NEWS OUT!!!
Big Picture acquires Noteable! Inc.
Big Picture Technologies Inc BPI
Shares issued 16,294,250 Jan 28 close $4.00
Mon 31 Jan 2000 News Release
Mr. Michael Anthony reports
The company has completed the acquisition of all of the issued and
outstanding shares of Noteable! Inc. for a combination of $700,000 in cash
and 708,888 common BPI shares. The shares, which are held primarily by
Noteable! management, are escrowed for future earn-out on a performance
basis.
Calgary-based Noteable! 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, 3COM and Disney. EDS of Plano, Tex., one of the largest systems
integrators in the world, recently entered into an agreement to distribute
Web-delivered Noteable! applications worldwide.
"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. "In
particular, Noteable! provides direct access to a dedicated Lotus/IBM
channel that reaches some 50 million seats or notes users -- this is a key
channel and customer base which, to this point, was not directly accessible
to Big Picture."
"In addition, Noteable!'s latest venture into Web-delivered,
subscription-based business applications, complement and extend our
strategic e-commerce offerings and align with the dot com infrastructure
recently acquired with Morgan Media. We will now be able to capitalize on
our rapidly expanding eMERCHANT pro customer base by cross-selling and
up-selling clients with Web-delivered Noteable! back-office applications."
Paul Sullivan, Noteable! chief executive officer, stated: "Integrating
Noteable!'s ability to deliver enterprise applications with Big Picture's
expertise in productization, merchandizing and distribution will greatly
enhance our collective ability to deliver first class e-business solutions
to our target markets. We have already begun the process of integration
that will help us capitalize on the exciting synergies inherent in this
relationship."
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
LATER
Keith |
