The Mole Press Release - US Market Entry

Hyperbolex expands into the US Market

Wellington, New Zealand, Oct. 1, 2003 Hyperbolex Limited, a leading provider of knowledge management software, today announced that it has expanded distribution of its leading information intelligence application, The Mole™, into the US market. Hyperbolex’s new office, located in Austin, Texas will provide US sales, marketing and customer support.

Hyperbolex executives said Austin was chosen as the location for their US corporate office after assessing a variety of options. Chief Operating Officer, Liz Swanston, said “the strong base of technical talent, central US location, and the large number of customers in the immediate region made Austin the logical choice for us.”

While The Mole can be used by almost any type of organization that needs to find information quickly, Hyperbolex is focusing its initial marketing efforts on the legal and government sectors. “We’ve been very successful at solving some major challenges faced by law firms and government agencies in the Asia/Pacific region so we felt that it made sense to carry our experience in these sectors into the US market, said Ted Thomas, CEO of Hyperbolex. In addition, market research conducted by strategic marketing firm, ThisQuarter, validated a significant need in these markets. “Clearly, the legal and government sectors face one of the greatest challenges in managing huge amounts of information,” says Rob McEwen, ThisQuarter Partner.

Hyperbolex will sell The Mole Enterprise Edition exclusively through business partners. The company has built a strong distribution channel in other regions and has a great deal of experience in supporting partners. “We are committed to finding the best US business partners to ensure that US customers get world-class implementation and support,” said Liz Swanston. “Our strategy is to focus internal resources on research & development, and marketing & channel support, and establish relationships with leading service organizations that can handle sales, implementation and first-level support,” Swanston said. Hyperbolex has hired a US-based enterprise software veteran to develop and manage its partnerships and provide local support to partners.

Hyperbolex said it has already made significant progress in acquiring US business partners and customers. “We’re encouraged by the initial response from US customers and partners and expect to make significant progress over the next 12 months,” said Ted Thomas.

About Hyperbolex

Hyperbolex develops and licenses content intelligence technologies The Mole used in the discovery of information from unstructured data sources. The Mole uses a powerful (international patent pending) content analysis technology to provide abstracts of information based on a user's area of interest. The Mole's unique ability to unlock the value within unstructured data and automate processes around this information differentiates it from its competitors.