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Market Insite Group Merges With French Powerhouse Asterop

Posted on: Wednesday, 6 July 2005, 12:00 CDT

MILL VALLEY, Calif., July 6 /PRNewswire/ -- Kathryn A. Huber, President and CEO of Market Insite Group (formerly Location-net), announced today the merger of the California-based business with France's Asterop SA, the leading European provider of GeoIntelligence(TM).

The new company, Asterop Inc., creates a powerful decision-making solution for market analysis. Initially, Asterop, Inc. will offer advanced business intelligence tools to the retail, real estate and banking industries, with offerings for the insurance, consumer products and automotive industries to soon follow.

Since the launch of its Web product in 2001, Market Insite Group has been at the leading edge of online location intelligence. Known for its innovative online analytical solutions, including its patent-pending benchmark scoring system, Market Insite Group offered a key leverage point for Asterop's U.S. expansion. The merger with Asterop also provides Market Insite Group with an expanded technological and scientific foundation, including advanced business intelligence analysis tools and new technology platforms that will allow Market Insite Group to more rapidly expand its product offerings to meet the needs of its customers.

According to Huber, "This merger will provide Market Insite Group's customers with advanced business intelligence technologies not previously available in the United States. The Asterop product is ideally suited to the next stage of our development as their technologies and products provide our customers with the ability to instantly recognize voids in the marketplace for stores, optimal merchandise offerings and under-penetrated business. Additionally, we are excited about the opportunity to provide a single platform for our customers' business intelligence and decision-making needs throughout the world."

As Asterop's first entry in the United States, Market Insite Group's powerful analytical tools, solid reputation and renowned customer list provided an ideal opportunity for Asterop's growth as they continue their international development strategy to become the world's largest provider of analytical technologies applied for strategic marketing purposes.

Christophe Girardier, CEO of Asterop stated, "The union with Market Insite Group marks an important stage in the implementation of Asterop's global strategy. After our development in the European and Japanese markets, the U.S. market was essential for Asterop to establish itself as a worldwide player in the market of analytical and predictive business solutions. Market Insite Group, with its success, recognition, innovative Web-based solutions and on-staff team of experts in the retail and real estate sector offered Asterop a great opportunity to establish a new decision-making standard for businesses in the U.S. market."

Market Insite Group's success in conducting business on the Internet also offers the newly formed Asterop, Inc. a distinct advantage in the development of its Web-based solutions. This fall, the company anticipates launching in France the identical services that are available currently through Market Insite Group in the U.S.

Capitalizing on the success and expertise of Market Insite Group, Asterop, Inc. will first leverage its technology to the retail real estate industry, where both property owners and retailers alike will benefit from the easy integration with client-specific data sources. In the coming months, the company is set to launch its network planning tool which enables market optimization for both stores and merchandise assortments, with additional new products to soon be announced. The extension of these analytical products into other businesses is a large part of the Asterop, Inc. strategy.

For more information about Market Insite Group, visit http://www.marketinsitegroup.com/. For more information about Asterop, visit http://www.asterop.com/. A new Web site reflecting the merger will soon be launched.

About Market Insite Group

Market Insite Group provides technology-based products and consulting services to optimize location and market opportunities, mitigate risk and maximize revenue for businesses. The Company's initial focus is the retail real estate industry. Market Insite Group's proprietary scoring system, which is patent pending, provides a correlation of market characteristics between a business and its target customer, reducing the risk in the real estate decision-making process. Market Insite Group's customers include such blue chip companies as Apple, Ann Taylor, Chico's, Crate & Barrel, Gymboree, Men's Wearhouse, The Macerich Company, The Mills Corporation and Jones Lang LaSalle. For additional information, visit http://www.marketinsitegroup.com/.

About Asterop

Founded in 1999, Asterop SA, creator of advanced GeoIntelligence(TM) technologies, enables companies to refine their development strategies and optimize their operational activities through an objective analytic approach. Asterop has made a name for itself in the European and Japanese markets as a major proponent of applied analytical solutions for strategic marketing, and currently occupies a leading position in its field. Customers include some of the most well known companies in Europe, such as Pinault Printemps Group, Galeries Lafayette Group, Monoprix, Intermarche, Domino's Pizza, BNP Paribas, Peugeot and National Rent a Car. In 2005, Asterop received the 1str Trophy for Digital Economics during this year's Exhibition of Entrepreneurs. Asterop has raised 14 million euros from such benchmark investors such as Accenture, Air Liquide Ventures and Turenne Capital who have invested to fund its ambitious international development strategy to become the leader in business intelligence. For additional information, visit http://www.asterop.com/.

Market Insite Group

CONTACT: Stacy Thal, +1-415-543-3476, or stacy-t@pacbell.net, for MarketInsite Group

Web site: http://www.asterop.com/

Web site: http://www.marketinsitegroup.com/

Source: PRNewswire

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