NuTech Solutions Completes BiosGroup Acquisition; Stuart Kauffman and Robert MacDonald Join NuTech Solutions' Board of Directors.Business Editors/High-Tech Writers CHARLOTTE, N.C.--(BUSINESS WIRE)--Feb. 27, 2003 NuTech Solutions, Inc., a leading provider of advanced predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. and profit optimization software products for Global 1000 companies, announced today that it has completed the acquisition of the software development and consulting operations of privately-held BiosGroup, Inc. The acquisition was accounted for as an asset purchase, and financial advisor McColl Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control represented NuTech Solutions in the transaction. McColl Partners, as well as McColl Partners' Founder and Chairman Hugh McColl, are both equity investors in NuTech Solutions. Founded in 1996 by Dr. Stuart Kauffman and the Center for Business Innovation of Ernst & Young, BiosGroup is the world leader in applying the science of complexity and complex adaptive systems to the simulation, modeling, and solving of difficult problems for government organizations and Global 1000 corporations. Since 1996, BiosGroup has raised more than $20 million in venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends from Ernst & Young, Procter & Gamble Company, and Ford Motor Company; and has build a client list of over 50 major corporations, including Air Liquide, Boeing, the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. , Southwest Airlines, SAP, Societe Generale, Texas Instruments, Unilever, and the United States Department of Defense. BiosGroup founder Dr. Stuart Kauffman, and BiosGroup Chairman Robert MacDonald, have also joined NuTech Solutions' board of directors. A leading theorist in complexity science since the early 1980's, Dr. Kauffman was a founding scientist of the Santa Fe Institute The Santa Fe Institute (SFI) is a non-profit research institute dedicated to the study of complex systems in Santa Fe, New Mexico. Overview The Santa Fe Institute was founded in 1984 by George Cowan, David Pines, Stirling Colgate, Murray Gell-Mann, Nick Metropolis, Herb and a consultant to Los Alamos National Laboratory Los Alamos National Laboratory (LANL) (previously known at various times as Site Y, Los Alamos Laboratory, and Los Alamos Scientific Laboratory) is a United States Department of Energy (DOE) national laboratory, managed and operated by Los Alamos National , where significant early work on "chaos theory chaos theory, in mathematics, physics, and other fields, a set of ideas that attempts to reveal structure in aperiodic, unpredictable dynamic systems such as cloud formation or the fluctuation of biological populations. " was conducted. Dr. Kauffman is also a MacArthur Fellow and an external professor at the Santa Fe Institute. He is also the author of several highly regarded books on complexity science, including "At Home in the Universe" and "Investigations." "The science of complexity and complex adaptive systems is having a positive impact on business and government. The combination of BiosGroup and NuTech Solutions will accelerate the commercialization of the science and will result in more products that use the science to solve problems facing decision makers," said Stuart Kauffman. Robert MacDonald is the retired 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 BiosGroup. Previously, MacDonald was President of four other venture-backed companies, including Lifeline Systems, Inc, a medical electronics firm that he took public in 1984, and Level 8 Systems, Inc., a messaging software company that he took public in 1995. He was also a General Partner at two national venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] , Idanta Partners and Plant Resources Venture Funds, and has served on the Boards of Directors of more than 25 early stage companies. "I am especially pleased with this acquisition. BiosGroup has been rich in the technology of agent-based modeling and simulation solutions that fits in well with NuTech Solutions' predictive analytic and profit optimization software. We are going to be part of a very interesting company," said Robert MacDonald. About NuTech Solutions, Inc. NuTech Solutions, Inc. provides predictive analytics and profit optimization software products for Global 1000 companies in the financial services, manufacturing, and retail industry, as well as for government organizations. Based in Charlotte, N.C. and with offices around the world, NuTech Solutions' products produce measurable increases in financial performance for its users. The company's client roster includes General Motors, Ford Motor Company, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Siemens, BB&T, ChevronTexaco, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Beiersdorf, U.S. Department of Defense, Honda, Air Liquide, Southwest Airlines, Proctor and Gamble, Boeing, Dupont, Safeway, Corning, Polish National Air Force, FujiTec, Wells Fargo, and Unilever. Forward-looking (safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. ) statement Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. |
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