Investment in Commercial Internet Telephony
eVestment Company PLC
20 January 2000
The eVestment Company Plc ('eVestment')
Investment in Europe's first commercial internet
telephony service
eVestment, the internet and e-commerce investment
company, is pleased to announce it has invested £500,000
in CallServe Communications Ltd ('CallServe'), Europe's
first commercial internet telephony service.
The investment is part of a £3 million private capital
fundraising by CallServe. CallServe will use the funds to
build the company's infrastructure to meet increasing
demand for its services within Europe and to develop and
expand its service offerings.
'The PC and the telephone are going to merge, and the
internet will be the highway for most of the world's data
and voice communications,' said Paul Duffy, managing
director of CallServe. 'This funding will enable
CallServe to continue building its place at the forefront
of this revolution in voice communication.'
CallServe's software allows customers to make calls to
any telephone worldwide from their own personal computer,
using internet connections as a medium. Costs are
significantly lower than those of the established
telecoms service providers, on average over 60% cheaper
than BT for long distance calls.
CallServe, www.callserve.com, was established in the UK
in 1999 by media entrepreneur Richard Kuttner and IT
consultant Paul Duffy.
For further information, please contact:
The eVestment Company Plc
Chris Roberts 0171 937 4445
Square Mile Communications
Nick Oborne or Stephanie Smart 0171 601 1000
INFORMATION FOR EDITORS
CallServe Communications Ltd (www.callserve.com) is the
first European based commercial internet telephony
service. CallServe home and business customers can make
calls to any telephone worldwide from an internet-
connected personal computer at costs significantly lower
than those of the established telecom service providers.
eVestment invests in and takes an active development role
in young internet and e-commerce related businesses.
Current investments include eBop, The Share.com, Eighteen
Global, Infrastructure Defense, Kapok 2050, Stargig.com,
Easier, Freecom.net and Wave Corporation. To date
gameplay.com and Pure Entertainment Games (investments no
longer held) and Freecom.net and Wave Corporation
(investments still held) have floated.
The eVestment management team, led by Oliver Vaughan,
Chairman, and Christopher Roberts, Chief Executive, has
strong investment and management experience. Oliver
Vaughan is a director of a number of companies including
Internet Technology Group and Redstone Telecom.
eVestment was formed in 1997 and floated on AIM later
that year. It raised £9.8 million in December 1999 to
provide funds for further investment.
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