ProQuest’s Subscriber Growth Requires Additional Nstein TME Licenses
UK news aggregator relies on Nstein’s text mining to categorize 300,000 of scholarly assets weekly.
MONTREAL, May 26, 2009– Nstein Technologies Inc., www.nstein.com (TSX-V: EIN), a leader in digital publishing solutions for newspapers, magazines, and online content providers, announced today that ProQuest has purchased additional licenses of Nstein’s TME (Text Mining Engine) modules to keep up with subscriber demand.
ProQuest, a division of the Cambridge Information Group, provides access to more than 125 billion digital pages of scholarly content in the areas of arts and literature, science, technology and medicine. For the past five years, the company has been relying on Nstein’s TME (Text Mining Engine) to organize, categorize and write abstracts for a growing body of news, dissertations and papers. Prior to that, the company relied on a team of 80 indexers to write abstracts and tag. Nstein allows the automation of these tasks.
“We eliminated the human capital and used the savings to reinvest in more added-value to our products,” explained John Taylor, Vice President of Product Development and Technology for ProQuest. “We created a stronger taxonomy which allowed us to increase the amount of content we aggregated from 700 journals to now nearly treble that, and increase the depth of classification.”
“The increase in assets along with the deep levels of classifications, have strengthened ProQuest’s ties to the research community as evidenced by the fact that ProQuests has continued to grow its subscriber base, which is highy impressive in this economy,” said Luc Filiatreault, Chief Executive Officer of Nstein Technologies. “We are proud of Nstein’s role in assisting ProQuest continue its dominance in the market.”
Nstein Technologies is the online provider of choice for many of the world’s leading media companies, including: Financial Times, Cedrom-SNI, Hearst Newspapers, Reed Business Information, Scripps Network, Bonnier Corporation and Transcontinental Media.
About Nstein Technologies Inc.
Nstein Technologies (TSX-V: EIN) develops and markets multilingual solutions that power digital publishing for the most prestigious newspapers, magazines, and content-driven organizations. Nstein’s solutions generate new revenue opportunities and reduce operational costs by enabling the centralization, management and automated indexing of digital assets. Nstein partners with clients to design a complete online strategy for success using publishing industry best practices for the implementation of its Web Content Management, Digital Asset Management, Text Mining Engine and Picture Management Desk products. www.nstein.com
- The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
- The financial value of the contract, on an individual basis, is not financially material to the affairs of Nstein Technologies Inc. The specific financial terms of the contracts can not be disclosed since knowledge of these transaction terms could represent a significant loss of competitive advantage to the Company as competitors would gain access to its pricing model. The Company believes that the disclosure of agreements by means of a press release is necessary to demonstrate the ability of the Company’s technology to meet the requirements of its potential clients in the publishing, media and entertainment industries. Further, the completion of these types of agreements demonstrates the ongoing ability of the Company to capture an increasing share of this market and generate market acceptance for its products. The software license revenues resulting from this contract will be included in the Company’s fourth quarter results (quarter ending December 31, 2008).
- Any statement that appears prospective shall not be interpreted as such.
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For more information:
Nstein Technologies Inc.:
Investor Relations
Bruno Martel
Chief Financial Officer
Nstein Technologies Inc.
Tel: 514-908-5406
Media
David Crouy
Marketing Director
Nstein Technologies, Inc
Tel: 514-908-5406
News Source : ProQuest’s Subscriber Growth Requires Additional Nstein TME Licenses
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