RealTime IT News

Italian and US Incubators Merge for Global Presence

[Florence, ITALY] Italian Internet incubator, NetStrategy and the Los Angeles-based accelerator NetCatalyst, announced a merger that, according to management, will fulfill the global expansion visions of each company.

"With a physical presence in the United States, in Europe and in Asia," said Niccolo Innocenti, managing director of NetStrategy, who will become CEO-Europe for the new company, "and because our management has experience at the highest levels, we will be able to ensure global contacts with the leading players in the market, providing greater opportunities for international IPO, mergers and acquisitions."

Thanks to the merger, NetStrategy will consolidate its international role, becoming the European headquarters for the new company. Its management responsibility will incorporate not only Italy, but also branch offices already established throughout the continent.

"Our goal is international," explained Ron Posner, Chairman of NetCatalyst and future Chairman of the new company. "We are moving quickly and we would like to become in every way the first global reference network for the New Economy. The merger with NetStrategy and our [recent] partnership with Mindship are fundamental strategic moves to reach our goal."

NetCatalyst's partnership with London's Mindship will provide the new company with a working office in London as well as its first outlet into the Asian market, thanks to Mindship's Singapore branch.

Inasmuch as the merger agreement was sought and approved wholeheartedly by the management of NetStrategy and NetCatalyst, it is still subject to the approval of the member assembly of each company. The new company, while being based in Europe, will take the name NetCatalyst.