INTQ(BSNS WIRE) Intelliquis Acquires Multimedia Developer, Direct Media; Acq
Intelliquis Acquires Multimedia Developer, Direct Media; Acquisition Positions
Intelliquis in the Multimedia Technology Marketplace
Business Editors/High Tech Writers
SALT LAKE CITY--(BUSINESS WIRE)--July 7, 1999--Intelliquis
International Inc. (OTC BB: INTQ), a premier provider of personal
computer and Internet software, today announced it has entered into an
agreement to acquire the assets of Direct Media Communications Inc., a
San Jose, Calif.-based developer of multimedia and Internet
technology.
According to Bernard Yaw, Intelliquis' president and CEO, the
acquisition of Direct Media allows Intelliquis to enter the multimedia
and Internet technology marketplace.
"The acquisition of Direct Media strengthens Intelliquis'
position in the technology industry, and gives the company a presence
in Silicon Valley," Yaw said. "Direct Media's multimedia and Internet
technology provide the perfect opportunity to build upon Intelliquis'
growth through the sale of additional products, while giving the
company an entry into the multimedia technology and delivery arena.
"With the acquisition of Direct Media, Intelliquis plans to
leverage its global customer network and enter into new strategic
alliances to bring Direct Media's technology to market," Yaw said.
Direct Media is the developer of a technology code-named global
communication module (GCM). GCM is a high-performance network
technology developed around the global communications concept. The GCM
is designed to allow an unlimited number of users to interact over
networks using a variety of data types, including audio, live and
recorded video, text and html, among others, and combines these
various data types into one data stream.
Intelliquis plans to develop and sell products using the GMC
through a new wholly owned subsidiary under the name DirectMedia
Communications (DMC).
According to John Wei, president of Direct Media, the acquisition
also provides DMC the resources to market and sell the GCM product.
Under terms of the acquisition, Wei will become the president of DMC.
"Intelliquis International provides much needed resources to
build new markets and sales opportunities for the GCM product," Wei
said. "I'm particularly excited about the relationship because the GCM
technology can benefit both corporate and education markets. DMC and
Intelliquis can work together to create a whole new market for the
technology, which will allow a mass audience to share information."
The GCM product is designed to improve upon current conferencing
and distribution technology by giving instant interactivity to
multiple participants in an audio and video interactive "net"
conference. In its final form, the product will allow each participant
in the "net" conference to instantly interact with and access every
other participant, as well as interact with and access the data
provider. With the GCM product in place, the host of the "net"
conference will have the ability to send specific content to select
participants. The host will also be able to distribute different
content to each participant or allow all participants in the "net"
conference to share and interact with all content, allowing for a real
global interactive broadcast.
According to Yaw, the GCM technology is perfectly suited for a
number of different applications and vertical markets. "In addition to
'net' conferencing, the GCM and its technology can be adapted to fill
a variety of roles, such as telemedicine, training, corporate
communications, e-commerce and distance learning," Yaw said. "The GCM
is especially suited to the virtual-classroom environment because of
its higher degree of interactivity and multiple pathways of
communication, which break down the distance and communication
barriers between teacher and student."
Yaw said the GCM technology could also be used for other
applications, including use in online auction sites, online
infomercials and online news broadcasts, providing them with real-time
interaction with and among their users.
DMC's new GCM technology is currently in use in a university
setting in Malaysia. DMC plans to build upon its installed Asian base
by expanding into other major international markets, with sales
planned to start in late third quarter, 1999.
Intelliquis will acquire the Direct Media assets for 1.5 million
shares of Intelliquis common stock and the payment of $1 million to
DMC for working capital within 90 days. The company will issue up to
an additional 12 million shares to Direct Media if DMC meets certain
sales performance targets. DMC will continue operating out of its
Silicon Valley offices in San Jose, Calif. About Intelliquis
Based in Draper, Utah, Intelliquis International Inc. (OTC BB:
INTQ) is a premier provider of software titles for the personal
computer market. Intelliquis' Internet, communications, and utility
software enable computer users to save time and money while achieving
greater productivity in their business and personal computing
activities. Intelliquis' software products are available worldwide
through retail, VAR, distributor, Internet, direct and OEM sales
channels. More information can be accessed from the Intelliquis Web
site at www.intelliquis.com.
Except for historical information, all of the statements,
expectations and assumptions contained in the foregoing are
forward-looking statements. The realization of any or all of these
expectations is subject to a number of risks and uncertainties and it
is possible that the assumptions made by management may not
materialize. In that regard, there are no guarantees the acquisition
of Direct Media Communications will be consummated.
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CONTACT: Intelliquis International Inc., Draper
Ken Jenson, 801/990-2600
kjenson@intellquis.com
or
Direct Media Communications
Pat Lucci, 510/851-8837
alucci@hotcoco.infi.net
TICKERS: OTC BB:INTQ
KEYWORD: CALIFORNIA UTAH
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET
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