INTA...baby internet incubator...
solid volume, perhaps momentum play, maybe a one day wonder, but who really knows as many of these have provided huge returns of late...brought to my attention couple weeks ago, and news...your dd...
IPO Filed By Intasys Incubator's First Investment
MONTREAL--(BUSINESS WIRE)--Dec. 22, 1999--Intasys Corporation (NASDAQ:
INTA - news) today announced that interWAVE Communications International Ltd. (``interWAVE') has filed a registration
statement with the Securities and Exchange Commission for an initial public offering of shares from the treasury of company.
The shares have been approved, subject to notice of issuance, for quotation on the Nasdaq National Market under the symbol:
IWAV.
On August 30, 1999 Intasys announced that its incubator division, recently created in order to provide investment capital and
management counsel to cutting-edge Internet, e-commerce and wireless telecommunications ventures, had invested US $5.05
million in interWAVE. Pursuant to this investment Intasys acquired 715,000 preferred shares (each convertible into one
common share) and common share purchase warrants which entitle Intasys to purchase a further 715,000 common shares at
$1 each.
Under the terms of the registration statement filed, interWAVE expects to raise a maximum aggregate amount of $86,250,000
by selling 7.5 million shares. The lead underwriters for the IPO are Salomon Smith Barney Inc., Banc of America Securities
LLC and SG Cowen Securities Corporation.
Current interWAVE shareholders include such major telecommunication companies as Nortel Networks Corporation and
Alcatel USA, a unit of Alcatel Alsthom Cie Generale d'Electricite. interWAVE is a provider of compact wireless
communications systems based upon GSM, an international standard for voiceves to be the only commercially available system
that provides all of the infrastructure equipment and software necessary to support an entire wireless network within a single
enclosure. The company's products are marketed globally through strategic relationships with Alcatel and Nortel.
At the time of the Intasys investment in interWAVE, the two companies signed an agreement whereby Intasys is to integrate its
billing system with interWAVE's digital microcellular network solutions, which will result in a product that can then be marketed
by interWAVE on an OEM basis.
Steve Saviuk, chairman and chief executive office of Intasys said: ``It is gratifying to see that the first investment made by
Intasys under its recently inaugurated program of investing strategically in Internet and wireless related industries and
technologies, shows such promise in so short a period of time. In addition to what we expect to be a very significant return on
our investment, we are confident that our strategic partnership agreement with interWAVE will, over the next few years, result
in a synergistic and mutually beneficial relationship that will allow both interWAVE and Intasys to offer comprehensive wireless
network solutions and to penetrate new markets for our respective products around the world.'
Other recently announced Intasys investments include a 69.1% stake in the top-rated and rapidly growing meta search engine,
Mamma.com ( as well as a 35% interest in TEC TechnologyEvaluation.com Corporation, (), a sophisticated web-based
provider of objective, user driven, research, market analysis and decision making tools to IT professionals. ``Both of these
recent investments continue to be very exciting. Mamma.com is growing at a rate ahead of our projections, to almost 4.1 million
unique visitors in November, 1999. Meanwhile, TEC continues to add to its already impressive list of major corporate clients.
It is likely that these two companies will themselves each become a candidate for an IPO in the not too distant future',
concluded Steve Saviuk.
About Intasys
Intasys Corporation, through an investment program operated by its recently inaugurated ``Incubator' division, provides
investment capital and management counsel to embryonic as well as more established cutting-edge Internet, e-commerce and
wireless telecommunications ventures. The company is also a global provider of wireless, Internet-compatible billing and
customer information systems. Recently announced investments include acquisitions of significant interests in Mamma.com Inc.,
a top-rated meta-search engine; interWave Communications Inc., a leading manufacturer of micro-cellular switches; and TEC
TechnologyEvaluation.com Corporation, a highly sophisticated web-based technology evaluation firm. Intasys has corporate
offices in Montreal and Toronto, Canada. Further information is available at this address: Intasys Corporation, 5 Place
Ville-Marie, Suite 1234, Montreal, Quebec H3B 2G2..
Statements contained in this press release which are not historical facts are forward-looking statements as that term is defined in
the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties
that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the
Company's filings with the Securities and Exchange Commission. Any and all statements made regarding Year 2000 and
hereby designated by Intasys as ``Year 2000 Readiness Disclosure' pursuant to the Year 2000 Information and Readiness
Disclosure Act.
Contact:
Ron Perry, Investor Relations
Intasys Corporation, Toll Free: 877-289-4682 |
