Intervid set for global expansion
June 2001
News
Following an Intervid announcement in March this year, of a US$50m convertible loan for its international expansion, the company has embarked on a strategic global expansion drive that will provide Intervid with a footprint in major markets worldwide.
The company has made significant progress towards establishing international structures in geographic locations where significant potential for its products and technology exist. The primary international targets at this time are the USA, UK, Europe, Australia, Africa and the Middle East.
Intervid has recently announced the acquisition of SecurData Systems, a Washington DC-based company, whose major clients include Time Warner and America On-Line. Intervid has also established itself in the UK and Middle East, with Intervid UK and Intervid Dubai now fully operational. As far as Australia is concerned, the company is in the process of negotiating a deal with a Perth-based company, which will provide entry to the mining, commercial and industrial markets in Perth and Sydney.
Commenting on these acquisitions, Intervid's CEO, Rob Howard, said, "Our international expansion plan is now coming to fruition. The structures we are setting up will provide us with a footprint in four major global markets, where we believe there is substantial potential for Intervid's technology."
In order to control this expansion, Intervid is reorganising its management structure. International headquarters will remain at its office in Kloof, under the direction of CEO, Rob Howard, MD, Rob le Sueur, and CFO, Keith Pitout. Newly appointed head of the local operation, Iain Foxon, will run the South African business from Intervid's offices in Midrand. The expanded Research and Development division is relocating to Umhlanga Ridge.
Intervid
(031) 764 9700
[email protected]
www.intervid.co.za
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