Rank Xerox is becoming active in expanding its business on the continent, and having taken 43% of French Unix services house Axis Digital SA (CI No 1,123), Rank Xerox SA in Spain has teamed up with insurance company Finisterre SA and Valencia’s three universities to create an artificial intelligence company which will shortly move into Valencia’s technological park: Clia SA, the Levantine Artificial Intelligence Company, will concentrate on the development of expert systems applications in all kinds of companies and institutions; the cost of the venture has not been calculated yet, but Clia’s is initially capitalised at just over $200,000, with Rank Xerox having the largest stake at 49%, Finisterre 22%, and the Polytechnic and University of Valencia the balance, all but a small shareholding for the new company’s technical board.
