NuTech Solutions to Acquire BiosGroup's Software Development Operations.Business Editors/High-Tech Writers CHARLOTTE, N.C.--(BUSINESS WIRE)--Feb. 20, 2003 NuTech Solutions, Inc., a 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 Free and Open Source software
The acquisition will be accounted for as an asset purchase. Founded in 1996 by Dr. Stuart Kauffman Stuart Alan Kauffman (born September 28, 1939) is a theoretical biologist and complex systems researcher, who has given much thought to the origin of life on Earth. He is best known for arguing that the complexity of biological systems and organisms might result as much from 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 built a client list of over 50 major corporations, including Air Liquide
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 This article is about the American airline. For the former Japanese airline, see Japan Transocean Air. For the British airline, see Air Southwest. Southwest Airlines Co. , SAP, Societe Generale, Texas Instruments, Unilever, and the United States Department of Defense. By joining NuTech Solutions' leadership position in predictive analytic and profit optimization software with BiosGroup's leadership position in combining advanced agent-based simulations with novel optimization techniques, NuTech Solutions expects that it will be better positioned to respond to the growing demand for advanced prediction, simulation, and optimization solutions that help businesses make faster and more profitable decisions. "With this acquisition we have an exciting opportunity to bring together the best minds in predictive analytics, simulation and modeling, and optimization to better leverage and deliver leading-edge technologies, products, and services to our growing client base," said Matthew Michalewicz, Chief Executive Officer of NuTech Solutions. "We believe these synergies and our complementary product lines make this a powerful and timely proposition, and position us for sustained long-term growth." "NuTech Solutions and BiosGroup share a common strategic vision for the growth of the analytics and optimization technology marketplace," said Vince Hockett, Chief Executive Officer of BiosGroup. "We expect that our combined intellectual assets and services will create a strong platform to expand the number of clients using these powerful solutions and provide a broader set of solutions to our existing customers." Under the terms of the Definitive Agreement, BiosGroup founder Dr. Stuart Kauffman, and BiosGroup Chairman Robert MacDonald, will join NuTech Solutions' Board of Directors, and NuTech looks forward to many BiosGroup employees joining them to provide a seamless transition for all clients. Financial advisor McColl Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , represents NuTech Solutions in this transaction. McColl Partners, as well as McColl Partners' Founder and Chairman Hugh McColl, are equity investors in NuTech Solutions, Inc. 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 are designed to 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, 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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