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The investment in BCB by the FLV Fund is good news for at least three reasons. The obvious one is that it provides us with immediate working capital to go forward with our plan and, if we execute well, there will be additional capital to draw on in the future. In that sense we have found a strong financial partner (FLV currently has US$60 million under management, are raising another US$62.5 million and, with other investment, expect to have more than US$200 million under management within 12 months). More important, by taking a stake in us, FLV validates the value of our current technology and the potential of our future prospects. By their own charter, FLV is highly focused and invests only in companies at the cutting edge of speech and language technology. As mentioned in the news release, they also offer value-added services that include linking these leading-edge companies together and helping broker strategic alliances. They offer a means to source market information, talent and third-party tools and technology. Finally, it also helps that the industry leader, Microsoft, has an active stake in FLV. That, by itself, can open doors to new opportunities and markets. The bottom line is that BCB's relationship with FLV will be strategic in addition to economic. That helps put us where we can see future developments clearly, giving us an inside track on developing and selling products that are in harmony with new market demand and standards. Accurate anticipation of future trends, combined with relationships that let you harvest them, offer a major advantage to a young company such as BCB. For these reasons, the deal is more significant than just the investment. |
