Hoover's Takes Initiative in Europe
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[May 24] Business information provider Hoover's, Inc. announced a European initiative Wednesday, opening London-based subsidiary Hoover's Online Europe Limited, appointing a European managing director, and launching hoovers.co.uk.
Heading Hoover's in Europe is Gehan Talwatte, described by Chief Executive Patrick Spain as a seasoned executive from the business information and research industry. Talwatte ran Dun & Bradstreet's e-commerce business in Europe before founding the new D&B unit eccelerate.com.
"Hoover's is establishing a major presence in Europe to address an economy as large as the U.S.'s, but with an additional 100 million potential customers," said Talwatte.
Although it is just the first in a series of overseas moves planned by Hoover's Online, the European operation is clearly of major importance to the company. According to predictions by Forrester Research, the European business market for e-commerce will expand to $1.6 trillion by 2004.
With its third-party content and tools, and proprietary content from Hoover's Online, hoovers.co.uk should prove to be a popular resource for U.K. businesses -- and for companies that want to trade with the U.K. Its total coverage looks at more than 50,000 enterprises worldwide.
Patrick Spain said the European initiative enabled Hoover's to plant the flag as the 'global' portal for business people.
"As part of our international growth initiative, we will continue to target every major region in Europe where we see an opportunity for the Internet to make business people more productive," said Spain.
Investors in Hoover's include Time Warner, Media General, NBC, Knowledge Universe, and Nextera Enterprises.