WOWS- bought on nice news..
(COMTEX) B: Wowstores.com Enters Into Agreement to Acquire Stockfirst
B: Wowstores.com Enters Into Agreement to Acquire Stockfirst.com
BOCA RATON, Fla., Aug 12, 1999 (BUSINESS WIRE via COMTEX) --
Wowstores.comInc. (OTC BB:WOWS) announced Thursday it has entered into
a definitive agreement to acquire Stockfirst.com Inc.
("Stockfirst.com"). Stockfirst.com, located at
stockfirst.com, is the publisher of Stockfirst.com, a
leading Internet-based provider of insightful investor financial
content including Free Real Time Quotes, Charts, Investment Newsletters
and Fundamental Economic and StockSpecificData.
Stockfirst.com is listed among the Top 50 Financial Sites by The Public
Registrar's Annual Report Service (PRARS) -
prars.com - and is listed as 71st
amongst the 100 hot finance sites listed on CBS MarketWatch.com - the
Web's Most Popular Finance Sites - 100hot.com.
Stockfirst.com competes with TheStreet.com (Nasdaq:TSCM), and CBS
MarketWatch.com (Nasdaq:MKTW).
Management stated: "Together, Wowstores and Stockfirst.com will be a
winning team. Stockfirst.com has over 53,000 subscribers and averages 3,
500,000 page views per month with 250,000 unique visitors and 61,000
recurring users. We feel they present a formidable competitor to
TheStreet.com's 51,000 subscribers and 970,000 visitors who viewed 14
million pages as of the end of March 1999." Management also took into
consideration the fact that in June of this year, Telescan
(Nasdaq:TSCN) acquired INVESTools whose website receives over 300,000
unique visitors per month and has 13,000 current subscribers for 2.3
million shares of Telescan or $53 million worth of stock. Additionally,
CBS MarketWatch.com acquired BigCharts.com for $166 million in cash and
stock.
It is management's belief that the acquisition of Stockfirst.com could
significantly enhance shareholder value. Stockfirst.com provides
Wowstores with a huge cross-marketing partner relationship.
Furthermore, with many of the top 100 financial websites already being
acquired, management felt that the Stockfirst.com acquisition could
play a strategic role in our corporate growth.
Stockfirst.com Inc. located at stockfirst.com, is the
publisher of Stockfirst.com a leading Internet based provider of
investor financial content available for investment decisions,
including Free Real Time Quotes, Charts, Investment Newsletters, and
Fundamental Economic and Stock Specific Data.
Wowstores.com, located at wowstores.com, is a
commission-driven Internet shopping directory. This site provides
customers with access to merchandise and services 24 hours a day. The
company earns a commission on items purchased via Wowstores links to
the affiliate or sponsor sites.
Forward-looking statements in this release are made pursuant to the
Safe Harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are subject to certain risks
and uncertainties and actual results could differ from those discussed.
This material was prepared and disseminated by The Hawke Group Inc.
("Hawke") for the company discussed herein, based upon company supplied
information or other sources believed to be reliable. The information
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