(COMTEX) B: Wowstores.com Completes Acquisition of Stockfirst.com
B: Wowstores.com Completes Acquisition of Stockfirst.com
BOCA RATON, Fla., Aug 25, 1999 (BUSINESS WIRE) -- Wowstores.comInc.
(OTC BB:WOWS) announced Wednesday, it has completed the previously
announced acquisition of substantially all of the shares of
Stockfirst.com Inc. (a private Internet company located in Jericho,
NY). 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,
Daily Market Commentaries, Charts, Investment Newsletters and
Fundamental Economic and Stock Specific Data.
More than 93% of the shareholders of Stockfirst.com have agreed to
exchange their shares of Stockfirst.com for shares of Wowstores.com.
Such shareholders will hold more than 320 million shares of
Wowstores.com or more than 64% of Wowstores.com. The terms of the
acquisition include provisions for Stockfirst.com management to assume
the management of Wowstores.com.
Stockfirst.com is listed among the Top 50 Financial Sites by the The
Public Registrar's Annual Report Service (PRARS)-
prars.com - and is listed as 66th
amongst the 100 hot finance sites listed on 100 Hot Finance - the Web's
Most Popular Finance Sites- 100hot.com.
Stockfirst.com competes with TheStreet.com (Nasdaq:TSCM-news), and CBS
MarketWatch.com (Nasdaq: MKTW-news).
David Hirsch, President of Stockfirst.com announced the transaction and
stated: "The management team of Stockfirst.com is looking forward to
managing the combined entity and moving ahead. This acquisition will
mark a new direction in the company's business, the ultimate goal of
which is to enhance shareholder value. Stockfirst.com has over 54,000
subscribers and averages 3,500,000 page views per month with over 250,
000 unique visitors and 61,000 recurring users. We consider ourselves a
formidable competitor to TheStreet.com's current 60,000 + subscribers."
Management of Wowstores.com also took into consideration the fact that
in June of this year, Telescan (Nasdaq: TSCN-news) acquired INVESTools
whose website receives over 300,000 unique users per month and has over
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.
Stockfirst.com 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, Daily Market Commentaries, Charts, Investment
Newsletters, and Fundamental Economic and Stock Specific Data.
Wowstores.com Inc., 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.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: The Hawke Group Inc., Fort Lauderdale, Fla.
Roy Samuel, President, 954/564-7114
Fax: 954/453-4729
Email: rsamuel@hawkegroup.com
Websites: www.hawkegroup.com
www.higrowth.com
WEB PAGE: businesswire.com
GEOGRAPHY: FLORIDA
INDUSTRY CODE: COMED
INTERACTIVE/MULTIMEDIA/INTERNET
BANKING
MERGERS/ACQ
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