Red Sheriff on the Expansion Path 17/11/00 Australian Internet research specialist Red Sheriff has successfully completed its third round of funding, raising over A$30 million from world-leading investment fund Deutsche European Partners, managed by UK-based Morgan Grenfell Private Equity Earlier this year, Red Sheriff announced a multi-million dollar strategic partnership with UK-based global communication services giant WPP Group. According to Red Sheriff CEO, Richard Webb, "This represents one of the largest private equity placements for an Australian technology company this year. Despite the doom and gloom that has dogged tech stocks these past months Red Sheriff is enjoying a record year, a testimony to the company’s highly successful business model that has delivered four-fold increases in company turnover, and global expansion of our world-leading e-metric services and technologies to over 20 countries in the past eight months". Webb added "Red Sheriff is one of the few Australian new economy e-companies to have successfully expanded its business on a truly global scale. We intend to employ funds raised from this round to substantially expand our product offering and continue our global expansion efforts with a move into the U.S. by the end of 2000". As part of the company’s US entrance strategy Red Sheriff will relocate its headquarters to New York. Morgan Grenfell Private Equity is a leading European private equity firm with funds under management of US$2.5 billion. According to Scott Lanphere, Director, "Our strategy is to acquire stakes in high quality companies with strong growth potential. Already a market leader in its domestic market, with its leading edge technological advantage we believe Red Sheriff is capable of domination on a global basis and we are delighted to have the opportunity to lead this round of financing".