Wednesday May 13, 6:27 pm Eastern Time
Company Press Release
Information Technology Services Leaders Speak At Adams, Harkness &
Hill Investment Conference
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 13, 1998--Approximately 400 mutual fund managers and other buyside
investment professionals heard presentations from leading companies in the booming Information Technology Services industry
today on the opening day of a two-day conference sponsored by investment banker Adams, Harkness & Hill, Inc.
The IT Services industry, which provides professional, computer software and other strategic information services to
businesses, has attracted Wall Street's attention with several years of robust growth. Mark D'Annolfo, head of Adams,
Harkness & Hill's Information Technology Services Research Group, says the outlook for the industry remains strong.
''This is the golden age for IT Services providers,'' D'Annolfo said. ''The same things that are driving growth today - rapid
technological change, a growing strategic role for IT and an increase in outsourcing - should continue into the future. Right now,
demand seems almost limitless.''
Much of that expansion will be connected to the Internet, as companies seek guidance on maximizing electronic commerce and
other Web-based solutions. ''Industry analysts project 60 percent annual growth in Web services over the next five years, and
that's consistent with what we're seeing in our business,'' said Jerry A. Greenberg, co-chairman and co-chief executive of
Cambridge-based Sapient Corporation [Nasdaq:SAPE - news], which has grown to more than 900 employees since it was
founded in 1991. ''Web services is a major component of our business because of the fundamental impact it is having on our
clients.''
The investment community's recognition of Adams, Harkness & Hill's expertise in the field has spurred a substantial increase in
attendance at the second annual IT Services Conference. Thirty-four publicly traded and private companies made
presentations.
''I love the Adams, Harkness & Hill conference because it puts the right investors in front of our companies,'' said G. Drew
Conway, president and chief executive officer of Renaissance Worldwide, Inc. ''You get fund managers who understand our
industry in one place for a couple of days, and that provides both sides with an opportunity to learn.''
Newton-based Renaissance Worldwide, which emerged in January from the combination of The Registry, Renaissance
Partners and The Hunter Group, now has more than 5,000 employees.
Many of the companies are based in the Northeast, a point not lost on James K. Sims, president and chief executive officer of
Cambridge Technology Partners [Nasdaq:CATP - news], Inc., which Sims projects will reach revenues of $600 million in
1998. ''IT Services companies are fundamentally starting on the East Coast, primarily because of the educational institutions
here,'' Sims said. ''The West Coast has done a magnificent job with high tech. For IT professional services and management
consulting, though, I think the East Coast is going to dominate.''
Adams, Harkness & Hill serves as an investment banker to emerging growth companies and provides sector-specific,
comprehensive research to leading buyside institutions. Located in Boston, the firm provides a full range of integrated
capabilities which include research, investment banking, securities trading and investment management. The company's research
team actively follows more than 150 emerging growth companies, providing qualitative, objective and in-depth analysis to more
than 500 institutional investors across the United States, including mutual fund companies, insurance companies and banks.
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