THEGRAFNETWORK LLC BECOMES PRAEDEA SOLUTIONS,
Data Extraction Software Provider Changes
Name to Better Reflect Corporate Focus
New York, July 17, 2002 – thegrafnetwork
LLC (www.thegraf.net), a developer and licensor of universal
enterprise software solutions providing real-time data extraction
from financial/SEC filings and other documents and a provider
of data via value-added end-user applications, has changed
its name to Praedea Solutions, Inc. (“PraedeaSM”)
to better reflect the company’s corporate focus.
With the name change, Praedea intends to focus on the further
development and commercialization of its data extraction software,
rather than data provision and value-added end-user applications.
This new focus for the company is the result of expressed
market demand for, and Praedea’s unique capabilities
regarding, fast, accurate and cost-effective data extraction
solutions – in particular, automated solutions to replace
existing manual processes and legacy systems.
James Graf, Chief Executive of Praedea, explained the corporate
name change stating, “The term ‘Praedea’
is derived from the Latin roots ‘prae’ meaning
‘what comes before’ and ‘dea’ meaning
‘goddess or authority’. Loosely translated the
combination of these roots thus means the ‘authority
for what has come before’ or ‘the precedents authority’.
Given the market’s need for, and our decision to focus
on, our company’s profound and authoritative capabilities
in the automated extraction of precedent information/data,
our new name better reflects our corporate focus.”
PraedeaSM develops and licenses
universal enterprise software solutions providing real-time
data extraction from financial/SEC filings and other documents.
Utilizing proprietary text-mining automation, the Praedea
Data Extraction PlatformTM (the
automatically extracts predetermined numeric figures and text
from semi-structured electronic documents, while retaining
(hyperlinks to precise locations in underlying source documents)
for absolute data transparency. Based in New York, Praedea
was established in 2000. Praedea has approximately 30 employees
located in New York, Kiev and Kuala Lumpur. For more information
about Praedea or the Praedea DEP, visit the company’s
website at www.praedea.com
or call (212) 206-8529.