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Wed 29 Jan 2003 04:00 AM

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Estithmaar Ventures acquires 9% stake in StreamServe

The Dubai-based venture capitalist company has spent an undisclosed amount for 9% of StreamServe, an information exchange software provider.

Estithmaar Ventures, a Dubai-based venture capitalist fund has forked out an undisclosed amount of money to acquire 9% of European software vendor, StreamServe. The vendor operates in the communication market, where is offers a platform independent, multi-channel, bi-directional business information exchange.“Estithmaar’s investment is a clear indication of the current performance and future potential of StreamServe” says Nick Earle, CEO of StreamServe.“We are consistently outgrowing the market and are rapidly penetrating several geographic regions worldwide. We’re delighted to have a partner of Estithmaar’s credibility to help further drive our growth,” he adds.The information exchange helps companies reduce the cost of communication throughout the organisation and with distributed customers, suppliers and employees. StreamServe's software will enable user organisations to increase the return on investment (ROI) on other enterprise software such as enterprise resource planning (ERP) applications.The StreamServe deal is Estithmaar’s first investment in the three months that they have been in operation. Estithmaar Ventures is a jointly run operation between Deutsche Bank and Dubai Government with a remit to invest in technology, media and telecommunication companies in the Middle East, Europe and the US.

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