StarCite Acquires Travent, Limited
Underscores Continued Global Growth.
May 15, 2007 - StarCite, the leading provider of On Demand Global Meeting Solutionsâ„¢, announced today that it has acquired Travent Limited, EMEA, a UK-based provider of enterprise meeting management and global technology solutions to European companies and industry partners. Through the acquisition, StarCite continues its growth plans to expand globally, and secures an impressive base of corporate customers and experienced staff in Europe.
As a StarCite technology distributor for several years, Travent has successfully built its business in Europe by implementing meetings technology solutions for global corporate customers, including Pfizer, HRG and others, and by providing services that optimize new business processes for its clients and partners. With Travent's staff of experts joining StarCite, the acquisition will also bolster its European operations capabilities.
"As we continue to grow within the European market and globally, we are constantly looking for ways to improve our solutions and better serve our clients," said John Pino, StarCite Founder and President of StarCite International. “We are not only excited to expand our global presence, but as strategic meetings management continues to gain momentum worldwide, we are also proud to gain a team of experts in meetings spend management. Travent has built strong industry and corporate relationships, and we are looking forward to introducing even more services and capabilities to this impressive base of customers."
"StarCite has a long-standing reputation in the meetings industry for providing the most advanced meetings technology solutions to its clients that allow for greater control and visibility over meetings spend," said Ray Thackeray, Managing Director, Travent Limited, EMEA. “We are looking forward to joining forces with StarCite so that we can continue to provide the most innovative managed meetings programs, as well as a vibrant supplier marketplace that enables strategic sourcing. Our clients will benefit as they take advantage of greater functionality and StarCite's rich roadmap of planned technology and service enhancements."
As a co-founder of seeUthere Technologies, Ray Thackeray has been a long-time advocate of strategic meetings management and brings additional seasoned experience to StarCite's team. He will continue to work with StarCite in building its European client base and capabilities.
StarCite's international revenues continue to grow rapidly, with nearly 20% of its business now being generated outside the US. “We're excited about this acquisition," said Mike Boult, StarCite President and CEO. “With many of our current customers now rolling out programs in Europe, having more expertise there is an important differentiator for us. This definitely accelerates our plans and gives us momentum as we continue to grow globally."
Terms of the agreement were not disclosed.
StarCiteÂ® is the leading provider of On Demand Global Meeting Solutionsâ„¢. StarCite optimizes global investments in corporate meetings and events, delivering visibility, savings and control. StarCite provides process efficiency, enabling technology and proven adoption management support to drive significant cost reduction to buyers and enhanced revenues to suppliers. StarCite headquarters are based in Philadelphia, USA; the European headquarters are located in DÃ¼sseldorf, Germany. StarCite's equity holders include Internet Capital Group (NASDAQ: ICGE), TPG Growth, Norwest Venture Partners (NVP), TL Ventures and Seaport Capital. For more information about StarCite or its technologies and services, please visit www.starcite.com.
Founded in 2002, Travent Limited, EMEA provider of MeetingView enterprise meeting management solutions, provides a comprehensive solution for the $300 billion global market for professional meetings and events. By standardizing a meeting management process to consolidate and control expenses enterprise-wide, Travent helps its clients to achieve greater cost savings and more effective meetings.
StarCite Media Contact for USA:
Sloane & Company
StarCite Media Contact for Europe:
Marketing Communications Manager
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