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Vio to Accelerate U.S. Growth with $3M in New Development Funding

Tuesday, September 30, 2003

Press release from the issuing company

September 28, 2003--Graph Expo and Converting Expo 2003--Vio Inc., one of the world's leading suppliers of collaborative digital supply chain software and networking services for the graphic arts industry, today announces that it received $3 million in further funding from LMS Capital, the venture capital arm of London Merchant Securities plc. These funds will allow Vio to significantly expand its U.S. operations and to reach new markets in Europe and Asia-Pacific. Vio is seeking to take advantage of the tremendous opportunity created by industry demand for its inter-enterprise workflow solutions, driven in part by economic conditions requiring its customers to improve workflow efficiencies and the bottom line. "Vio has end-to-end solutions to help manage digital asset workflows in a wide range of environments. With this further funding from LMS Capital, we are well placed to reach many more customers, especially in the United States. With our experienced management team, 24/7 global operations, industry partnerships and fast-growing client base, we are a driving force for change in the graphic arts industry," comments Richard Horwood, Executive Chairman for Vio Worldwide. "Vio is set to become the world's leading provider of digital asset workflow technology for all parts of the graphic arts community, including prepress, publishing, printing and packaging, agencies and corporate marketing departments struggling to manage their digital asset workflows. It's the right time for Vio to focus on its expansion in the U.S., European, and Asia-Pacific markets. Vio's growth potential is clear, and this strategic investment will accelerate its success," states Nick Habgood, Investment Director at LMS Capital. As part of Vio's expansion, Horwood has relocated from the company's UK base to its New Jersey and New York offices. To support this expansion, Stuart Spiers has been appointed to the new post of Managing Director, Europe, and Miranda Clegg will take on the role of Group Marketing Director, both based in the UK. These appointments follow that of Alan Darling as Executive Vice President of Vio Inc. Vio has offices in the United States, the United Kingdom, France and Israel. Since 2001, LMS Capital has invested more than $10 million into Vio, especially its research and development. The company's year-over-year revenue has increased by 70%, and the rate of growth is accelerating. Vio attributes this success to its network services and its unique inter-enterprise workflow solution, the Vio Digital Workflow Suite. This network-agnostic suite of products is proving invaluable to the graphic arts industry, especially advertising agencies, magazine and newspaper publishers, prepress operations and printers, all of which require these tools to exchange valuable metadata for end-to-end collaborative production processes. The results dramatically reduce costs and errors, while improving service and increasing business opportunities. Vio has helped printers such as the Wyndeham Press Group and publishers such as Reed Business Information to leverage their technology for integrated management of distributed media across the entire digital supply chain. Recent company milestones for Vio include the acquisition of Portland PMS (now named Vio Integrated Solutions), a digital asset systems integration company specializing in graphic arts workflows. Vio has also recently released v.5.0 of its flagship product, the Vio Digital Workflow Suite, which gives users the unprecedented ability to send and receive files over third-party file transfer solutions. For more information, contact Vio at 973 535 6080 or info@vio.com.

 

 

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