$3 Million New Venture Financing for Logibro Inc.Business Editors/High-Tech &Travel Writers MONTREAL--(BUSINESS WIRE)--Jan. 28, 2000 MM Venture Partners Provides Financing to Accelerate Montreal Firm's Entry Into the B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business eCommerce Market for Travel and Tour Operators MM Venture Partners is pleased to announce the completion of a $3.0 million venture financing with Logibro Inc. Logibro, an international provider of eCommerce services and IT Solutions for the leisure travel industry, will use the financing to drive key sales and marketing efforts, and further its strategic initiatives. The Company's other strategic investor is the Caisse de Depot's Sofinov group out of Montreal Of Montreal is an American indie pop band formed in Athens, Georgia, fronted by Kevin Barnes. It was among the second wave of groups to emerge from The Elephant 6 Recording Company. . &uot;The online travel industry offers enormous potential,&uot; states MM Venture Partners' Minhas Mohamed. &uot;Logibro is uniquely positioned to leverage its 15 years of experience and relationships to offer an eCommerce service that reduces costs to its existing customers while capturing an entirely new marketplace. Logibro's specific focus on tour operators and distributors provides a profitable and defendable niche that will grow in concert with the rest of the online travel market. These relationships and the Company's technical prowess are extremely difficult to replicate. Our strategic relationships-- particularly in the US--were also a major consideration for the Company, providing an ability to accelerate their business activities.&uot; Richard Brossoit, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Logibro, says, &uot;Logibro is actively engaged in building its strategic alliances and adding more tour operator customers to its eCommerce services. Our Company is currently making significant investments to accelerate the development of its eCommerce services in all of its markets. We are extremely pleased to have MM Venture Partners as a valuable financial partner.&uot; Logibro Inc. is an international company that designs, develops, and markets innovative eCommerce services and IT Business Solutions for the leisure travel industry. Logibro technologies streamline production and distribution processes for vacation packagers and leisure travel suppliers, allowing lower operating costs operating costs npl → gastos mpl operacionales and higher margins, while enhancing vacation value for their customers. The company was founded in 1985 and has offices in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and France. Product and corporate news and information are available on the World Wide Web at www.logibro.com or by calling (514) 931-4433. MM Venture Partners is the General Partner of the $50 million GATX/MM Venture Finance Partnership. This privately held venture capital fund focuses exclusively on public and private technology companies in Canada. MM Venture Partners has focused specifically on a niche in the capital markets by providing venture debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay to Canadian information technology and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. . The fund's limited partner, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden based GATX GATX General American Transportation Corporation Capital Corp., is a global diversified investor. |
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