Rich May News: 2005
November 22, 2005
Hemscott PLC Acquires Rich May Client Corporate Fundamentals, Inc.
Rich May served as counsel to Corporate Fundamentals and the Rage Group, headed by Venkat Srinivasan, in connection with the sale of the portfolio subsidiary and its India knowledge facility to Hemscott PLC, a publicly traded United Kingdom information services holding company.. The transaction included the negotiation of related strategic and technology licensing agreements.
Hemscott, a leading provider of business information to the financial and professional communities, has acquired Corporate Fundamentals, Inc, a US financial data company with operations in India. Based in Boston, Massachusetts, Corporate Fundamentals has state-of-the-art proprietary technology that will radically enhance and extend Hemscott’s corporate information and data services and provide the platform for future expansion of its data assets. The acquisition also offers Hemscott the opportunity for significant cost savings. Corporate Fundamentals’ highly efficient data collection operations are based in Delhi, India, and it is intended that this facility will be extended to service Hemscott’s needs. Corporate Fundamentals’ systems will also enable Hemscott to offer powerful customized data collection to clients. This can include financial information or non-financial key performance indicators. This service will ultimately enable on-line users to click through to the original documentation from which the data was sourced. Ros Wilton, Chief Executive of Hemscott, said: ‘This acquisition is a tremendous opportunity for us to expand and strengthen our products and services to maintain our competitive edge. The addition of Corporate Fundamentals also offers us the chance to improve our margins significantly over time by locating the major part of our company data collection operation in India.
Click here for more information.
About Rage Frameworks, Inc. and Rage Holdings, LLC:
The Rage Group, based in Westwood, MA, is in the business of conceiving, developing, launching, incubating and accelerating the growth of businesses, products and services which leverage proprietary intellectual property such as Rage’s revolutionary business process automation technology, and the differentiated and integrated expertise of its principals and affiliates in information technology and collection, finance, credit, venture investing, statistical methodologies and on-shore and off-shore business process engineering and operations. Rage Frameworks’s patent-pending technology dramatically reduces the time to market for software applications without compromising robustness and flexibility. The Rage Group includes a seasoned team that has over a decade of experience delivering similar technology and solutions. Rage Frameworks licenses technology and provides start-up business services to emerging information companies, and Rage Holdings leverages Rage Frameworks proprietary technology and business development resources as an early stage investor by providing financial support. The Rage Group is led by CEO Dr. Venkat Srinivasan.
Before founding Rage, Venkat served as the first Entrepreneur-in-Residence at Bain Capital and was the Chairman and CEO of eCredit.com, Inc., a leading provider of credit, financing and receivables management solutions for business-to-business and business-to-consumer commerce. Venkat founded eCredit.com in 1993 and sold a 30% stake to the Internet Capital Group for $450MM in 2000.
Prior to founding eCredit.com in 1993, Venkat served as an Associate Professor of Finance at Northeastern University in Boston, MA. Prior to that, he worked for Union Carbide as Cash Manager for the company’s vast operations in India. Venkat holds a Ph.D. in Finance from the University of Cincinnati, is a Premier Member of the Credit Research Foundation, a Charter Member of the Tie-Boston, a Trustee of the HarborAlliance and a Certified Chartered Accountant [equivalent to a CPA] in India. Rich May has worked with Venkat since 1993 and has served as general counsel of each company he has founded.
About Hemscott PLC, Inc.
Hemscott is a leading international provider of business information to the financial and professional communities. Its core asset is a database, which contains information on more than 15,000 companies, 170,000 directors and officers and 60,000 capital market professionals and earnings estimates from 65 securities firms. It operates through three customer-focused business units – Business Information, which provides corporate information and services to the financial and business community; Investor Relations, which sells data on investing institutions and information services to investor relations professionals; and Media, which offers website advertising and a subscription newsletter for individual investors.
About Rich May
Rich May’s diverse practice embraces the organization and operation of business ventures, venture capital, private placements, hedge funds, public offerings, technology licensing, mergers and acquisitions, contracts, joint ventures, internet and e-commerce law, employee relations, intellectual property, litigation and dispute resolution, energy, telecommunications, public utilities, wealth planning and real estate. Rich May provides superior legal and strategic counsel through its extraordinary commitment to clients’ success, outstanding professional competence and straightforward ability to communicate. Rich May embraces an entrepreneurial spirit and maintains a mission execution culture that distinguishes Rich May from other law firms.
Rich May combines the stability and experience of one of Boston’s oldest preeminent law firms with the innovative spirit and energy of a venture catalyst intensely focused on serving high-tech entrepreneurs, emerging companies and investors in New England and throughout the United States.
For more information, visit www.richmaylaw.com.
More News
2007 2006 2005 2004 2003 2002
