Copernic Creates Coveo Solutions Inc., to Meet Growing Demand for Secure, Cost-effective Enterprise Search Solutions
New Company to Leverage Installed Base of 3,000 organizations;
Mr. Laurent Simoneau appointed President and CEO of the new company
Palo Alto, California. Quebec, Canada. October 26, 2004- Copernic Technologies Inc., recognized as a leading provider of consumer-based information management solutions, today announced the creation of a new separate company, Coveo Solutions Inc. The company will focus exclusively on providing easy-to-use, powerful and secure enterprise search software to businesses, organizations and government entities.
The creation of Coveo is in response to overwhelming market demand for its flagship product, Coveo Enterprise Search (CES), formerly known as Copernic Enterprise Search. Currently, CES is being used by more than 3,000 businesses worldwide. These businesses and organizations require robust document-level security, low total cost of ownership, and superior relevance with one, unified approach from the desktop, across the enterprise and the Internet.
"Copernic is pleased to have seen tremendous success and growing demand for both its consumer and enterprise products. Based on the differing needs of each audience, we felt it was imperative that we align strategically to effectively address these distinct market opportunities" said Martin Bouchard, Chairman of Copernic. "Copernic will continue to focus on the consumer market and Coveo is the answer for the enterprise."
Coveo will leverage its seasoned search specialists and R & D staff to quickly react to growing market expectations and to drive innovation for the core enterprise search solutions. By streamlining operations and focusing exclusively on enterprise search solutions, Coveo will develop and market the most precise, secure and cost effective search software to ensure that customer's needs are met.
According to a recent IDC Technology Assessment Report, CES is in a position to disrupt the current search market because of its favorable price point, rich set of features and short implementation time.
Laurent Simoneau, formerly COO at Copernic Technologies, Inc. has been appointed President and CEO of the newly formed company. A 10-year search industry veteran, Simoneau was deeply involved in every milestone of Copernic Technologies. Other executive appointments are Eric Negler, VP Sales; Richard Tessier, VP Products; and Marc Sanfacon, VP Technologies. Martin Bouchard will serve as Chairman, David Burns will continue to lead Copernic Technologies as CEO.
Coveo Solutions Inc. has corporate offices located in Quebec and Montreal, Canada and Palo Alto, California.
For more information about Coveo Solutions Inc., or their enterprise search solutions, visit www.coveo.comor call toll-free 1-800-635-5476 US and Canada; +800-2673-7642 Europe, Australia, New Zealand; and 011-418-266-6195 Internationally.
About Coveo Solutions Inc.
Coveo develops and sells enterprise search software that allows all individuals within an organization to access and integrate multiple collections of data with one unified view, providing tangible productivity enhancements and ROI. By combining content from the desktop, the intranet and the Internet, with one integrated tool, data is quickly and easily located. With unmatched relevance and true out-of-the-box security, over 3,000 businesses and organizations worldwide benefit from Coveo Enterprise Search through increased revenue, greatly improved productivity and compliance with regulatory mandates. Customers include AAA Automotive, Credit Lyonnais, Hewlett Packard and Spectra Physics. For more information, visit www.coveo.com.