The following is from BARRA's web site www.barra.com:
BARRA LAUNCHES INVESTMENT DATA PRODUCTS BUSINESS UNIT
BERKELEY, Calif., August 13, 1997-BARRA, Inc. (NASDAQ:BARZ) announced today the launch of a new Investment Data Products business unit that will develop and market a range of data and analytical services. These services will be delivered via three main distribution channels: the Internet, packaged software and third-party re-vending agreements. The target market will be investment professionals with particularly data-intensive needs.
Under the banner of this new business unit, BARRA will develop an Internet site that will act as a central point of online contact between BARRA and its clients. Some of the offerings initially planned for this service include interactive product support and equity risk model and bond data. Over time, BARRA plans to offer additional products and services via this Internet site such as news and quotes, valuation signals and money manager performance data.
"The formation of this new business unit allows us to adapt our strategies to a broader group of users. We expect that the Internet will enable easier access for our clients worldwide," said Robert Honeycutt, chief operating officer of BARRA.
Andrew Huddart, formerly a senior vice president with Reuters America, has accepted the position of senior vice president and business director for Investment Data Products at BARRA. Mr. Huddart had been with Reuters since 1983. Variously based in London, Milan, New York and San Francisco, Mr. Huddart was most recently Reuters head of product management for the Americas in New York. He will work out of BARRA's headquarters in Berkeley, California.
BARRA also plans to realign some of its existing efforts under this new business unit including Bond Express, InvestWorks, and relationships with Data Downlink Corporation and Quote.com. The first three efforts are delivery mechanisms for innovative, proprietary data services, and Quote.com is a leading provider of security quotes, market news and other financial information.
Investment Data Products will constitute a fourth major area of business for BARRA. Institutional analytics and consulting, electronic brokerage and asset management are the other three. Each statement contained in this news release containing any form of the words "plan", "will" or "expect" are forward-looking statements that may involve a number of risk factors and uncertainties. Among other factors that could cause actual results to differ materially are the following: significant delays or excessive costs associated with product research, development and/or introduction; changes in market conditions, business conditions and other changes in the company's industry; competitive factors such as rival products and price pressures both domestically and internationally; availability of adequate third-party data on reasonable terms and at reasonable prices. Further information on potential factors that could affect the company's financial results are included in the company's Form 10-K for the 1997 fiscal year filed with the Securities and Exchange Commission (SEC). Please refer to the company's SEC filings, copies of which are available from the company without charge for further information.
BARRA, founded in 1975, provides innovative analytical models, software, consulting and money management services that enable its clients worldwide to make superior investment and trading decisions. Based in Berkeley, Calif., BARRA also has offices in major financial centers throughout the world. Information on BARRA is also available online at barra.com. |
