Dear Anthony, As a follow-up to my previous post seeking advice, here is a copy of the news article on STEN. Thanks, M
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Starnet Consulting Inc. Acquires Click Online Ltd.
PR Newswire, Wednesday, December 02, 1998 at 13:29
NEW YORK, Dec. 2 /PRNewswire/ -- A letter of intent was signed between Starnet Consulting Inc. (Starnet) (BB: STEN) and Click Online
Ltd. (Click), in Tel Aviv, for the acquisition of Click by Starnet.
Click Online is an Israeli-based company, specializing in, among other things, the development, marketing and distribution of games on the Internet.
Their Web site can be visited at clicktoplay.com.
As a result of the acquisition, Click will receive $1,000,000 in cash and 27.5 million shares.
The Officers of Click, Guy Bendov and Chanan Greenberg, will be appointed Officers and Directors of Starnet; at the same time the current Officers and Directors of Starnet will resign.
Click/Starnet plan to open offices in NYC and are at this point
negotiating to move part of their operations to Manhattan.
Click Online is a developer of communication technologies, including chat, peer to peer communication and real time protocol, for the online market.
Click's first product is called Click to Play. It is a complete solution for companies that wish to enhance and boost their Web site traffic by integrating classic multi-user games in their sites.
Click licenses its technologies and receives a percentage of the
advertising.
The online game market will generate $1.6 billion according to the
Forester report. Click have signed an exclusive licensing contract in France with state-owned France Telecom for FT to become their exclusive partner in France in the development and marketing of their games and interactive game zones.
This acquisition and the injection of cash in Click will enable them to develop and market their existing products within the U.S. market.
SOURCE Starnet Consulting Inc.
-0- 12/02/98
/CONTACT: Guy Bendov of Click Online, +972-3-639-6741/
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