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SpatialNews.com Press Release
Wireless News - Business News - Feature Columns
Vectiv to Launch First Comprehensive Real Estate ASP for Strategic Real Estate Decision Makers; Convergence Partners, campsix and Andersen Consulting Team with Newly Formed Company"Vectiv will transform the way companies make and manage their strategic real estate decisions by significantly improving business processes," said Francesco J. Rockwood, president and CEO of Vectiv. "If a company is able to open new and better locations faster and at a lower cost, they can save up to 30 percent in time, money and resources." In March 2000, Vectiv received $8.1 million in Series A investments from Convergence Partners and B2B Internet incubator campsix. Last month, Vectiv began work with Andersen Consulting to accelerate product development and devise its go-to-market strategy. Andersen will receive both cash and a minority equity stake in return for its consulting services. "For the first time, retailers will have the opportunity to evaluate sites against specific business criteria, rapidly find and select properties that best match those characteristics, and finally, streamline the acquisition and development process," said Frank Crocitto, partner, Andersen Consulting. Real Estate ASP The only solution designed specifically for real estate decision makers, Vectiv supports registered users through the complete lifecycle of site procurement and development. The system allows managers to use their company's proprietary site selection criteria to hone property selection and also enables the following:
"Vectiv doesn't seek to replace the human element but to use technology as a complement," said Ken Rosen, professor of business administration and chairman of the Fisher Center for Real Estate and Urban Economics at the University of California at Berkeley and a member of Vectiv's advisory board. "By systematizing both data and expertise, Vectiv allows decision makers to use their experience and relationships to close the best deals." Best-of-Breed Data and Technology Providers Vectiv aggregates data and analytics relevant to each customer. To do this, the company has partnered with proven technology and data providers to bring best-of-breed offerings to the new service. Technology and data partners include: Claritas, Inc. (demographics, lifestyles, business information); Sun Microsystems (Web servers); Oracle (Oracle 8i, Oracle Spatial); Fujitsu Software (iFlow workflow module); AnySite Technologies (GIS mapping software); DataQuick (real property and ownership information); MapInfo (demographics, traffic, roadway infrastructure); VistaInfo (environmental and underwriting information); National Research Bureau (shopping centers) and U.S. Geological Survey (topographical information). The Vectiv solution provides a full spectrum of functionality and will comprise four components: Vectiv Rating, Vectiv Analytic, Vectiv Communication and Vectiv Workflow Platform. About Vectiv Corp. Vectiv is the first company to apply the power of the Internet to the challenges of real estate acquisition and development for location-based businesses. Designed specifically for strategic real estate decision makers, Vectiv offers a Web-based, hosted application that integrates third-party information resources, sophisticated analytical tools, and workflow management capabilities into an easy-to-use, customizable, and collaborative software solution. The Vectiv system is an end-to-end solution that improves and accelerates every phase of the complex real estate acquisition and development process. Vectiv was founded in 1999 by a team of real estate and technology executives and is privately held, backed by Convergence Partners and campsix, Inc. The company is based in San Francisco; more information on the company, the Vectiv solution, and Vectiv's partners can be found at www.vectiv.com. This press release may contain forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward looking statements. CONTACT: Vectiv Corp. Kathleen Miller, 415/503-3902 Kathleen.miller@vectiv.com or GCI Group, SF Tammy H. Nam, 415/974-7242 tnam@gcigroup.com |
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