Giga Information Group Expands in Europe 13/09/00 The French operation of the Giga Information Group has received an investment of approximately US$4 million from seven leading European venture investment firms to create GigaGroup SA. GigaGroup will provide IT and e-Business research, analysis and consulting in Belgium, France, Italy, Luxembourg, Netherlands, Portugal, Spain and Switzerland. The company also plans to open offices in Brussels, Lisbon, Madrid and Zurich to supplement its headquarters in Paris and two existing offices in Amsterdam and Milan. The seven investors are Pre IPO.net (launched by Banque du Louvre), BNP PARIBAS, CIME, ING, Natexis (Banques Populaires), Siparex and Trinova. Giga Information Group will own less than 20% of the new venture. As a result, Giga Information Group will no longer consolidate the results of its French operations in its financial statements. According to Robert K. Weiler, Chairman and CEO of Giga Information Group, "International growth is a major element of our strategy, and this new venture allows us to accelerate these expansion plans. We also plan to expand our operations in Germany, the United Kingdom and Scandinavia, which offer great opportunities for growth. Our focus is to help our clients make local as well as global strategic IT and e-Business decisions as the high-tech, global economy continues to evolve and adapt to different countries and regions." Bruno Tourme, who headed Giga Information Group's European, Middle Eastern and African operations, has been named chairman and CEO of GigaGroup. "The combination of GigaGroup's in-depth local understanding and expertise plus the depth and breadth of Giga Information Group's research make us unique in this industry," added Tourme.