BCE Emergis Spins Off its Sports and Leisure Division
Gone and so are the 2 insider sellers. Have to check MicroTempus price, what is IFM going to do with 6M shares?? Released after market close. Should be good news. see tomorrow.
Wednesday September 29, 5:30 pm Eastern Time
Company Press Release
BCE Emergis Spins Off its Sports and Leisure Division
MONTREAL--(BUSINESS WIRE)--Sept. 29, 1999--BCE Emergis announced today that it has signed a letter of intent with MicroTempus Inc. for the sale of its Sports & Leisure division in exchange for 6 million shares of MicroTempus.
This deal is subject to regulatory and MicroTempus' shareholders approval and is scheduled to close in the fourth quarter of 1999. As part of the transaction, 11 people including Rory Olson and Joel Leonoff, will move to MicroTempus.
The Company previously indicated that it was looking to spin off its Sports & Leisure division and to focus its business in specific market verticals in the business-to-business domain. At the same time, MicroTempus will become party to an alliance with BCE Emergis under which BCE Emergis will provide electronic commerce transaction processing services for MicroTempus' clients.
''I would like to take this opportunity to thank Rory Olson who was formerly an Executive Vice President of BCE Emergis'', said Brian Edwards, President and Chief Executive Officer, BCE Emergis. I appreciate the valuable contribution that he has made to the Company and wish him the best of luck in his new role. We look forward to working with him and MicroTempus, as BCE Emergis partners, for the benefit of all parties.''
BCE Emergis delivers network-centric e-commerce services that improve customer processes through the exchange of secure transactions. Combining e-commerce services, network connectivity, security and e-payments solutions through industry verticals, BCE Emergis offers a full suite of core technologies that are the essential building blocks for electronic commerce. BCE Emergis is among the top electronic commerce providers in North America and is listed on the TSE 300 Composite Index. For more information, please refer to www.emergis.com.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of BCE Emergis with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. |
