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BriTay
International Signs Letter of Engagement With DragonVenture
Inc., a Silicon Valley Venture Capital Consulting Firm
Beijing,
China, April 12, 2002 -HR Consulting and solutions provider,
BriTay International Inc. announced today that it has signed
a Letter of Engagement with DragonVenture Inc., a premier
Cross-Pacific venture capital, consulting and merger and acquisition
(M&A) company. Under this agreement, DragonVenture, based
in Palo Alto, California with an office in Beijing will be
engaged by BriTay to solicit proposals from both individual
and institutional investors, as well as business entities
interested in acquiring an equity position in the company
and its China-based business operations.
"We
are very pleased to enter into this agreement naming DragonVenture
as our venture capital consultant." Said Don Carter,
President and CEO of BriTay International Inc. "We believe
DragonVenture has a great track record of partnering interested
investors with emerging business opportunities in China and
the company clearly understands the challenges of this complex
yet very coveted market."
"DragonVenture
is excited at the opportunity to advise and assist BriTay
International." Said Tony C. Luh, Managing Director of
DragonVenture, Inc. "BriTay is in the right market at
the right time. BriTay will be even more successful in China
with additional funding from synergistic investors."
DragonVenture's
presence in China has been significant. In February of this
year, the Dongguan Municipal Government of China appointed
the firm as its "Consulting Agency of Record" in
order to promote the city and its business opportunities to
foreign investors. In December of 2001, DragonVenture signed
a deal to co-manage an M&A fund with Guangzhou's Canton
Venture Capital firm which is intended to line up interested
foreign investment for blue chip China companies from the
region. This deal followed news of a US$60M fund to be jointly
raised with China's largest venture capital firm, Shenzhen
Venture Capital that DragonVenture announced in October of
2001.
"We
believe we have a series of very compelling HR business solutions
to offer our clients operating in China and by partnering
with a venture capital firm such as DragonVenture, we feel
confident we will raise the required capital to bring our
solutions successfully to market" stated Don.
About
DragonVenture, Inc.
DragonVenture, Inc. is a premier cross-Pacific venture capital,
consulting and soft incubation company specializing in bridging
the U.S. and Greater China marketplaces. DragonVenture manages
funds that invest in emerging companies in the areas of telecommunications,
Internet infrastructure, IC & Semiconductor, and Linux.
The company provides cross-Pacific consulting services and
facilitates cross-Pacific strategic alliances and/or partnerships,
and mergers and acquisitions through DragonVenture's M&A
Fund. DragonVenture, Inc. is headquartered in Silicon Valley
and also has a branch office in Beijing, China. DragonVenture
is working closely with numerous U. S. firms on their China
strategy while assisting a handful of Greater China companies
to expand business horizons into North America.
For
more information visit www.dragonventure.com
or www.dragonventure.com.cn
About BriTay International Inc.
BriTay
International Inc. is a consulting and management services
company, with offices in Chicago, Illinois (USA), as well
as in Beijing (China), and with parent company offices in
Shanghai, Guangzhou and Hong Kong, China. The company specializes
in the design and delivery of human resources management and
organizational development solutions, staffing and employee
integration services, as well as internet-enabled HR strategies
and solutions for companies wanting to open or expand their
business operations in Mainland China. BriTay International
Inc. is a subsidiary of Management Recruiters International
Worldwide China - a member of the MRI global network.
About
MRI Worldwide Inc.
MRI Worldwide (www.mriww.com) provides search and recruitment
services to clients in every major industry, serving multi-national
companies on a global basis. With over 220 offices in Europe
and Asia alone, the MRI network now exceeds 1,100 offices
worldwide, making it the largest search company in the world.
Based in Cleveland, MRI has system-wide billings of US$600
million and places 45,000 people in jobs annually. MRI is
a subsidiary of staffing and outsourcing leader CDI Corp (NYSE:
CDI; www.cdicorp.com
), a US$1.1 billion company providing customized technical,
information technology, professional and administrative staffing
and outsourcing solutions to its Fortune 1000 customers. In
2001, nearly 100,000 people worked on company assignments.
For
additional information on BriTay International, or the services
mentioned herein, visit the company's Web site at http://www.britay.com
or call (8610) 6505-9180 in China or (630) 990-8233 in the
USA.
Contact
Person: Jennifer Lee
Director of Business Development
Email Address: jenniferlee@britay.com
(8610) 6505-9180 in China
(630) 990-8233 in USA
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