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httprint receives $12 million in new financing; acquires Publishers Market

Jun 18, 2002 12:00 AM

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httprint (San Francisco) has secured $12 million in new financing. The financing is led by Investcorp SA, a leading venture capital investor, and Bertelsmann Capital Ventures, the exclusive corporate venture unit of Bertelsmann AG, one of the world's largest media companies and purchasers of print and related services.

In a related move, httprint has acquired Publishers Market AG (Munich, Germany), a firm that specializes in Web-enabled print advertising workflow solutions. The terms of the acquisition were not disclosed.

Mark Porter, President and CEO of httprint, said the new capital will be used for expansion of company operations in New York and Germany, further development of the company's next-generation software, as well as enhanced service to current and prospective httprint clients.

Porter said the Publishers Market acquisition dramatically expands httprint's service capability in Germany. Rainer Heckman, formerly CEO of Publishers Market, has been named Managing Director of httprint's expanded German operations.