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To: Sarmad Y. Hermiz who wrote (52830)	4/27/1999 8:50:00 AM
From: Glenn D. Rudolph	Respond to of 164687

Hewlett-Packard, Reuters invest in Northern Light CAMBRIDGE, Mass., April 26 (Reuters) - Northern Light Technology LLC said Monday Hewlett-Packard Co. <HWP.N> and Reuters Group Plc <RTR.L> were leading a $35 million investment in the company, which has developed what it describes as the world's first information "research engine." Cambridge, Mass.-based Northern Light said Hewlett-Packard, the world's No. 2 computer maker by revenue, and Reuters, the world's largest financial information provider, would each name a member to the Northern Light board. The two investors are expecting to work with Northern Light to develop new information products. The company said its research engine provides access to information from a wide range of sources by combining the reach of the world's largest Web search engine with access to more than 5,400 full-text sources previously unavailable except to users of commercial online services. With the fresh financing, Northern Light said it has raised a total of $50 million in equity finance since it was founded in 1996. Northern Light declined to discuss further details of the investment. The company said it would work with HP to incorporate HP's Internet printing technology and personal publishing software into its service, providing users with desktop publishing quality from Web documents. John Taysom, director of new business development for Reuters, said, "We expect Northern Light Technology will enable us to build industry-focused information products that are vertical portals." Taysom, who heads Reuters' Greenhouse Program, will join Northern Light's board. The Greenhouse Program allows Reuters to make strategic investments in new technology, enabling the company to learn about the technology and any applications it might have for Reuters, spokesman Robert Crooke said. Times Mirror Co. <TMC.N>, publisher of the Los Angeles Times newspaper, also contributed to the second round of financing, the company said. Others that contributed were Leonard Riggio, the chairman and chief executive of Barnes and Noble Inc.; Andrew McKelvey, chief executive of TMP Worldwide <TMPW.O>, which owns the leading online career site, Monster.com; and Jon Moynihan, executive chairman of PA Consulting Group, an international management consulting firm. Also included were two groups of investors organized by ZA Associates of Morristown, N.J.; and Adam Smith and Co. ZA Associates, led by managing partners Robert Agriogianis and Michael Zaroff, included Gregory Whitten, formerly chief architect of language and office applications for Microsoft Corp. <MSFT.O>. Credit Suisse First Boston acted as adviser and placement agent to Northern Light in the transaction.