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FSVP trades Nasdaq around 2 11/16...this collaboration announced on 1/6/2000 w/idealab! is very interesting. For those of you who wish to research take a look at idealab!.
FIND/SVP Signs Collaboration Agreement With
Idealab! to Develop Find.com Portal Site
NEW YORK--(BUSINESS WIRE)--Jan. 6, 2000--FIND/SVP, Inc. (NASDAQ: FSVP - news) the business advisory and
research service, today announced that it has signed a collaboration agreement to develop find.com, a new Internet site that will
contain search engine technology, content and features.
As part of the collaboration agreement, FIND/SVP is also assigning the domain name find.com and licensing the use of certain
rights to the trademark ``FIND' to a new company, Find.com, Inc., a wholly-owned subsidiary of idealab!. A leading creator
and operator of Internet businesses, idealab! will develop the find.com site. The front page of the find.com site will have a link
to findsvp.com, which will continue to offer business advisory and research services provided by FIND/SVP consultants.
The agreement also anticipates that the parties will work together to identify and jointly pursue other mutually beneficial Internet
ventures in the future and identify ways for idealab! or its affiliates to invest in FIND/SVP.
Under the terms of the arrangement, FIND/SVP is receiving consideration in the form of cash, stock and royalties. As an initial
result of the transaction, FIND/SVP expects to record pretax income of approximately $1.2 million in the fourth quarter of
1999. Further details of the agreement were not disclosed.
``We are extremely pleased that the extraordinary resources and talents of idealab! will be used to make find.com a major
consumer portal,' said Andrew P. Garvin, president of FIND/SVP. ``idealab!'s track record of success was a key factor in
concluding this agreement.'
Mr. Garvin said FIND/SVP will continue its focus on developing the business-to-business advisory services provided by its
own professional staff and the 1,000 consultants in the worldwide SVP group. Findsvp.com provides access to the other
countries in the group through links to svp.com.
Commenting on the deal, Brigitte de Gastines, chairman of FIND/SVP and president of SVP International, said, ``Since the
main mission of the SVP group is to provide telephone and internet access to human experts to help executives address their
business issues through personalized consultations, we felt it was appropriate to collaborate with a company like idealab! to
develop the potential of the find.com name.'
About FIND/SVP
FIND/SVP is a worldwide business advisory, research and consulting service with more than 2,000 retainer client organizations
in the U.S. The Company has been helping executives make more informed decisions since 1969 by providing access to
knowledgeable professionals who deliver cost-effective answers, solutions and guidance backed by solid research. It is the
second largest member of the global SVP Group. Worldwide, the SVP Group serves more than 75,000 executives in 10,000
companies. FIND/SVP is located at 625 Avenue of the Americas, New York, NY 10011. More information is available by
calling 212-645-4500 or visiting FIND/SVP's Web site at findsvp.com, or the SVP Group's site at
svp.com
Certain statements and information included in this release constitute ``forward-looking statements' within the meaning of the
Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, the
ability to develop a leading consumer internet portal, possible future internet ventures, and possible future investments in
FIND/SVP. These forward looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance, or achievements expressed or implied in such forward-looking statements to be different.
Contact:
FIND/SVP, Inc., New York
Andrew Garvin, President & CEO
212/463-6200
or
Investor Access Corp., New York
Robert Frost, 212/679-0652 |
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