Its Official: httprint Gets $12 Million Placement, Acquires Publishers Market
Press release from the issuing company
New financing from leading international media company strengthens httprint’s print e-procurement and related services, fuels expansion
SAN FRANCISCO, June 17, 2002 – httprint, a technology and solutions provider focused on helping corporate customers better manage their print production and spending, today announced that it has secured $12 million in new financing. The financing is led by Investcorp SA, a leading venture capital investor, and Bertelsmann Capital Ventures, the exclusive corporate venture unit of Bertelsmann AG, one of the world’s largest media companies and purchasers of print and related services.
In a related move, httprint has acquired Publishers Market AG, a firm based in Munich, Germany, that specializes in Web-enabled print advertising workflow solutions. The terms of the acquisition were not disclosed.
Mark Porter, President and CEO of httprint, said the new capital will be used for expansion of company operations in New York and Germany, further development of the company’s next-generation software, as well as enhanced service to current and prospective httprint clients.
"We are extremely pleased to have Bertelsmann join our other investors in helping us continue our expansion, which has already seen growth on average of over 200 percent annually in the last three years," said Porter. "Bertelsmann not only represents a powerful investor and business partner, but it is one of the world’s largest purchasers of printing and related services. This allows them the opportunity to utilize our software and services across their portfolio of companies, which is in turn a great opportunity for httprint."
Porter said the Publishers Market acquisition dramatically expands httprint’s service capability in Germany, which is Europe’s largest market for print. Rainer Heckman, formerly CEO of Publishers Market, has been named Managing Director of httprint’s expanded German operations.
Jan Kantowsky, Managing Director of Bertelsmann Capital Ventures, will join httprint’s board of directors. He said httprint represents a strategic investment in a leading-edge company. "We seek out innovative, growth-oriented companies in media-related markets," explains Kantowsky. "We chose httprint because its successful growth will continue to be driven by print-focused supply chain solutions that will help Bertelsmann and other major print buyers achieve cost savings and efficiency improvements."
Hazem Ben-Gacem of Investcorp said the addition of Bertelsmann to httprint’s investor base underscores his company’s analysis that httprint is emerging as the company of choice in the print e-procurement space. "httprint’s combination of technology and specialized print services is providing real value to customers such as those found throughout Bertelsmann’s extensive media holdings, as well as other major corporations," said Ben-Gacem.
About Bertelsmann Capital Ventures
Bertelsmann Capital Ventures (BCV) is the exclusive corporate venture unit of Bertelsmann AG. Bertelsmann AG is the world’s most international media corporation with 80,000 employees operating in 55 countries and annual revenues of _20 billion (2000/2001). BCV investments help the corporation stay at the leading edge, and drive growth and innovation in the media sector. BCV works closely with portfolio companies to achieve financial and strategic targets, fully leveraging Bertelsmann’s resources and assets. For further information visit www.bertelsmanncapitalventures.com.
Investcorp is a global investment group. The firm has four lines of business: corporate investment, technology investment, real estate investment and asset management and undertakes private equity and venture capital investments in North America and Europe. It was established in 1982 and has since completed transactions with an aggregate value of approximately US $20 billion. In Europe, Investcorp and its clients currently own technology investments that include Avecia, Gerresheimer Glas AG and Welcome Break. In the United States, Investcorp and its clients currently own corporate investments that include Neptune, Jostens and Synthetic Industries. Further information on Investcorp is available at www.investcorp.com
About Publishers Market
Publishers Market, founded 2000 in Munich, Germany, offers the Internet-based workflow system AdSpectra to advertisers, agencies and publishers who book ads, produce and transmit digital artwork. AdSpectra allows for the simultaneous transmission of ad booking information and related digital artwork with verification to different newspapers and magazines via the Internet.
httprint is a total solutions provider focused on the printing vertical. The company’s e-Procurement software automates and streamlines the print procurement and management process for both print buyers and their suppliers. httprint’s Strategic Consulting team analyzes and streamlines a company’s overall print spend which typically saves clients between 10 and 40 percent. httprint’s Managed Services team provides outsourcing for all aspects of print production. Current clients include DIRECTV, Williams Lea and SBC Communications.
Headquartered in San Francisco, httprint also has regional full-service hubs in Los Angeles, London, Amsterdam, Munich and Düsseldorf. For information about services and partnering opportunities, call 415.216.4200 in the U.S., +44(0)1908.661200 in Europe, or visit www.httprint.com.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.