Big Picture to acquire Noteable!
Big Picture Technologies Inc BPI
Shares issued 16,294,250 Dec 31 close $2.30
Tue 4 Jan 100 News Release
Mr. Michael Anthony reports
Big Picture Technologies has completed a memorandum of understanding to
acquire 100 per cent of the issued and outstanding shares of Noteable!
Inc., for a combination of cash and shares.
Calgary-based Notable! Inc. is a leading provider of Lotus Domino-based and
Web-enabled "employee-facing" applications for managing employee expenses,
time-based activities and customer relationship management. Its TimeTrak!,
ExpenseTrak! and Contact! applications are currently employed by more than
25,000 users worldwide, including the Royal Bank, Arthur D. Little, Disney
and 3COM.
Noteable! recently announced that EDS of Plano, Tex., one of the world's
largest systems integrators, will distribute Web-delivered versions of
Noteable! products worldwide. Noteable! maintains officers in Calgary,
Toronto and London, Ont.
"Noteable! brings to Big Picture significant products, technologies and
relationships that will advance this company's emerging status as a leading
provider of Web-based and e-commerce-based tools and applications," said
Michael Anthony, Big Picture president and chief executive officer. "I am
particularly excited about Noteable!'s new venture into Web-delivered,
subscription-based business applications, which complement and extend our
strategic offerings and align nicely with the 'dot.com' infrastructure
recently acquired with Morgan Media."
Paul Sullivan, Noteable! CEO, stated: "I am excited by the many
opportunities created by joining forces with Big Picture. Building on our
success to date, Big Picture brings key skills in marketing, software
productization and distribution, enabling us to achieve accelerated market
penetration and leadership. We look forward with great anticipation to the
synergies that will emerge from this relationship."
Mr. Anthony added: "Big Picture now enters year 2000 with very aggressive
internal and external growth objectives. This transaction completes, for
the near term, our acquisition requirements in Canada, paving the way for
our next strategic expansion into the United States."
The memorandum of understanding is subject to the approval of the CDNX, the
completion of due diligence and the execution of final documents. the
parties have agreed to close the transaction prior to the end of January. |
