Byline: By Sion Barry Western Mail
North wales information solutions venture Quotations is poised for rapid growth, after securing a new round of investment funding.
The Holyhead-based company, chaired by internationally-renowned linguistics expert Professor David Crystal, has received a venture capital investment of pounds 175,000 from Finance Wales and regional selective assistance grant aid of pounds 200,000 from the Welsh Assembly Government to help fund its expansion plans.
The deal takes the total value of Finance Wales' investments in new or expanding businesses to pounds 22.7m.
As Quotations expands it plans to create up to 41 jobs and the venture is planning to move to a larger base in Holyhead.
Quotations was formed in 2001 by Professor Crystal and its managing director, Ian Saunders, to provide reference content and document classification systems.
The company has two divisions, Crystal Reference and Textonomy.
Crystal Reference manages a huge databank of information, which it supplies to an international market that includes print publishers, internet sites and electronic publishers.
The division recently helped develop the New Penguin Encyclopaedia and Penguin Factfinder for Penguin Books.
Quotations has recently been granted a UK patent for its global data model (GDM) - a major classification scheme that allows organisations to organise large quantities …