Business
Joint Venture
Joint Venture.
About this update from Aeorema Communications Plc
[{"type":"text","content":"\n Cheerful Scout PLC\n01 August 2007\n\n\n Cheerful Scout Plc / Epic: CLS / Index: AIM / Sector: Media\n\n1 August 2007\n\n Cheerful Scout Plc ('Cheerful' or 'the Company')\n\n\n Joint Venture\n\n\nCheerful Scout Plc, the AIM-traded multi media specialist, has formed a new\ncompany, Business Data Interactive ('BDI'), in a joint venture with Apperly &\nAssociates Limited ('A&A'), to take advantage of opportunities in the\nfast-growing Business Intelligence market. By combining both companies'\ntechnology and skills, BDI will provide powerful, fully-integrated computer\nsoftware programmes to analyse and display business data.\n\n\nUnder the terms of the agreement, Cheerful, which will own 60% of BDI, will\ninvest £200k and licence the intellectual property ('IP') for its proprietary\nvisualisation software package, nVision Strategy, to the new business. This\nsoftware converts business data into real-time, 3D video graphics. A&A will\nlicence the IP for its own Business Intelligence Engine to the new business\nbringing sophisticated analytics and advanced data mining capabilities to the\nproduct offering. The combined Business Intelligence package will enable clients\nto visualise their data and conduct analysis in an engaging, interactive\nenvironment, ultimately delivering strategic insight and driving better\nmanagement decision making.\n\n\nDr James Apperly, founder of A&A, will become Managing Director of BDI. Dr\nApperly, an Oxford graduate with a PhD in Neuroscience, established A&A in 2003\nand has since worked with a number of blue-chip companies including BP and\nChevron-Texaco US designing and implementing business intelligence systems. He\npreviously worked at leading management consultancy, McKinsey & Company, where\nhe advised international companies on issues of strategy, organisation,\ntechnology and operations.\n\n\nStuart Appleton, Cheerful's Chairman said, 'The Business Intelligence market is\nmaturing rapidly as companies understand the need for leading edge dynamic\nmarket analysis in order to identify trends and consider their responses ahead\nof competitors. Our combined creative talent and technological know-how, in\ntandem with a deep understanding of the needs of business communications will\nenable BDI to deliver powerful, highly sophisticated, bespoke products to this\nmarket,...