Novantas Forms Strategic Alliance with CognoData Consulting, Expands Presence in Spain

June 26 , 2006

NEW YORK – Novantas LLC today announced the formation of a strategic alliance with CognoData Consulting, Madrid, further expanding its presence in Spain. The two companies also set a goal of merging by the end of 2006.

Novantas is a management consultancy serving the majority of the largest banking and financial services companies in North America. It formally entered Spain in the spring of 2004 with the establishment of Novantas España, led by José Luis Cortina.

CognoData is a major consultancy that helps companies to improve growth and profitability through strategic analysis of customers, channels and products. The firm is active in a variety of industries, including retail banking, payments, insurance, telecommunications, public utilities and general retailing.

"CognoData is an excellent fit with Novantas, both in terms of consulting philosophy and core capabilities," said Cortina. Jim Bramlett, a Novantas Managing Director who is leading the firm's international expansion, added: "Together, the two firms will provide an outstanding array of services to major corporations in Spain."

Raúl García, a Socio Director at CognoData, said "Our clients in Spain will now benefit from the international perspectives and expertise developed by Novantas over the course of its work with major companies in North America, Europe and Asia. In turn, the unique approaches and capabilities developed by CognoData in Spain can now be marketed globally."

Novantas is a pioneer in applying customer sciences disciplines in areas such as customer segmentation, product design, pricing strategy, and improving the ability of sales and service representatives to interact with customers. Areas of particular expertise include retail and small business banking, branch sales performance, credit cards, insurance, brokerage, and commercial and investment banking.

CognoData focuses on improving companies' ability to interact with customers, in areas such as relationship acquisition, retention and expansion; segmentation; targeted marketing and sales initiatives; and relationship profitability.

The two firms said the complementary nature of their respective capabilities and client needs provided a compelling rationale for the new strategic alliance.