e
Company Press Release
SOURCE: EDGAR Online, Inc.
EDGAR Online, Inc. to Acquire FreeEDGAR.com
Move Solidifies Web Leadership Position
NORWALK, Conn., July 26 /PRNewswire/ -- EDGAR Online, Inc. (Nasdaq: EDGR - news) announced today it has reached an
agreement in principle to acquire the privately held company FreeEDGAR.com, a.k.a. Partes Corporation, for approximately
950,000 shares of EDGAR Online stock. The move solidifies the position of EDGAR Online (http://www.edgar-online.com) as the
leading Internet provider of business, financial and competitive information derived from U.S. Securities and Exchange
Commission (SEC) data. The combined entity will also be the primary source of EDGAR-based information to most of the
high-traffic financial and business Web sites on the Internet.
Under the agreement announced today, EDGAR Online will purchase all of the stock of FreeEDGAR.com, owner of the
FreeEDGAR Web site (http://www.freeedgar.com) and a supplier of value-added EDGAR Data Services to corporations.
''The addition of the FreeEDGAR site to our business will increase our traffic and user base by more than 50%'', said Susan
Strausberg, CEO of EDGAR Online. ''In addition, combining the FreeEDGAR efforts with our own will strengthen the suite of
value-added services we are able to offer to our Internet subscribers and will accelerate our sale of value-added EDGAR data to
corporations for use on their intranets and extranets.''
''The merger of our business into EDGAR Online gives us the resources to better market our value-added EDGAR Data
Service'', said Mark Schnitzer, CEO of FreeEDGAR. ''In addition, we will have the opportunity to introduce premium products
currently offered by EDGAR Online to our customer base.''
The transaction is expected to close within sixty (60) days.
About EDGAR Online
EDGAR Online (http://www.edgar-online.com) is a Web-based provider of business, financial and competitive information derived
from U.S. Securities and Exchange Commission data. Additional services include value-added functions like IPO Express, a
service that provides easy-to-use, detailed information on IPO filings, pricings and performance, EDGAR Online People
(http://www.edgar-online.com/people), a service that allows users to conduct research on corporate executive and directors,
EDGAR Online Personal, which provides real-time Web and email based alerting, and other personalized advanced searches of
SEC data.
EDGAR Online, Inc. has strategic relationships with portal, business and financial information Web sites including Yahoo!,
Infoseek's GO Network , CNET's SNAP, PointCast, Infospace, CBS MarketWatch, SmartMoney.com, CMPnet's TechInvestor,
Hoover's, Quote.com, Business Wire, Track Data, MSNBC Microsoft and NBC/General Electric, Big Charts, and Raging Bull, a
CMGI company.
EDGAR Online is based in Norwalk, CT. To read additional background and news on EDGAR Online, please go to
edgar-online.com.
About FreeEDGAR.com
Founded in 1993 as Partes Corporation, FreeEDGAR.com develops products that automatically structure and deliver financial data
to analysts and investors by transforming flat text and HTML formats into interactive data analysis and interpretation tools. The
company's web site at freeedgar.com provides access to indexed EDGAR filings, a watch list service with e-mail
alerts for targeted company filings, and instant financial table downloads into Excel spreadsheets. FreeEDGAR's EDGAR Data
Service, available on a contract basis to commercial data providers and application developers, adds seamless integration
capabilities via APIs and XML support. FreeEDGAR has offices in New York City and Kirkland, Washington.
''Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news
release. These statements relate to future events or EDGAR Online's future financial performance. These statements are only
predictions and may differ materially from actual future events or results. EDGAR Online, Inc. disclaims any intention or
obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise.
Please refer to the documents filed by EDGAR Online, Inc. with the Securities and Exchange Commission, which identify
important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but
not limited to risks associated with changes in general economic and business conditions (including in the online business and
financial information industry), actions of EDGAR Online's competitors, the extent to which the company is able to develop new
services and markets for the company's services, the time and expense involved in such development activities, the level of
demand and market acceptance of EDGAR Online's services, changes in the company's business strategies.
SOURCE: EDGAR Online, Inc.
More Quotes and News:
EDGAR Online Inc (Nasdaq:EDGR - news)
Related News Categories: banking, internet
Help
Copyright © 1999 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the
prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance
thereon.
See our Important Disclaimers and Legal Information.
Questions or Comments? |
