e-know.net Press Release - NVM Invest into e-know.net Limited

Last Updated: Monday, 21 March 2005, 13:00 GMT

Telford based, Managed Service Provider e-know.net Limited, announces record profits for 2004, whilst also releasing news of a £1.5m investment by Northern Venture Managers Limited into e-know.net.

Formed in Feb 2000, e-know.net provides managed solutions to its client base from its Server Farm, housed at their Telford Headquarters.

Nigel Redwood, MD of e-know.net Limited, states, "2004 saw us break through the 1000 user barrier. We now support systems for over 50 clients, with some 1000 plus users spread over 13 countries. Our client base ranges from firms requiring a small number of users needing support, through to multi site, multi country, International Companies. We provide support on a 24 hour x 7 day basis with guaranteed up times in excess of 99% of the total available time. Applications that we offer include the full range of Microsoft products albeit we do host many solutions unique to each customer. This comprehensive facility is proving to be most attractive to clients, resulting in 2004 being a record year for e-know.net in terms of both profitability and revenues"

Simultaneously to this announcement, David Redwood Chairman of e-know.net, announced the investment into e-know.net of £1.5m by Northern Venture Managers Limited.

David Redwood stated, "One of our original investors from 2000, 3i Plc, wanted to realise its holding. Inherently this needed to be carefully managed as 3i were the largest single shareholder. We analysed the opportunities available to us and after due consideration chose Northern Venture Mangers Limited as our new partner. The funds raised by the new investment were partially used to buy out 3i Plc whilst the balance is being retained as additional working capital. The transaction has materially strengthened the Company not only financially but also bringing to the Board of Directors of e-know.net the considerable commercial expertise of Martin Green, NVM’s investment Director. One of the main considerations in choosing NVM was that we felt that they understood our business and that they would materially contribute towards our growth expectations. Having firmly established the Company through a 5 year period of overall UK business uncertainty, we now have a strong financial base, an excellent product set, and a proven service capability. The combination of all of these will, we believe, enable us to substantially increase our market share."

Martin Green of NVM states "We are delighted to have the opportunity to assist in the continued growth of e-know.net. David and the management team have successfully developed and established the business as a leading managed service provider, an area which we believe will see continued corporate activity in the foreseeable future."

Northern Venture Managers Limited is a privately held venture capital company, based at Newcastle upon Tyne, Edinburgh and Reading. Formed in 1988, it now manages funds exceeding £160m. NVM specialises in making equity investments in UK unquoted companies, normally in the range of £500,000 to £5m.

Northern Venture Managers Limited
30-31 Friar Street
Reading
RG1 1DX
Tel 0118 951 7000 Fax 0118 951 7001
www.nvm.co.uk
martin.green@nvm.co.uk

e-know.net limited
No 1 Telford Plaza
Ironmasters Way
Telford
TF3 4NT.
Tel 01952 236 236 Fax 01952 236 237
www.e-know.net
nigel.redwood@e-know.net
david.redwood@e-know.net