Mantas expands global presence to deliver comprehensive behavior detection technology to the financial services industry
MANTAS EXPANDS GLOBAL PRESENCE TO DELIVER COMPREHENSIVE BEHAVIOR DETECTION TECHNOLOGY TO THE FINANCIAL SERVICES INDUSTRY Names Darren Innes General Manager of Sales, Forms Global Sales Team and Establishes Headquarters in the UK Fairfax, VA and London - May 30, 2002 - Mantas, Inc., a leading provider of behavior detection technology for the financial services industry, today announced global expansion of business operations to service the significant market interest outside North America for Mantas' products. Mantas has named Darren Innes director of sales for Europe, the Middle East and Africa. Innes will lead Mantas' international expansion and its European-based global sales team. With a significant and established customer base in the United States, Mantas currently enables some of the world's largest financial institutions to safeguard against money laundering and fraud while increasing compliance, best execution and surveillance. "We continue our momentum and focus on understanding the global marketplace, as well as the financial services industry and its needs," said Simon Moss, CEO of Mantas. "As the international regulatory landscape continues to change, there is an unparalleled opportunity to truly make a difference by bringing value-added services to the financial services industry. We are confident Darren and his team are a perfect addition, and their extensive experience will enable Mantas to increase business opportunities and further commit to important international markets." Innes joins Mantas from Izodia.com, an e-business software solutions provider, where he most recently served as a head of the finance practice in London. Prior to joining Izodia.com, Innes was the global head of alliances at FNX Limited, a company that provides distributed STP solutions to the international financial community. Before joining FNX, Innes held positions at Huthwaite International and Barclays Financial Services. Innes also served for nine years as a sergeant in the British Army. "Mantas' continued focus on international expansion comes at a time when our services have become essential for the financial community. We have over a decade's worth of technological experience and an incredible industry knowledge base. Our intellectual capital, increased global presence, and strong balance sheet will enable us to continue to deliver an incredible value proposition to the financial services industry, just as we have in North America" said Innes. Mantas' expansion to Europe is the most recent of several milestones the company has reached over the last several months. These include the introduction of Simon Moss as the company's first CEO, the completion of a $17.5 million round of funding from Safeguard Scientifics, and the addition of Citigroup and Charles Schwab to Mantas' client roster. About Mantas: Mantas is a leading provider of behavior-detection software solutions for the financial services industry. Backed by a powerful combination of sophisticated technology and industry expertise, Mantas boasts some of the most effective tools that banks and brokerages need to combat money laundering, fraud and suspicious trading activity. Mantas products enable firms to reduce risk, improve internal efficiencies, and ensure regulatory compliance. The company empowers some of the world's largest financial institutions, including Merrill Lynch, Charles Schwab, the National Association of Securities Dealers (NASD), and other leading banks and brokerages. Mantas is a Safeguard Scientifics Inc. (NYSE:SFE) partner company and is backed by SRA International, Inc., an information technology firm with decades of experience. For more information, please visit www.mantas.com. Mantas Ltd's new UK headquarters is located on: Aston Court 1st Floor Frederick Place Kingsmead Business Park HIGH WYCOMBE Buckinghamshire HP11 1LA United Kingdom Telephone: 44-1494-061-6035 # # # Contact: Peter Scaramanga/Lucy Colman Euro RSCG Biss Lancaster 011-44-207-539-2623 peter.scaramanga@bisslancaster.com lucy.colman@bisslancaster.com Frances Del Valle Euro RSCG Middleberg (212) 699-2755 fran@middleberg.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/30/20020530BIT01550/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/30/20020530BIT01550/wkr0002.pdf