Bricsnet Merges Constructeo and Strengthens European Operations; Partners with Vinci; Acquisition Results in Positive Cash Inflow.Business/Technology Editors GENT, Belgium and PORTSMOUTH, N.H.--(BUSINESS WIRE)--July 23, 2001 Bricsnet NV (Nasdaq Europe: BSNT BSNT Backward Sequence Number to Transmit (CCS #7 ITU-T) ), the global provider of owner-oriented, integrated software Separate software components or applications that have been combined into one package. See integrated software package. technology solutions, services and information for the process of engineering, construction and operations of commercial buildings, today announced it has signed a definitive agreement under which all shares of Constructeo, the Vinci-backed e-construction venture, will be exchanged for new Bricsnet shares. In addition, Bricsnet has raised <128>10 million in the form of equity and convertible bonds from Vinci and a group of investors including Chrysalead and Mitiska Net Fund Europe. The merger and concurrent financing will enable the two companies to mutually enrich their services and to accelerate commercial deployment in Europe, while expanding on activities initiated by Constructeo. Since inception, backed by Vinci, the world's leading company in construction and associated services, Constructeo has emerged as a leading European e-business company serving the commercial building industry. Its focus on construction collaboration and management and e-commerce, combined with a strong commitment to customer service, has led to the company's project management software deployment Software deployment is all of the activities that make a software system available for use. The general deployment process consists of several interrelated activities with possible transitions between them. on major domestic and European construction projects valued at over 1.5 Billion Euros. "We respect what Constructeo has been able to accomplish as a company," said Erik de Keyser, 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 Bricsnet." They are a natural fit for us since they perfectly complement both our geographic reach and our product and services offering. Further, the deal is structured so that we can reiterate Bricsnet's commitment to return to profitability this year." Vinci has also recently selected the combined entity as its technology provider for project management, facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. and e-commerce. Vinci spokesperson, Pierre Coppey, stated: "We are very pleased to be part of both starting up Constructeo and this new chapter in their corporate development. This is a natural evolution for Constructeo and Bricsnet since their offerings and market success complement each other so well. Our selection of the company as our technology provider and our additional investment further underscores our prospects for the merged company." The Constructeo team will now be merged into the Bricsnet team and will be operating from Paris, France as the company's new commercial hub for Europe, Middle East and Africa. The key developers and account managers will join Bricsnet's R&D and Sales organizations, respectively. Mr. Bertrand Dumazy, Constructeo CEO, has assumed the role of Bricsnet's COO for Europe, Middle East and Africa. Before founding Constructeo, Dumazy was at Bain & Company High Tech consulting groups in Paris and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , and Goldman Sachs's Mergers and Acquisitions group in London. He is a graduate of the Paris Management School (ESCP ESCP Ecole Supérieure de Commerce de Paris ESCP European Society of Clinical Pharmacy ESCP European Society of Coloproctology (Edinburgh, UK) ESCP Erosion and Sediment Control Plan ESCP European Small Claims Procedure ) and holds an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration degree with distinction from Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. . Dumazy states, "I am very delighted with this merger as Bricsnet is not only going to result in continuing what we started here at Constructeo, but further presents new exciting opportunities for the merged companies. Bricsnet is an ideal company to join with from a technical, financial and management perspective. The acquisition allows us to continue to serve our customer base well, while taking our joint business to the next level." The acquisition brings Vinci, a major shareholder of Constructeo, as a shareholder of Bricsnet. Currently, the Bricsnet Board includes six Board Members. There is one open position for an Independent Director. Two additional positions will be offered to representatives of the selling shareholders of Constructeo. More information is available at www.bricsnet.com/about/investors/ About Vinci With a presence in more than one hundred countries, Vinci is the world's leading company in construction and associated services, operating through its 2,500 local business units, for the most part in Europe, where it does more than 90% of its business. Vinci has a workforce of 115,000. Sales in 2000 are in excess of 17 Billion Euros, with net income of 400 Million Euros. Vinci, which has recently merged with GTM See Good-this-Month order. , is the world's largest international contractor. About Constructeo Based in Paris, Constructeo is a leading provider of project management and e-commerce tools for the construction industry. Its current shareholders are Vinci, the world's leading company in construction and associated services, the founding managers, Masai, a French procurement consultancy, and Coteba, a leading French design office. Key clients include Vinci Group, Caisse des Depots (Tertial ter·tial adj. Of, relating to, or designating the third row of flight feathers on the basal section of a bird's wing. n. A tertial feather. ), SARI Sari (särē`), city (1991 pop. 167,602), capital of Mazandaran prov., N Iran, near the Caspian Sea. It is the trade center for a farm region where citrus fruit, cotton, rice, and sugarcane are grown. Developpement and Renault. About Bricsnet Bricsnet (Nasdaq Europe: BSNT) is the global provider of owner-oriented, integrated software technology, services and information for the process of engineering, construction and operations of commercial buildings. Bricsnet's offerings provide its customers with an integrated platform to manage existing buildings, design new buildings or upgrade existing ones, manage geographically dispersed property and project teams, access building product specifications from manufacturers and bid on and procure building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . and services. Bricsnet maintains corporate headquarters in Portsmouth, N.H. and Gent, Belgium. The BricsnetWire automatically delivers via e-mail news releases such as this as they are being issued. To subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; the BricsnetWire, visit www.bricsnet.com |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion