| November
9, 2000 — New
York, NY, USA —
IBM has entered into an agreement to sell its
information services extended directory assistance
solution to a company newly-formed by Spencer
Trask Intellectual Capital Company LLC, a leading
private equity firm. IBM will retain an equity
interest in the new company. The new company,
named Information Services Extended, Inc. (ISx),
will feature a suite of telecommunications
applications and products that support accurate
delivery of directory listings and other information
services by operators, voice over IP and new wireless
devices.
The acquisition of the IBM information services
extended directory assistance solution will allow
ISx to focus more exclusively on the needs
of the rapidly growing directory assistance market.
ISx plans to maintain a close relationship
with IBM. ISx will be an IBM business partner,
and will continue to work with the IBM worldwide
sales teams and provide services to customers
through IBM Global Services. IBM will be represented
on the Board of Directors of the new company.
"ISx plans to offer a host of innovative
new services to better serve the needs of our
customers," said Mike Hill, General Manager
of IBM's Global Telecommunications Sector and
a member of the Board of Directors of ISx.
"We envision ISx becoming the engine
that enables customers to deliver information
anytime, anywhere.”
ISx is well poised to be a leader in the
burgeoning telecommunications services market.
With the addition of the information services
extended directory assistance assets, the new
company will have over 20 years of experience
as a market leader in providing operator service
solutions, and a strong record of technological
and service excellence in North and South America,
Europe, Asia and Australia.
ISx plans to expand functionality in its
core market areas by developing enhanced information
services to wireline and wireless customers and
to enable non-traditional, untethered information.
Spencer Trask will utilize its vast experience
in the telecommunications and technology arenas
to assist ISx in aggressively marketing
and expanding its services.
"We see an enormous opportunity to address
the world's exploding mobile commerce market,"
said Tom McClain, Chairman of ISx and a
partner with Spencer Trask Intellectual Capital
Company, LLC. "We believe ISx will
have the leading platform to deliver relevant,
timely and accurate content."
Contact:
For more information
about Spencer Trask contact Eric Paul at:
800-622-7078 x 326
For more information about ISx contact Barbara
Shoemaker at:
954-928-4780.
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