Syzygy announces intention to list
4 May, 2000
London - European eBusiness solutions firm Syzygy (www.syzygy.net) today announces its intention to list on Germany's Neuer Markt later this year.
Syzygy comprises three ’best of breed’ eBusiness firms - Syzygy Ltd., London, Frankfurt-based firm United Media (www.unitedmedia.de) and France’s NetForce (www.netforce.fr) - under the internationally established Syzygy brand, all leading firms in their respective countries.
The group is to incorporate as Syzygy AG and fulfills the formal integration after working as strategic partners for over a year.
Key investors in Syzygy include WPP Group plc (LSE: WPP / NSDQ: WPPGY), which owns approximately 30% of the combined company, US-based venture capital firm esnet and French marketing services group HighCo (F: HIH).
According to Syzygy CEO Chris Robson, ‘Unlike many of our competitors, Syzygy has significant experience in deploying pan-European solutions. Listing on the Neuer Markt will confirm our status as a leading European player, and gives us access to greater liquidity.’European eSolutions for international businesses
Syzygy’s new structure formalises its continuing work with Europe’s largest organisations to conduct profitable eBusiness in the key European markets of Germany, France and the UK. Syzygy’s European offer is backed by its unique eBusiness Solutions Framework, which combines real expertise in eCommerce, eCustomer Relationship Management and Content Management.
Cross-border solutions include eCommerce and communications projects for firms such as Siemens AG and QXL.com. Syzygy is working on a number of other international projects, details of which will be announced shortly.Profitable growth story
Syzygy reported combined group revenues for 1999 of EUR 11.7m, and has a track record of profitability. It has appointed HSBC as adviser on the listing. The group employs 160 people in Frankfurt, London, Munich and Paris.