(OTC BB:NRSK) B: Prime Net Changes Name to ebaseOne
B: Prime Net Changes Name to ebaseOne
HOUSTON (May 17) BUSINESS WIRE -May 17, 1999--Prime Net Corporation
(OTC BB:NRSK) announced today that it has changed its name to ebaseOne
Corporation to reflect its new focus on the Internet business model.
The company will also change its stock ticker symbol soon to reflect
its name change. ebaseOne/Prime Net is the surviving entity in a
stock-for-stock exchange with Norske Energy Corporation (OTC/BB
"NRSK").
ebaseOne will tap into the rapidly growing high-end application
service provider (ASP) market. The enterprise leased application
hosting market, as it is also known, was recently estimated by leading
research and analysis firm IDC to be worth $150.4 million this year and
should increase annually by over 90 percent, reaching $2 billion
worldwide by 2003.
IDC published "Worldwide Application Service Provider Forecast,
1998-2003," the first in-depth analysis of the ASP market in March. The
report counted only those ASPs that, like ebaseOne, provide advanced
services and complex applications such as enterprise resource planning
(ERP) software. Companies which merely host and maintain simple
applications are excluded.
ebaseOne will offer corporations a cost-effective alternative to
purchasing enterprise software applications. Instead, corporations will
be able to lease all types of software, from sales force automation and
customer support to accounting applications.
The company's Web site at ebaseone.com is currently under
construction. For more information on the company, contact David Drake
of Merger Communications at 713/267-2328 or daviddrake@earthlink.net.
Certain statements in this release are forward-looking. Although
ebaseOne Inc. (the Company) believes its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual results
will not differ materially from its expectations. Merger Communications
(Merger) is a media relations firm employed by the Company. Statements
and opinions presented here represent the views of the Company, not
Merger, as the release is based on information provided by the Company.
Merger and the Company believe that all information in this release has
been obtained from sources considered reliable, but cannot guarantee
that the statements presented herein are accurate or complete. Merger's
compensation for its media relations services consists of a cash fee
and stock. Merger can have a long position in the securities of the
companies in which it distributes information for media use, and may be
buying or selling securities in the course of its regular business.
-0- EB/ho*
CONTACT: Merger Communications, Houston
David Drake, 713/267-2328
KEYWORD: TEXAS
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
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