Printer Friendly

UDEX Secures $5 Million in Financing for U.S. Expansion; 3i, Montagu Private Equity and Northbridge Ventures Support Leader in Product Data Quality Management.

REDWOOD CITY, Calif. -- UDEX, the world's leading provider of Product Data Quality (PDQ) management software and services, today announced the completion of an additional round of venture capital financing. The financing was led by 3i, a leading international private equity and venture capital firm, and included existing investors Montagu Private Equity and Northbridge Ventures. UDEX will use the funding primarily for its U.S. market penetration through expanded infrastructure, operations, sales and marketing efforts.

"Retailers and suppliers spend billions of dollars every year to address product data quality errors and to increase revenues," said Ali Erfan, partner with 3i and UDEX board member. "UDEX offers the world's only product data quality solution that provides trading partners with continuously accurate product data. As the company continues to build upon its success in Europe, we are delighted to support the team's US expansion through our global network."

"As the exchange of accurate product data reduces costs and maximizes efficiency across the supply chain, retailers, suppliers and consumers will all significantly benefit," said Ira Zalesin, chief executive officer of UDEX. "Trading partners need to start with accurate product data in order to comply with U.S. federal regulations and succeed with future technologies such as RFID. Without an accurate product information foundation in place, the era of true global supply chain collaboration -- to which we are deeply committed -- cannot become a practical reality."

About UDEX

UDEX, the world's leading provider of Product Data Quality (PDQ) software and services, offers the industry's only solutions that provide retailers and suppliers with continuously accurate product data. UDEX PDQ solutions allow retailers to develop predictable margin analysis, suppliers to protect brand equity, and consumers to make informed product decisions. UDEX customers comprise some of the world's most respected retailers and suppliers, consisting of 24 demand-side trading partners and nearly 3,000 supplier companies. Strategic partnerships with global standards organizations, data pools, solution providers and other industry bodies ensure interoperability and a consistent flow of accurate and complete product information to all parties. UDEX is headquartered in the United Kingdom, with further offices in the United States. For more information, please visit the UDEX website at

About 3i

3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia Pacific. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Mar 22, 2005
Previous Article:GE Auto Warranty Services Delivers Record 2004 Results; Business Cites ``e-Servicing'' as Key Driver of Growth.
Next Article:ViRexx Reports 2004 Results and Provides Update.

Related Articles
Global Private Equity Investments Hit Record $136 Billion; U.S. Leads Worldwide Investing with $98 Billion According to First Ever...
UDEX and IONA Sign Global Alliance to Improve CPG / Retail Supply Chain Integration Using Web Services.
Sonim Technologies Closes $18.6 Million Round of Funding; Sonim Provides IP-Based Instant Communication Solutions Optimized for GPRS, 3G and 802.11...
EVE Closes $3.2 Million in First Round of Funding; Investment Will Be Used to Grow R&D, Expand Worldwide Marketing, Sales Efforts.
EVE Secures $7.2 Million Second Round of Funding, Led by Auriga Partners.
$16 Million Financing to Fuel the Growth of Sonim; Accel Partners, Apax Partners, 3i and BV Capital Endorse Push-to-Talk and Mobile VoIP Application...
Ira Zalesin Named CEO of UDEX; Zalesin Charged with Expanding Industry Leading Product Data Quality Solutions to the Global Market.
Brainshark, Inc. Secures $6.9 Million Financing in Oversubscribed Round.
Nujira Secures $7.75 Million in Series A Funding; Financing to Expand Engineering and Business Development Activities.
Psytechnics Wins New Funding and Appoints Vice President of Marketing; New round of investment and strategic appointment of Benjamin Ellis to extend...

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters