17 March 2008

ASI Invests in Online Scientific Publisher Versita

Warsaw, March 17, 2008 – The investment group Ambient Sound Investments (ASI) has announced a 400000 Euro investment in an online publisher Versita. The fast growing Polish venture is seeking to become the leading scientific online publisher and electronic publishing technology provider in Central and Eastern Europe. As a result of the investment deal ASI will acquire 20 per cent of the publishing company. Versita is the first venture in Poland so far to attract the backing of ASI - investor with particular interest in innovative technology companies of Central and Eastern Europe.

The cooperation with ASI will help Versita bring world class electronic publishing technology solutions such as MetaPress, Editorial Manager and ebrary to scientific and professional content publishers of Central and Eastern Europe. Versita will also set up local language platforms for e-content distribution in the countries of the region.

"Versita values ASI's experience in investing in technology companies and the knowledge of the CEE region which contributes to understanding of our business and the market," says Jacek Ciesielski, the CEO of Versita. "We also appreciate the young and enthusiastic team of ASI and their fresh, innovative approach to business development."

According to Tauno Tats, the CEO of ASI the obvious strengths of Versita are technology leadership and the latest scientific content. "Versita is a perfect match for our investment portfolio of innovative companies that either create world class technical solutions or use them to provide a service based on those technologies. Versita uses world class technology to bring the advantages of contemporary online publishing solutions to the creators of the latest scientific information."

The publisher will first concentrate on the larger markets of Central and Eastern Europe, such as Poland, Russia and the Czech Republic but will expand to other countries of the region in the coming years.

"The market of online scientific publishing is growing quickly and those who want to dominate the market need to have the fastest and most convenient technology. That is precisely what Versita is best at," adds Tats.

NB! Photos can be downloaded from the following addresses:

Jacek Ciesielski: http://www.versita.com/UserFiles/Image/Photos/JC_foto.jpg

Tauno Tats: http://www.asi.ee/files/tauno_big.jpg

Versita

Established in 2001 by Jacek Ciesielski, Versita publishes scientific electronic journals focused on Central and Eastern European research, and distributed globally in partnership with a leading international scientific publisher Springer. Versita also provides scientific content publishers with the world's leading electronic publishing technology solutions such as MetaPress, Editorial Manager and ebrary. For additional information, please see: www.versita.com

ASI

Ambient Sound Investments (ASI) is an investment company of four Estonian co-founders of Skype, using its assets to fund budding international technology enterprises. ASI is mostly focusing on Eastern Europe and Russia, searching companies that are developing novel technologies or based thereon to be added to its investment portfolio. For additional information, please see: www.asi.ee

For additional information contact:

Jacek Ciesielski
Managing Director, Versita
Skype: jciesielski
gm@versita.com


Tauno Tats
Managing Director, Ambient Sound Investments
Skype: taunotats
tauno@asi.ee