Joint Venture

1 Aug 2007 07:00

Cheerful Scout PLC01 August 2007 Cheerful Scout Plc / Epic: CLS / Index: AIM / Sector: Media 1 August 2007 Cheerful Scout Plc ('Cheerful' or 'the Company') Joint Venture Cheerful Scout Plc, the AIM-traded multi media specialist, has formed a newcompany, Business Data Interactive ('BDI'), in a joint venture with Apperly &Associates Limited ('A&A'), to take advantage of opportunities in thefast-growing Business Intelligence market. By combining both companies'technology and skills, BDI will provide powerful, fully-integrated computersoftware programmes to analyse and display business data. Under the terms of the agreement, Cheerful, which will own 60% of BDI, willinvest £200k and licence the intellectual property ('IP') for its proprietaryvisualisation software package, nVision Strategy, to the new business. Thissoftware converts business data into real-time, 3D video graphics. A&A willlicence the IP for its own Business Intelligence Engine to the new businessbringing sophisticated analytics and advanced data mining capabilities to theproduct offering. The combined Business Intelligence package will enable clientsto visualise their data and conduct analysis in an engaging, interactiveenvironment, ultimately delivering strategic insight and driving bettermanagement decision making. Dr James Apperly, founder of A&A, will become Managing Director of BDI. DrApperly, an Oxford graduate with a PhD in Neuroscience, established A&A in 2003and has since worked with a number of blue-chip companies including BP andChevron-Texaco US designing and implementing business intelligence systems. Hepreviously worked at leading management consultancy, McKinsey & Company, wherehe advised international companies on issues of strategy, organisation,technology and operations. Stuart Appleton, Cheerful's Chairman said, "The Business Intelligence market ismaturing rapidly as companies understand the need for leading edge dynamicmarket analysis in order to identify trends and consider their responses aheadof competitors. Our combined creative talent and technological know-how, intandem with a deep understanding of the needs of business communications willenable BDI to deliver powerful, highly sophisticated, bespoke products to thismarket, unlike any other currently available. "Dr Apperly, who will front the business, has considerable experience andexcellent contacts in the corporate arena. He will be a great asset to thebusiness so we are delighted to have him on the team." * * ENDS * * For further information visit www.cheerfulscout.com or contact: Gary Fitzpatrick Cheerful Tel: 020 7291 0444Isabel Crossley St Brides Media Tel: 020 7242 4477Mark Percy Seymour Pierce Ltd Tel: 020 7107 8030 Notes Cheerful Scout is an award-winning multidisciplinary creative consultancyspecialising in devising and delivering effective and original corporatecommunication solutions. Its three key areas of expertise are DVD, Productionand Events. Whilst its thriving DVD department creates impressive titles for the corporateand retail markets, Cheerful Scout's production team conceives and producesunique and engaging film and video for a wide range of blue chip corporationsand organisations. The Company also stages live events and conferences for itsclients and is able to develop previously impossible concepts and formulas usingits revolutionary presentation and visualisation system, nVision(www.nvisiontec.com). This information is provided by RNS The company news service from the London Stock Exchange