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Weekly News Digest

July 16, 2001 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today. For other up-to-the-minute news, check out ITI’s Twitter account: @ITINewsBreaks.

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LexisNexis, Reed Elsevier Ventures Invest in iPhrase Technologies

LexisNexis (http://www.lexisnexis.com) and the venture-capital fund of its parent company Reed Elsevier have invested $8 million in Cambridge, Massachusetts-based iPhrase Technologies, Inc. (http://www.iphrase.com), a start-up firm providing enterprise information access software. While the companies say it's too soon to disclose plans, they expect later this year to launch iPhrase-powered systems to simplify searching the 200 trillion bytes of information owned by Reed Elsevier units.

"This investment is another move in our continuing efforts to make our content easily accessible by customers," said Bill Pardue, CEO of LexisNexis' Corporate and Federal Markets business. "iPhrase is an enterprise-class solution—exactly the market we are serving with our LexisNexis Customized eSolutions."

iPhrase offers intuitive access to electronic databases based on a combination of language understanding, information retrieval, and user-interaction algorithms. Its patent-pending One Step platform enables users to search Web sites and large databases through simple English-language queries and obtain a customized response in one step. iPhrase draws heavily on natural language database search technology developed at the Massachusetts Institute of Technology computer science labs.

Reed Elsevier launched a $100 million venture-capital fund earlier this year with the intention of investing in late-stage and pre-IPO companies. Reed Elsevier executives said the ventures are meant to help multiple Reed Elsevier divisions open the door to new technologies, products, services, or customers.

Source: LexisNexis



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