GMGC is a huge bargain here, in my opinion.
OnStar and General Magic (Nasdaq:GMGC) today announced that
OnStar has agreed to take an equity stake of approximately $15 million in
General Magic, makers of the innovative magicTalkTM voice platform.
OnStar has selected magicTalk as the voice user interface for the OnStar
Virtual Advisor, which will provide hands-free, voice-activated access to
web-based information services in vehicles. General Magic is expected to
provide engineering, network hosting and consulting services to OnStar as
part of the ongoing relationship.
With the magicTalk core technology integrated into the OnStar Virtual
Advisor, OnStar subscribers will be able to access personalized
information such as e-mail, sports, weather, news and market headlines,
all through easy-to-use voice interactions.
"Our relationship with General Magic will allow us to launch our OnStar
Virtual Advisor services faster, and better meet the needs of our rapidly
expanding subscriber base," said Chet Huber, general manager of OnStar.
"General Magic is the leader in technologies that allow people to use
conversational language to interact with voice-enabled services.
Subscribers won't have to memorize complex commands or become
technology wizards to have web-based services delivered in their vehicles."
"The OnStar service is already very popular with consumers, and we are
delighted to partner with OnStar to provide customers with the convenience
of voice-enabled access to web content and services," said Steve
Markman. "We believe voice-based services like the OnStar Virtual Advisor
represent an emerging new direction for consumer technology that will help
people lead more productive and enjoyable lives." Pending regulatory
review, the term of this agreement is three years, to begin in the fourth
quarter, 1999. OnStar, the innovative safety, security and information
service, uses Global Positioning System (GPS) satellite technology and
wireless communications to link drivers and vehicles to the 24-hour OnStar
Center for real-time, personalized services.
OnStar will be included on nearly one million General Motors vehicles by
the end of 2000, dramatically increasing its subscriber base from the
current level of nearly 100,000. For more information about OnStar, visit
onstar.com |
