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FOR IMMEDIATE RELEASE
NetShift Successfully Completes Multi Million Dollar Fundraising London,
England, 2 October 2001 - NetShift Software Limited, a UK-based
company developing and marketing solutions for self-service kiosks and
other public access devices, today announced that it has secured a
commitment of US$5m in expansion capital from Shell Internet Ventures BV (Shell
The funds will be used to extend the marketing of NetShift's solutions into
new geographic markets and to accelerate development of the company's
products and services.
Nigel Seed, Chairman and CEO of NetShift, said: "We are very excited to
welcome Shell Internet Ventures as a new, active investor. The Royal
Dutch/Shell Group is a global powerhouse with massive brand identity
and a long-term strategic vision. It sees the shift towards self-service
taking place in the retailing and service sectors and recognises that our
technology solutions are a key part of bringing about the change in
"We are delighted to welcome Nicholas Callinan to our Board of Directors.
Nicholas is Senior Vice President of Shell Ventures and has many years
of international experience as an investor and board member of many high
growth technology companies such as ours. He will be a tremendous asset to
the board as we plan and execute our global growth strategy."
"We are impressed at the range of significant opportunities that the company
has open to it," said Nicholas Callinan, "In particular,
we see significant potential for NetShift's technology solutions in the service and
retailing sectors where Shell is active. We hope to introduce the technology to
several companies in the Shell Group."
Rufus Connell, kiosk expert at Frost & Sullivan, said: "This round of
funding validates NetShift's installed base leadership in the
kiosk software marketplace. Shell Ventures' investment will help NetShift consolidate
its already established international presence. The kiosk marketplace has
demonstrated strong growth, and, with many large projects in the
pipeline, the need for fully managed software solutions becomes more obvious.
This Shell funding positions NetShift very well to satisfy that
For more information contact;
John Purcell, VP Marketing,
Berkshire RG14 5PX, UK.
Fax: +44 (0)1635 568850
NOTES TO EDITORS
About NetShift Software Ltd.
NetShift Software is among the leading solution providers of public
access/self service kiosk technology in the world. With a deployed base in
over 70 countries, NetShift and its global network of resellers are
providing solutions and professional services to organisations producing and
operating kiosks, ATM's, multimedia payphones and many other
self-service devices. NetShift solutions are available for individual devices and
networks of thousands of devices for information (route planning,
tourist information, museum guides etc.), communication (Internet, email,
vmail, SMS, telephony etc.) and entertainment (gambling terminals, fun games,
online tournaments etc.). NetShift solutions can be seen in leading
organisations worldwide in markets as diverse as eGovernment (City of
Rhode Island, The Library Of Congress, UK Post Office), Retail (Macy's, NCR,
IBM), Transport & Tourism (Ordnance Survey Mapping, UK National Trust),
Financial Services (Charles Schwab, Merrill Lynch, JP Morgan, HSBC), Hospitality
(Marriott Hotels, Hyatt Hotels, Hilton Hotels), Telecoms (France
Telecom, Cable & Wireless) and much more.
For more information, visit www.netshift.com
About Shell Internet Ventures and the Royal Dutch/Shell Group
Shell Internet Ventures B.V. is a corporate venture capital fund established
by the Royal Dutch/Shell Group of companies in November 2000 to make
minority equity investments in early stage companies in technology
areas relevant to Shell's current and future operations. The fund
invests in high growth, early and expansion-stage companies in the software, Internet
and business communications services sectors. For more information, visit
the fund's website at www.shell.com/internetventures-en.
The Royal Dutch/Shell Group of companies, "the Group", is a diverse group
of energy companies with operations in more than 130 countries. The
Group's businesses include oil and gas exploration and production; power
generation; manufacturing, marketing and shipping of oil products and chemicals
and renewable energy products, including wind and solar power. The
Group's parent companies are Royal Dutch Petroleum Company, which has a 60%
interest in the Group, and The Shell Transport and Trading
Company plc, which has a 40% interest in the Group. Shares in the parent companies are traded
on stock exchanges in Europe and in the USA.