Plumb Design Receives Investment from
German GFT Technologies AG
Strategic Relationship Helps Expand Market for
New York, May 19, 1999 New York based Plumb Design announced today that it has formed a strategic partnership with GFT Technologies AG, a German firm with offices throughout Europe. GFT, known for its innovative work for Deutsche Bank, Credit Suisse, BMW, and Seimens, has developed a reputation across the Continent for their systems integration, e-Commerce applications, technology services, and business consulting. With offices in Dublin, Zurich, Hamburg, Munich, and elsewhere in Europe, GFT has been developing innovative IT applications for more than 10 years.
In addition to providing funds to fuel Plumb Design's growth, the relationship with GFT supplies Plumb Design with a European distribution partner for its software products, including Thinkmap, Plumb's tool for developing next-generation Java-based interfaces. Thinkmap, which is now used by companies such as Sony Music, the Smithsonian Institution, United Media, Bacardi, and Sun Microsystems, has garnered extensive praise in the United States as an innovative tool for creating simple yet dynamic Java displays of complex information.
This newly-announced partnership brings together the forefront of database and interface technology. GFT's stature in Europe provides Plumb Design with yet another avenue along which to distribute its increasingly popular software. European companies represent an enormously expanding arena in which demand for information publication technology is rising sharply. The alliance with GFT supplies Plumb Design with a strategic advantage, giving it both the capital and the access necessary to tap into these new markets and service a global clientele.
"We see our relationship with GFT as the next logical step in evolution for Plumb Design," said Plumb Design CEO Mary Azzarto. "Since we started this company, we have been focusing on the twin goals of creating intelligent software and providing innovative solutions for our clients. As our software matures and we begin large-scale projects for clients who can benefit from a global perspective, we see GFT as a powerful ally that can help us better meet these goals."
"There appears to be a strong synergy between the two companies," adds Ulrich Dietz, GFT's CEO. "While we have focused primarily on back-end technology and consulting with clients as to the best way of applying such technologies in Europe, Plumb has developed an expertise in creating user interfaces on the Web that take advantage of strong technological fundamentals. We are excited to see how this relationship develops."
About Plumb Design, Inc.
New York based Plumb Design, Inc., the developer of Thinkmap®, collaborates with its clients to produce online experiences that facilitate the exchange of knowledge and the interplay of ideas. The Company specializes in the design and development of next generation interfaces. Clients include The Motorola Museum, The National Geographic Society, PBS, The Smithsonian Institution, Sun Microsystems, and United Media. More information about Plumb Design can be found on the Internet at www.plumbdesign.com. More information about Thinkmap can be found at www.thinkmap.com.
About GFT Technologies AG (GFT AG)
In 1998, for the second year in a row, GFT Technologies AG (GFT AG) ranked among the top 500 fastest growing software and IT consulting companies in Europe. GFT AG offers a complete range of innovative product packages and services for customized Internet, e-Commerce, Customer Management and Supply Chain Management solutions. Based on a distinctive fixed time/fixed price schedule, GFT AG brings solid technological know-how, excellence in multimedia design, and many years of project and method experience to each new endeavor.
GFT was founded in 1987 and has had an annual growth rate of around 40 percent. The GFT Group's revenues in 1998 were 46.9 million German marks (USD25.6M). With headquarters in St. Georgen, Germany, the Group currently employs 300 people at 11 sites in Germany, Switzerland, Ireland and the USA.
Further information on GFT AG can be found on the Internet at www.internetprofi.com.