Tuesday, November 30, 1999 FROM CALGARY SUN
Merger for city Net firm
Joins distributor
By EMILY MEYER, CALGARY SUN
Calgary-based Internet company Net Shepherd and American
software distributor ClickChoice.com will merge with the help of
a $27.8-million infusion from the Vanenburg Group, a
Netherlands investment company.
Net Shepherd President and CEO Don Sandford said the merger
with ClickChoice, which is subject to shareholder approval, will
focus on consumer and business intelligence.
The merger, along with the Vanenburg Group investment, will
allow for financial flexibility and provide opportunities for a
broader customer base, strengthened management team, and a
chance to achieve higher shareholder value and financial results,
he said.
The merger will require Net Shepherd to issue about 28 million
shares of its stock to the current owners of ClickChoice, which is
82% owned by the Vanenburg Group.
The almost $28-million cash infusion will be distributed between
the development of software resources, and the development of
technology and funding for the "go-to-market" strategies of
subsidiary companies.
As a result of the transaction, the Vanenburg Group will
ultimately own 50% of the new company, which will remain
under the name Net Shepherd.
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