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Standard Register Purchases Ventures West Investee InSystems Technologies Inc.Toronto, ON, June 27, 2002 - Ventures West, one of Canada´s largest privately owned venture capital companies, today announced that InSystems Technologies Inc. has agreed to be acquired by Standard Register (NYSE: SR), Dayton, Ohio, a leading document-management company with more than $1 billion (U.S.) in annual revenues. InSystems Technologies, Inc., is a leading provider of insurance portal software and document automation solutions. By using InSystems´ e-business software, financial services organizations deliver web-based personalized sales, fulfillment, and service capabilities across all of their relationships. Ventures West initially invested in InSystems in 1996, and subsequently participated in each following financing round. "We invested in an early stage company that had a unique quality product and a talented management team. The market opportunities were tremendous, " says Ted Anderson, Senior Vice President of Ventures West and Director of InSystems. InSystems was one of Ventures West largest investments. "Ventures West has been committed to InSystems´ vision from the very beginning and this acquisition validates our value proposition," adds Anderson. "InSystem´s product and expertise will allow Standard Register to accelerate their evolution as a leading provider of information solutions that help companies improve their business results." "Ventures West played a critical role in our success," says Michael Egan, Chairman and CEO of InSystems Technologies, Inc. "Ted Anderson has provided quality guidance and expertise to the Board and has proven a valuable partner over the years. We are pleased that Ventures West can share in our success." Ventures West has over 30 years experience as a privately held venture capital management group with funds that total over $400 Million and investment experience that spans 150 companies. The Ventures West IT portfolio includes Burntsand Inc, Executive Management Technologies Inc., Fincentric Corp, INEA Corp., and Pivotal Corp.
About Ventures West Ventures West is a privately held venture capital investment group that invests in early stage technology companies across North America from offices in Vancouver, Toronto and Ottawa. Since its founding in 1968, Ventures West has invested over $400 million in more than 150 companies. Ventures West has the people, the expertise, and the capital to develop emerging technology companies into market leaders. Our investment strategy focuses on four technology sectors: Information Technology, Telecommunications, Biotechnology and Power Technology. For more information, visit www.ventureswest.com.
For more information contact: Ted Anderson Christine Ramsay |
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