news - Mar 29,2000 - TTLN Settles with SBET/GWIZ
GlobeSpan Technology Partners Agrees to TTLN Settlement Offer
/FROM PR NEWSWIRE PHILADELPHIA 800-523-4424/
TO BUSINESS EDITOR:
GlobeSpan Technology Partners Agrees to TTLN Settlement Offer
PLYMOUTH MEETING, Pa., March 29 /PRNewswire/ -- GlobeSpan Technology
Partners (OTC Bulletin Board: GWIZ) of Plymouth Meeting, Pa. announced today
that it has accepted and finalized a settlement offer of the lawsuits with
Total Entertainment, Inc. (OTC Bulletin Board: TTLN) and its wholly owned
subsidiary Intercapital Canada Ltee et al. for alleged copyright infringement
and damages.
The settlement agreement was for an undisclosed amount of cash and other
considerations, and was made without admission by either party. The
principals of both companies expressed their relief in settling what could
have been a long protracted legal battle at a great expense to both companies.
Both companies further indicated that the settlement was equitable to both
parties and should have no adverse financial effect upon the respective
companies. The settlement should allow both companies to now move forward and
achieve their individual goals without further distraction from this
litigation.
About GlobeSpan Technology Partners
Founded in 1994, GlobeSpan Technology Partners Inc. (formally Interactive
Gaming & Communications Corp.) through its wholly owned subsidiary,
Intersphere Communications Ltd. (http://www.intersphere.com) is a leading
Internet Development and Marketing company, that specializes in development
and integration of proprietary e-commerce and web enabling technologies. Its
web-based products are marketed to target vertical markets through subsidiary
enterprises or portfolio companies. GTP's current list of subsidiary or
portfolio companies includes Interactive Gaming Corp., PlayForFun, Century
Steel Products and Precision Media Corp. Some of the company's proprietary
software products include ToteMaster, an online Internet/intranet-based
racetrack Totalization system, and the LiveAction Casino Gaming Platform, an
online Internet/intranet-based casino & sports book account wagering system.
The company also maintains and operates several strategic portal sites through
its subsidiary PlayForFun (http://www.playforfun.com), Gamblenet
(http://www.gamblenet.com) and WhoWonWhere.com (http://www.whowonwhere.com).
GlobeSpan Technology Partners, is a global Internet leader of online gaming
and web-based vertical market technologies with a major presence throughout
the U.S. and Europe.
For more information and purchasing contact the sales department at
610-941-0305, ext. 20.
GlobeSpan Technology Partners, ToteMaster and LiveAction are registered
Trademarks of GlobeSpan Technology Partners Inc. All other referenced
trademarks are those of their respective companies.
SOURCE GlobeSpan Technology Partners Inc.
/CONTACT: GlobeSpan Technology Partners, 610-941-0305, ext. 20, or
fax,610-941-4752, or Email, investorrelations@globespanpartners.com/
/Web site: playforfun.com /
/Web site: gamblenet.com /
/Web site: whowonwhere.com /
/Web site: intersphere.com /
/Web site: globespanpartners.com /
Mar-29-2000 06:45 GMT
Symbols:
US;GWIZ US;TTLN
Source PRN PR NewsWire
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