Stonepath Group Expands Into Europe; Seasoned Technology Veterans to Head New European Venture in Sweden.Business Editors 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 , CA--(BUSINESS WIRE)--Oct. 18, 2000 Stonepath Group (AMEX AMEX See: American Stock Exchange : STG stg abbr (= sterling) → ester ) today announced that it has opened its new European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. subsidiary, Stonepath Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , in Stockholm Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden, to
finance and build companies that develop mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. enabling
technologies, infrastructure technologies, interactive software
solutions and e-business applications. The new company is headed by
Svante Carlsson, former Professor of Computer Science and Vice Rector RECTOR, Eccl. law. One who rules or governs a name given to certain officers of the Roman church. Dict. Canonique, h.v. at
Blekinge University of Technology, a leading IT university in Sweden,
and founder of Effnet (listed on Stockholm's `New Market'), a
company that licenses performance-enabling IP processing technology.
Stonepath Europe also will provide strategic consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.)service - work done by one person or group that benefits another; "budget separately for goods and services" for Stonepath Group's current partner companies and future consulting clients. "Establishing a presence in Europe is a significant development for our company and places Stonepath in one of the world's most innovative wireless and e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. centers," said Andrew Panzo, Chairman and Chief Executive Officer of Stonepath Group. "Stonepath Europe, which is led by some of Europe's top technology authorities, improves the ability of our current and potential clients to create and deliver more effective technology solutions." Said Dr. Carlsson, "Our group's extensive technology expertise, combined with Stonepath's established U.S. network, provides European entrepreneurs with a competitive advantage. Establishing Stonepath Europe in the heart of Wireless Valley gives us an excellent platform to expand further in Europe." New members of the Stonepath Europe executive team include: -- Dr. Svante Carlsson (CEO), a founder of Stonepath Europe, will head the new European venture. He is a former Professor of Computer Science at Karlskrona University, the leading IT university in Sweden, and founder of Effnet (listed on Stockholm's `New Market'). -- Mr. Jan Larsson (COO, EVP), one of the founders of Stonepath Europe, will be responsible for business development and operations. Mr. Larsson has many years of IT experience, including management positions with Tieto/Enator, WM-data and Siemens. -- Mr. Jere Dumanic (EVP, Corporate and Strategic Development), one of the founders of Stonepath Europe, will be primarily responsible for corporate and strategic development of the new European venture. Mr. Dumanic gained extensive investment banking and venture capital experience from Stonepath Group - US, Solomon Smith Barney and American Maple Leaf Financial. -- Mr. Leif Eriksson (VP, Business Development) has significant experience as a consultant within the IT industry and is one of the founders of WM-data's e-business division. -- Mr. Lars Olbert (VP, Corporate Development) was with MeritaNordbanken Corporate Finance, where he was responsible for private placements for small to medium-sized companies. Previously he has been Portfolio Manger at Trygg-Hansa/SEB and Chief Analyst at Servisen Fondkomission. -- Mr. Mats Mattila (Controller) has extensive accounting experience and excellent working relationships with legislative authorities and industry organizations. He was previously responsible for financial reporting at NCC, one of Scandinavia's largest construction companies. -- Mr. Per Hjerten (Technology Analyst) has extensive telecommunications expertise and will be specializing in mobile Internet technology. Mr. Hjerten served as the Senior analyst for the Swedish office of Technology in Tokyo, Japan. -- Mr. Martin Ildring (Investments Analyst) has fixed and wireless commerce solutions expertise with experience from Swedbank, Sweden's largest retail bank. About Stonepath Group Founded in 1998, Stonepath (AMEX: STG) builds and accelerates companies by combining capital investment, consulting and technology solutions. Stonepath currently holds interests in eight businesses in various stages of development, including: AlarmX.com, AssetExchange, BrightStreet.com, FlowerGarage.com, Metacat, SwapIt.com, Webmodal, Inc and YesAsia.com. Stonepath is based in San Francisco and has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Boston, Philadelphia and Stockholm, Sweden. |
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