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(BSNS WIRE) Wowstores.com Enters Into Agreement to Acquire Stockfirst.co
Wowstores.com Enters Into Agreement to Acquire Stockfirst.com
Business Editors/Technology Writers
BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 12, 1999--Wowstores.com
Inc. (OTC BB:WOWS) announced Thursday it has entered into a definitive
agreement to acquire Stockfirst.com Inc. ("Stockfirst.com").
Stockfirst.com, located at stockfirst.com, is the publisher
of Stockfirst.com, a leading Internet-based provider of insightful
investor financial content including Free Real Time Quotes, Charts,
Investment Newsletters and Fundamental Economic and Stock Specific
Data.
Stockfirst.com is listed among the Top 50 Financial Sites by The
Public Registrar's Annual Report Service (PRARS) -
prars.com - and is listed as 71st
amongst the 100 hot finance sites listed on CBS MarketWatch.com -
the Web's Most Popular Finance Sites - 100hot.com.
Stockfirst.com competes with TheStreet.com (Nasdaq:TSCM), and CBS
MarketWatch.com (Nasdaq:MKTW).
Management stated: "Together, Wowstores and Stockfirst.com will
be a winning team. Stockfirst.com has over 53,000 subscribers and
averages 3,500,000 page views per month with 250,000 unique visitors
and 61,000 recurring users. We feel they present a formidable
competitor to TheStreet.com's 51,000 subscribers and 970,000 visitors
who viewed 14 million pages as of the end of March 1999." Management
also took into consideration the fact that in June of this year,
Telescan (Nasdaq:TSCN) acquired INVESTools whose website receives over
300,000 unique visitors per month and has 13,000 current subscribers
for 2.3 million shares of Telescan or $53 million worth of stock.
Additionally, CBS MarketWatch.com acquired BigCharts.com for
$166 million in cash and stock.
It is management's belief that the acquisition of Stockfirst.com
could significantly enhance shareholder value. Stockfirst.com provides
Wowstores with a huge cross-marketing partner relationship.
Furthermore, with many of the top 100 financial websites already being
acquired, management felt that the Stockfirst.com acquisition could
play a strategic role in our corporate growth.
Stockfirst.com Inc. located at stockfirst.com, is the
publisher of Stockfirst.com a leading Internet based provider of
investor financial content available for investment decisions,
including Free Real Time Quotes, Charts, Investment Newsletters, and
Fundamental Economic and Stock Specific Data.
Wowstores.com, located at wowstores.com, is a
commission-driven Internet shopping directory. This site provides
customers with access to merchandise and services 24 hours a day. The
company earns a commission on items purchased via Wowstores links to
the affiliate or sponsor sites.
Forward-looking statements in this release are made pursuant to
the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to certain
risks and uncertainties and actual results could differ from those
discussed.
This material was prepared and disseminated by The Hawke Group
Inc. ("Hawke") for the company discussed herein, based upon company
supplied information or other sources believed to be reliable. The
information is not guaranteed by Hawke for accuracy or to be all
inclusive. This material is information only and is not an offer or
solicitation to buy or sell the securities. Hawke, its affiliates,
and/or its officers, directors and employees may from time to time
have a position in these securities. The Hawke Group has been
compensated by the company.
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