Derlan Ind: Gains 10% Of Spellcaster Telecommunications Inc
1/18/0 13:11 (New York)
00/01/18 Market News Publishing Inc. No: 000261
DERLAN INDUSTRIES LTD ("DRL-T")
- Gains 10% Of Spellcaster Telecommunications Inc
Derlan Industries Limited announced that, in conjunction with
the acquisition of MediaGlobe Networks Inc. by SpellCaster
Telecommunications Inc., it now has a 10 per cent Common Share
interest in SpellCaster in addition to its holding of Preferred
Shares. SpellCaster is a privately held company that provides
digital telecommunication solutions for Linux-based systems and
has been developing products based on the Linux platform since 1995.
As a result of the MediaGlobe Networks acquisition, SpellCaster
has acquired full ownership rights to a Linux-based server
software family. This software is currently being used as the
primary operating system software on the servers of a select group
of international corporations. The company plans to formally
launch its new range of Linux-based products during Q2, calendar
2000. Existing SpellCaster customers include Cisco Systems, Bell
Atlantic and ComStock/Standard & Poor's.
Robert Lavigne, President of SpellCaster, said: "SpellCaster
continues to put Linux to work and has pioneered the use of the
open source operating system to significantly reduce both the time
and cost of development for its customers. The use of Linux has
given SpellCaster a significant advantage over traditional,
proprietary operating systems, communications and control systems
providers in the Internet, telecom and automation control fields."
Derlan has been an investor in SpellCaster since 1996. The recent
wide acceptance of Linux in the market, combined with the newly
acquired line of Linux-based server solutions and the rapid growth
of the Internet and telecommunications industry could provide
Derlan near term benefits through this portfolio investment.
"This is an ideal time for Derlan to capitalize on its
involvement in SpellCaster and assist the company in bringing to
fruition its near-term goals of enhancing shareholder value," said
Dermot Coughlan, Chairman of Derlan.
About SpellCaster
SpellCaster Telecommunications is at the forefront of ISDN
and remote access technology for the Linux operating system.
SpellCaster's family of products includes both hardware and
software designed to provide a remote access platform for Internet
and intranet applications. Information about SpellCaster and its
current product offerings can be found at www.spellcast.com
About Derlan
Derlan Industries Limited is an industrial corporation,
manufacturing products for the aerospace and pump industries.
The Company has operations in Canada, the United States, Mexico
and Germany. Its shares are listed on the Toronto Stock Exchange
under the symbol DRL. For more information, please visit Derlan's
web site at www.derlan.com.
TEL: 416-364-5852 Stephen B. Taylor, Vice-President,
Corporate Development
Derlan Industries Limited
TEL: 416-423-6605 Patricia Mitsuka, Benchmark Communications
SPELLCASTER |
