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Noosh Opens European Office and Signs Major Contracts

Press release from the issuing company

  PALO ALTO, CA., - October 11th, 2001— Noosh, Inc., (www.noosh.com) a leading provider of e-Business solutions, announced today the opening of its European subsidiary in Egham, United Kingdom. Noosh Europe Ltd. will initially serve customers located in the United Kingdom, France, and Germany. The European arm of GE Capital's consumer insurance and investment services, GE Insurance Holdings (GEIH), has already deployed Noosh's collaborative technology to help manage and procure printed materials. Announcements of other new contract signings will be forthcoming. Noosh helps companies to procure "non-catalog" goods and services like print, packaging, direct mail, marketing events, professional and temporary services, business insurance, and capital equipment projects. The need for cross-enterprise solutions that help large organizations to conduct business more efficiently with their trading partners and customers is creating a market opportunity for Noosh within the global business arena. According to the Gartner Group, European B2B transactions amounted to $72.5 billion last year and are expected to grow to $11.7 trillion by 2005. "Large enterprises around the world want to eliminate the barriers that impede collaboration and commerce," said Dave Hannebrink, vice president of marketing and business development at Noosh. "We are pleased to be able to offer our collaborative technology products and services directly to the European market via a European company." "The adoption of digital, collaborative solutions is another sign of the growing cohesiveness of the EU region," said Nicholas Wetton, managing director of Noosh Europe Ltd. "Aside from simplifying transactions processes, companies want tools to help them easily and rapidly connect individuals and suppliers who may reside in different geographical regions. We look forward to building partnerships with local companies who seek a more efficient way to deal with their trading partners." Office headquarters of Noosh Europe Ltd. are located at Runnymede Malthouse off Hummer Road, Egham, Surrey, TW20 9BD, United Kingdom. The company can be reached by telephone at +44 1784 487912.