SpatialNews Press Release
Datamatics Enhances Investment In Saztec -- Immediate access to global software and IT expertise focused on
broadening the scope of value-added services for clients will place
Saztec higher in the value chain
BILLERICA, Mass., Oct 27, 2000 - Saztec International Inc. (OTC Bulletin Board: SAZZ) today announced an
enhancement in investment of $1.4 million lead by Datamatics Technologies Limited, a premier information technology and knowledge management
provider, based in Mumbai, India. This will enable a tighter coupling of the Saztec and Datamatics capabilities to provide end-to-end knowledge
management solutions. The closer association will significantly increase Saztec's content management capacity, and enhance quality and turnaround
time, to provide added value for its clients.
Datamatics has been a long-standing service partner with Saztec for more than four years. An organization profoundly committed to service and
quality, Datamatics will enable Saztec to fully capitalize on the exciting transformations in the knowledge driven economy.
"Our strengthened relationship with Datamatics is a milestone in the history of Saztec, and indicative of the bond between the technological
communities in India and the USA, fueling innovative solutions to the benefit of many organizations worldwide. Together, we are well-poised to meet
the challenging high-end knowledge management market requirements, more complicated content management, and the need for dramatic increase in
turnaround times", says Christopher Parker, President and Chief Executive Officer, Saztec. "We look forward to building a strong and successful
business together."
As part of this enhanced relationship, two executives from Datamatics were elected as directors. Says Dr. L.S. Kanodia, Chairman, Datamatics, "We
look forward to further strengthening our ties with Saztec who has been our partner for several years. There is great synergy and complementary skills
in our two organizations. This investment will enable the two companies to work in tandem to the customer's benefit."
About Saztec International Inc.
Saztec is a provider of information management and content building services. Saztec specializes in a broad range of services that help customers
manage the conversion of information (data, text, graphics) from traditional media to computer usable formats and media. Services include, data
capture and formatting for on-line vendors, of archival files, market researchers data collection, text capture, indexing and imaging of resumes for the
human resources department of major companies utilizing automated employee recruitment applications, retrospective catalogue conversion for
national and research libraries, data capture and imaging of case report forms for new drug applications for the pharmaceutical industry, facilities data
capture and graphics conversion for graphical information systems, claims processing, and income tax returns processing.
About Datamatics Technologies Limited
Datamatics specializes in end-to-end knowledge management solutions. The company has perfected the technology for providing flexible and
expandable solutions in data warehousing, imaging technologies, work flow and document management, cartography, GIS, and XML/SGML mark
up. At its state-of-the-art facilities, Datamatics offers its clients solutions to complex knowledge management requirements that facilitate analysis and
enhance the value of decision support systems.
Datamatics builds knowledge portals that are an amalgamation of software applications that consolidate, manage, analyze and distribute information
across and outside an enterprise using the web. The company has expertise in both, B2B and B2C segments. Datamatics has strategic alliances with
world leaders like Lexis-Nexis, Saztec, Ardent, FileNet, HummingBird, Brio and many others for providing knowledge management solutions
Additional information about Datamatics is available at www.datamatics.com
Nature of Investment
Datamatics purchased slightly more than two million shares of Saztec from another shareholder, and now owns approximately 40% of the company's
outstanding shares. Datamatics also loaned Saztec $550,000, and received the right to convert this loan into additional shares of the company. If the
principal of this loan were converted, Datamatics would own approximately 53% of Saztec's shares, based upon the number of shares presently
outstanding. In addition, pursuant to a voting agreement with another shareholder, Datamatics may elect a majority of Saztec's directors.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The Company's actual results could differ materially from those set forth in the forward-looking statements. Certain
factors that might cause such a difference include risks relating to product development, new product and service announcements and introductions,
changes in growth of the market for human resources staffing software and services, market acceptance of the Company's products and services and
those of its personnel, and general economic conditions.
CONTACT:
Christopher Parker, President and CEO of Saztec,
978-901-9624, cparker@saztec1.com
Discuss This News With Others!
Return to Today's News Index
|
