MapInfo Announces Investment in e-Business Start-up: NearMe.com
A New Venture from MapInfo's Business Model for Emerging e-Business Companies
biz.yahoo.com
A nice way to dabble into e-business with someone who know MAPS technology - MAPS pioneer John Haller.
Happily Long MAPS,
Duke
(full story follows)
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Thursday December 23, 8:30 am Eastern Time
Company Press Release
MapInfo Announces Investment in e-Business Start-up: NearMe.com
A New Venture from MapInfo's Business Model for Emerging e-Business Companies
TROY, N.Y.--(BUSINESS WIRE)--Dec. 23, 1999--MapInfo Corporation (Nasdaq: MAPS - news) today announced an investment in NearMe.com, a new e-business company that uses MapInfo technology to help Web consumers find goods, services and events located near them. NearMe.com, founded by MapInfo pioneer John Haller, will deliver this service initially over the Web. MapInfo will hold a minority equity interest in NearMe.com through a cash investment and by licensing MapInfo technology.
``Our investment in NearMe.com is a continuation of our ongoing strategy to embed MapInfo technology within a wide range of e-business companies. Early this year, we launched an ASP service, ReportZone.com, under the banner, `Powered by MapInfo,' and NearMe.com is just one of several new e-businesses we are pursuing which will operate under this same banner,' said John Cavalier, president and CEO of MapInfo.
Cavalier added, ``With recent acquisitions in the Web market, we see an emerging opportunity right now to embed our Internet technology into many e-businesses.'
John Haller of NearMe.com said, ``We know the value of MapInfo technology to e-business and we are using this knowledge to help small businesses take advantage of opportunities created by the Web. With MapInfo technology at the core of our service, we help small businesses, previously unable to tap into the Internet, reach out and attract Web consumers to store locations, entertainment venues, and local services near them.'
About NearMe.com
NearMe.com is an e-business company pioneered by MapInfo founder John Haller. NearMe.com is building a comprehensive local e-business model on spatial-based technologies to allow Web users to better locate goods, services and events near them. NearMe.com is located in the Rensselaer Technology Park in Troy, NY, and can be found on the World Wide Web at www.nearme.com.
About MapInfo
MapInfo Corporation enables customers to use location to transform information into business advantage. A global company and technology leader, MapInfo provides business intelligence solutions that are deployed across organizations to help them better understand their markets and customers. MapInfo solutions are available in 20 languages through a network of strategic partners and distribution channels in 58 countries. Headquartered in Troy, NY, MapInfo Corporation is on the World Wide Web at www.mapinfo.com.
Of Note
This press release contains forward-looking statements that involve a number of risks and uncertainties, including any statement that is not a statement of historical fact. Among the important factors that could cause actual results to differ from those indicated by such forward-looking statements are delays in product development schedules, competitive and market conditions, and the other risk factors detailed in the Company's latest 10-K and 10-Q filed with the Securities and Exchange Commission.
MapInfo, MapInfo Professional, MapInfo logo, MapX, MapXsite, and SpatialWare are registered trademarks, and MapInfo MapXtreme, StreetPro, TargetPro, and Coverage Locator are trademarks of MapInfo Corporation in the United States. Other products named herein may be trademarks of their respective manufacturers and are hereby recognized.
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Contact:
MapInfo Corporation
Barbara Pilliod or Debbie Sgroi Geraci
(518) 285-6000
barbara_pilliod@mapinfo.com
debbie_geraci@mapinfo.com
or
Schwartz Communications
Lauren Arnold or Laura Sexton
(781) 684-0770
lauras@schwartz-pr.com |
