Following Intervid's announcement in March this year, of a US$50 million convertible loan for its international expansion, the company has embarked on a strategic global expansion drive that will provide it with a footprint in major markets worldwide.
Intervid has made significant progress towards establishing international structures in geographic locations where significant potential for its products and technology exist. The primary international targets at this time are the USA, UK, Europe, Australia, Africa and the Middle East. The company also recently announced the acquisition of SecurData Systems Inc, a Washington DC-based company, whose major clients include Time Warner and America On-Line.
In order to control this expansion, Intervid is reorganising its management structure. International headquarters will remain at its office in Kloof, under the direction of CEO, Rob Howard, MD, Rob le Sueur, and CFO, Keith Pitout. Newly-appointed head of the local operation, Iain Foxon, will run the South African business from Intervid's offices in Midrand.
The expanded Research and Development division is relocating to Umhlanga Ridge.
For further details contact Intervid on tel: (031) 764 9700.
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