Financial Watch

MIS AG U.S. Execs Purchase Majority of N. American Division

MIS AG, a leading European provider of business intelligence solutions, announced that the executives of the North American division have purchased majority ownership of its North American company. Exact terms of the agreement were not disclosed except to confirm that the executives hold the majority stake of MIS AG North America.

"MIS AG has established a significant position as a principal provider of business intelligence in Europe and Asia," said Tony Politano, North American chief executive officer of MIS AG. "The opportunities in the U.S. and Canadian markets are vast, and the U.S.-based management team's majority ownership will help us to focus and solidify our position as a leader in this country."

Politano will continue as the North American company's chief executive officer, heading the group formed to run its operations. James T. (Jim) McCarthy, formerly director of sales, North American partner channels, will act as vice president of business development and partner channels. Herbert Birman brings over 18 years of financial management expertise to the newly created position of vice president of finance and operations.

In the same announcement, MIS AG shared that Lisa Laudeman, formerly western regional director of MIS AG in the U.S., has been named vice president, sales, North America. "As a business grows, their data grows. For most companies, the challenge of how to analyze that data, answer time sensitive questions and increase business is an unknown. With MIS DecisionWare any company can find the needle in the haystack that will increase their return on investment," said Laudeman.

"MIS DecisionWare, our integrated suite for business intelligence, will be our flagship offering in North America," shared Politano. "Companies such as Hewlett-Packard, 3Com and Multifoods are already using MIS DecisionWare to enable collaborative business intelligence and reporting throughout their organizations, moving organizations from single threaded business intelligence to true collaboration. We anticipate that more and more U.S. and Canadian companies will be interested in MIS DecisionWare, to eliminate the barriers that older, less sophisticated business intelligence software products have created in their companies, thus preventing true knowledge collaboration."

The company name MIS AG will remain unchanged here in North America. More information about MIS AG North America can be viewed at www.misag.com.

Contact Cindy Tietjen, Assistant Account Manager, The Devon Group, 1129 Broad Street, Shrewsbury, NJ 07702, 732-542-2000 x15.