Brainspark PLC
30 August 2000
BRAINSPARK PLC
BRAINSPARK GRANTS DIAMOND TECHNOLOGY PARTNERS A WARRANT TO INCREASE ITS
HOLDING IN BRAINSPARK, AND ANNOUNCES A STRATEGIC ALLIANCE
LONDON, August 30, 2000. Brainspark plc, the UK's AIM-listed incubator of
technology start-ups today announced that Diamond Technology Partners
Incorporated (DTPI), the Nasdaq quoted e-business services firm, will receive
a warrant in Brainspark in exchange for forming a strategic alliance to create
and grow e-commerce operations carved out of existing large national and
multinational corporations.
As consideration for forming the alliance, Diamond is being granted a warrant
to further align its interest with Brainspark's, giving Diamond the
opportunity to expand its ownership in Brainspark by another 3 percent.
Diamond currently owns 2.8 percent of Brainspark.
Diamond will increasingly work with European corporate clients to identify new
e-commerce business opportunities enabled by the Internet revolution and
provide the digital strategy from concept through demo, prototype, test
market and successful launch. Brainspark will continue to provide the start-up
funding and Internet business creation expertise and environment which is
essential in carving out new businesses from existing corporate environments.
The first project of this partnership is already in hand with a UK plc that
is benefiting from Brainspark and Diamond s combined resources, taking the
company from funding to successful launch.
Stewart Dodd, CEO of Brainspark, commenting on the partnership said:
'Rather than opting for a more generalist management consultancy, we chose
Diamond as a focused partner for our corporate e-commerce operations. Diamond
is recognised as having a world-class expertise in this area and a
track-record of creating dramatically different e-businesses that deliver
sustained market leadership.'
Mel Bergstein, CEO of Diamond Technology Partners, added:
'As offline businesses increasingly look to leverage their expertise and
resources online by creating e-businesses it is critical to provide the best
possible circumstances for these e-businesses to thrive. By working together,
Brainspark and Diamond will provide the financial support, infrastructure,
expertise and continuity that e-businesses need to succeed.'
Notes to Editors
Brainspark plc (LSE BSP) was founded in September 1999 and floated on AIM in
March 2000. It provides seed capital, physical infrastructure and management
support and coaching to its investees. Brainspark currently has 14 investments
including Petspark, LeisureHub and Metapack. Typically the investments range
between £500,000 and £1 million for an equity stake of 25% to 35%. Brainspark
is based in Clerkenwell, London. Brainspark's web address is
www.brainspark.com.
Diamond Technology Partners, Ltd (Nasdaq DTPI) is an e-business services firm
that helps clients develop and implement Digital Strategy - business
strategies for the digital age. These digital strategies typically transform
client business models and create dramatically different e-businesses that
deliver sustained market leadership. The European headquarters are in London,
where the company serves European clients across a range of industries
including financial services, consumer and industrial products and services,
telecommunications and energy, healthcare and insurance. Diamond's web address
is www.diamtech.com.
Enquiries:
Brainspark plc (020 7843 6600)
Mark Harford
Citigate Dewe Rogerson
Charles Vivian (020 7638 9571)
Translate
