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St Ives plc invest in software business
Date Added: Mon 28 November 2011
St Ives plc is pleased to announce it has made a minority investment in The Evolved Group Limited. The business trades as Easypress Technologies a leading provider of eBook conversion software to the publishing industry.
The investment in Easypress represents another step in St Ives’s strategy to create a complementary range of publishing and marketing solutions and services, whilst reducing exposure to commoditised print markets, enabling the Group to add further value to existing and new clients.
Established in 1998, Easypress develops easy-to-use cross media publishing software that helps its clients to create, manage and publish content in multiple media, efficiently and profitably. A particular focus of its proprietary technology is the conversion of content into multiple formats including eBook and tablet. The business employs eleven staff, is headquartered in Guildford and has a strong client base within the publishing community.
St Ives’ existing publishing solutions business, Clays, is the UK’s leading book printer producing over 160 million books a year. This investment will enhance the Group’s ability to further develop its eBook strategy, and in turn will accelerate Easypress’ expansion, principally via investment in additional sales and marketing resource within the UK and US.
Kate McFarlan, Managing Director at Clays, said “We are delighted to have made this investment. It will present both parties with the opportunity to offer wider solutions to publishers that combine the need for books in both printed and electronic form.”
St Ives investment represents a 15.75% equity stake in Easypress and the agreement will include a right of first refusal in the event of the sale of all or part of the remaining equity in the business.
Following the investment, Easypress will work closely with St Ives within the UK but will continue to be managed by the existing management team from its current premises.
For media enquiries please contact:
Emma Weir or Juliet Cornwell at Believe Eve
tel: 0845 299 0200
or email: St-Ives@believeeve.com
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