end-customers. Meridio's enterprise-scale content management engine is particularly suitable for underpinning mission critical e-business and e-commerce systems.
Originally the product division of Kainos, a software developer and e-business consultancy based in Belfast, UK, Meridio was spun of as a separate company in July 2001.
Meridio specializes in financial services, telecommunications, utilities and the public. The Meridio product has already won a number of prestigious software awards and is used by major organisations across Europe and Japan, including Scottish and Southern Energy, First Active Bank and Osaka Securities.
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