NextPath Technologies Acquires Internet Development Firm PriMedium, LLC
HILLSBOROUGH, N.C.--(BUSINESS WIRE)--Sept. 9, 1999--NextPath Technologies, Inc. (OTCBB:NPTK - news) announced today that it has acquired 100 percent of PriMedium, LLC, based in Dallas, Texas, for cash and stock. PriMedium specializes in Internet and enterprise portal development, Internet application services, electronic business development and hosting, and business process engineering.
PriMedium is an electronic business development firm which combines state of the art software engineering and system design to build web enabled solutions that link businesses with customers, trading partners, and strategic allies.
PriMedium's electronic business initiatives also include the development of proprietary business-to-business (b2b), business-to-consumer (b2c), and business-to-government (b2g) solutions. Additionally, PriMedium develops web-based products and services including multi-function multi-application Smart Cards, Intelligent Software Agents, and portals for dynamic trading and service networks.
According to James R. Ladd, President of NextPath, ``PriMedium is an integral part of NextPath Technologies' 21st century 'Keiretsu`` of technology companies. As a member of this family of leading edge technology firms, PriMedium will provide electronic business development services, including Internet, intranet and extranet solutions and expertise to affiliate companies and clients alike. These solutions include, but will not be limited to, multi-tiered application architecture design, data warehouse and data mart design, personalization, customer relationship management, legacy system integration, work flow, project planning and design, application hosting services.'
NextPath Technologies will leverage PriMedium's expertise in 5th GL programming languages and object-oriented application design skills in areas such as Java, Java-script, Visual Basic Script, Active Server Pages, COM, Enterprise Java Beans, and other components by enhancing and extending the value of the products and services offered by other members of the NextPath Technologies family as well as PriMedium's proprietary developments.
``We are extremely pleased to be joining the NextPath Family,' Steve Martin, PriMedium CEO, stated. ``The synergy that exists between PriMedium and the other entities that will be joining NextPath soon is outstanding. We have already begun working with two of these companies. In the coming weeks we expect an announcement to be made reflecting the tremendous success of these initial joint efforts.'
NextPath Technologies, Inc. is a holding company that has acquisitions and strategic alliances pending that will allow the company to become a significant participant in a number of rapidly expanding technology market sectors.
The company has agreements to acquire Sagebrush Technology, Inc., Willow Systems, Ltd., Laser Wireless, Inc., and NextWave Photonics, LLC. NextPath is currently in the final stages of negotiations with several Internet and E-Commerce companies. It is anticipated that the corporate strategies currently being pursued by NextPath will result in geometric increases in the profitability of the respective companies joining NextPath.
Certain statements in this news release may constitute ``forward looking' statements within the meaning of section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties, and other factors which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ.
NextPath Technologies, Inc. is Quoted on the OTC Bulletin Board as ``NPTK'.
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Contact:
NextPath Technologies, Inc.
Investor Communications Co.
800/511-4215 or 800/457-5579
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