With help to the tune of $7m from UK venture capital company Schroder Ventures, the Waltham, Massachusetts expert systems company AICorp is positioning itself in the European market with its KBMS Knowledge-Based Management System, which is written for IBM mainframes. In exchange for the capital Schroder gets a 90% stake in the equity in the Dutch-based holding company AICorp Europe NV which manages AICorp US’s wholly-owned European subsidiaries in the UK, Germany, France and the Benelux countries. The parent, AICorp US, has the option to buy back at any time with the price being determined by the European holding company’s turn over, and it is expected that it will do so in five years’ time when the venture is profitable. AICorp also announced first shipments of its new KBMS/PC product for OS/2.
