Protégé Software to Manage European Expansion for Virage, Inc.
Protégé now manages European operations for eight North American technology companies LONDON -- Nov. 23, 1998 -- Protégé Software, Ltd., the leader in managing expansion into Europe for North American Internet companies, today announced it has signed Virage, Inc., to its growing roster of vendor companies. With the addition of this market leader, Protégé now manages eight North American Internet companies--two of which appear on Red Herring magazine's 1998 list of 100 top companies, and six which are listed among UPSIDE magazine's 1998 "Hot 100" companies.
The recognized market leader in video and image search products, Virage (www.virage.com) will join Protégé's other market-leading Internet companies: Vignette, NetGravity, iCat, Andromedia, Preview Systems, SoftQuad, Pin Point and DataChannel, which have turned to Protégé to help them establish a strong, viable European presence.
"To date, Virage has been successful reaching the European market by leveraging our U.S.-based operations, counting the BBC and Cap Gemini among our customers and partners," said Paul Lego, CEO of Virage. "Working with Protégé to establish a U.K. office accelerates our market entry strategy and emphasizes the commitment we are making to the European market. We expect our success in Europe to mirror the leadership position that we've established in the U.S." Protégé Reduces Business Risk Protégé provides the benefits of a vendor-specific operation without many of the associated risks, made possible in part, through the direct, one-to-one correlation that exists between the Protégé general managers and the vendor company. Protégé's Virtual Management™ model encompasses all aspects of a business including management, recruitment and human resources, consulting, professional services, venture capital and financial management services.
"The addition of a top company like Virage to Protégé's roster not only demonstrates Europe's long-range business opportunities, but also points to our unprecedented track-record in bringing the Internet industry's best companies to Europe," said Larry Levy, Protégé president and CEO. "We understand the challenges that companies face when entering the European market, and our expertise, infrastructure and network of contacts helps us overcome the common obstacles on behalf of our vendor companies." Advantages of Virtual Management Model Protégé has developed a Virtual Management model that creates a unique partnership with vendor companies, giving them the leverage they require to access European markets.
Protégé takes advantage of its management expertise and network of European business relationships to establish companies that are staffed, owned and operated as subsidiaries of the North America-based parent vendor company. The only exception is the general manager, who is a Protégé employee.
Through its Virtual Management model, Protégé provides the operational infrastructure and management expertise to address key business opportunities and challenges associated with European expansion--all while keeping the risks and investment to a minimum. Protégé's business development and management solution reflects and supports the vendor company's overall business objectives and strategies, ensuring that they have total control over business objectives and fiscal matters to ensure consistency on a worldwide basis.
About Protégé Based in the U.K., with offices in France and Germany, Protégé helps North American-based Internet companies enter the European market with a low-risk, proven business development and management solution that reflects and supports the vendor company's overall business objectives and strategies. Protégé was founded in February 1996 by Larry Levy, former European vice president and founder of Delrina Europe Corporation.
Protégé has developed a Virtual Management model that creates a unique partnership with vendor companies, giving them fast-track access to European markets. For more information, visit http://www.protege.co.uk/.
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