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| HITEC, LOS ANGELES, June 17 - Integrated Decisions and Systems, Inc.
(IDeaS), the emerging leader in hospitality industry revenue and yield
management decision systems, has completed its second round of venture
capital financing.
The $8 million investment was led by Morgan Stanley Venture Partners, the venture capital affiliate of Morgan Stanley Dean Witter & Co. (NYSE: MWD), and brings IDeaS' total venture funding to $12 million. Additional investors in this round included California based Sutter Hill Ventures and Minnesota based St. Paul Venture Capital, each of which had also participated in the original $4 million round of financing in February of 1997. "This funding represents a strong endorsement of our decision systems technology and provides us with increased capacity to respond to the rapidly growing demand we are experiencing from the marketplace as well as to further expand our research and development activities," said Richard Arnold, President and Chief Executive Officer of IDeaS. "Morgan Stanley is a world class organization, and we are proud to welcome them as members of our team." "We have significant previous investment experience in the hospitality technology sector," stated Bob Loarie, General Partner of Morgan Stanley Venture Partners. "Our knowledge of IDeaS and the needs of hoteliers lead us to be very excited about this company's ability to create dramatic value for their clients in the hospitality industry." About Morgan Stanley Venture Partners Morgan Stanley Venture Partners (www.msvp.com), manages a group of funds that invest in later stage, high growth companies with a principal focus on information technology. Since 1986, MSVP has invested in over $300 million in 72 emerging growth companies. About IDeaS IDeaS, Inc., guarantees that hotels and resorts, which implement the company�s yield management solution, will realize at least 4% or more in measurable increases in transient room revenues. The company�s approach also enables effective group evaluation and placement. Its technology, processes and procedures are 100% dedicated to the hospitality industry. The four-part IDeaS Yield Management Solution, which features the IDeaL/YIELD system, accommodates the best mix of guest booking demands and stays that will maximize the total revenue of the hotel or resort. IDeaL/YIELD integrates a unique business model for the hotel or resort into the automated controls for rate, length-of-stay and overbooking. It delivers automated decisions 24 hours a day, 365 days a year, and demand forecasts are updated by way of a seamless 2-way interface. IDeaL/START is the first step to delivering a solution to hotelier clients, when in-depth data gathering and analysis take place to build a solution according to the property�s uniqueness. After the solution is implemented, IDeaL/CARE provides proactive on-line monitoring, which helps the property continue to receive maximum system benefits. Results from the yield management solution are proven through the IDeaL/RESULTS scientific measurement approach. Integrated Decisions and Systems, Inc., (www.decider.com) is a leading, global decision systems company, developing and marketing sophisticated revenue enhancement solutions exclusively for the hospitality industry. With its corporate headquarters in Minnesota, USA, IDeaS also maintains sales and support offices in London, Singapore, Sydney, and San Francisco, CA. For further information on IDeaS products, contact Karl Freund, VP Marketing at (612) 905-3200 or via e-mail at [email protected]. |
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