IS.Teledata AG Opens New Office in Spain

MADRID - IS.Teledata Iberia, S.L. has found a new office in Madrid. The rental agreement was signed a fews days ago. The subsidiary will start to move to the new quarters in two to three weeks.

The new office will enhance IS.Teledata's customer service and enforce its expansion in the Iberian market. "Expanding our business activities to the Spanish capital follows logically from our successful sales partnership with Standard & Poor's in Spain and Portugal," says Stephan Wolf, spokesman of the executive board of IS.Teledata AG.

Standard & Poor's and IS.Teledata AG have joined forces in early 2001 to supply financial service providers and media corporations on the Iberian region with market data, financial information systems and IT services. In the meantime, the cooperation has gathered a healthy portfolio of renowned major banks and online brokers. A round dozen customers of Standard & Poor's have since opted for solutions "implemented and powered by IS.Teledata AG".

By opening an office in Madrid's downtown district, IS.Teledata Iberia, S.L. underscores its commitment to be close to its customers. Starting in June, account managers, project managers and software developers will work together with the sales team of Standard & Poor's in close proximity to the peninsula's major banks. The organisation thus takes into account the increasing workload in the Spanish business as well as the growing demands of business customers for individual service, minimum reaction times and fast communication.

"Over the last three years, the Spanish market has rapidly gained significance for IS.Teledata AG. We are committed to generating half of the corporate turnover outside of Germany. And in our growth strategy, the Spanish market plays a pivotal role," explains Wolf.