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Non-Tech : Wit Capital Group Inc - (Nasdaq - WITC)
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To: Henry Volquardsen who wrote (828)11/1/1999 8:28:00 AM
From: Topannuity   of 845
 
Wit Capital To Acquire Soundview Technology Group; Landmark
Transaction Creates Leading Internet/Technology Investment Banking Firm
NEW YORK, Nov. 1 /PRNewswire/ -- Wit Capital Group, Inc. (Nasdaq: WITC - news), today
released the following:

-- SIGNIFICANTLY EXPANDED PRODUCT OFFERING: Individual investors will have
access to a greater allocation in an increased number of transactions
across a broader range of core technology sectors, as well as
institutional-quality research on an additional 190 technology
companies

-- INCREASED DISTRIBUTION: Total shares offered to investors could more
than triple in the first year following the transaction

-- EXPANDED SUITE OF PRODUCTS FOR ISSUERS: Issuers of Internet/technology
offerings will benefit from significantly increased capabilities in
capital raising, research, strategic advisory, trading and online
investor access

-- SOLIDIFIED LEADERSHIP POSITION: Wit Capital strengthens its position as
a leading Internet/technology investment banking firm by building one
of the largest banking and research groups focused exclusively on
Internet/technology companies

-- INCREASED REVENUES: Wit Capital's nine month 1999 revenues increase
significantly from $27 million to $127 million on a combined basis

Re: WIT & Soundview
How is WIT paying for Soundview?
Does this mean Soundview management actually has confidence in WIT's management and processes?
Wonder where Goldman fits in here...they're a significant owner of WITC stock?
Does this mean more accounts competing for IPOs?
Lots to speculate about..
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