I forgot to post the TRAC news from Friday. They've hired a firm to facilitate a buyout or takeover. Based loosely on what Schwab paid for CyberCorp (500 millionish), I guess TRAC to be worth approximately 900 millionish, or $14.50 per share. I'm being conservative.
Track Data Retains Investment Bank Veronis Suhler
NEW YORK--(BUSINESS WIRE)--April 14, 2000--Track Data Corporation (Nasdaq NMS: TRAC - news), a leading provider of online trading and market data services, announced today that it has retained Veronis Suhler as investment banker and strategic advisor for the company. Veronis Suhler will provide advice regarding strategic opportunities, including a possible sale of the company, to maximize shareholder value.
Kenneth Marlin, Managing Director of Business Information Services at Veronis Suhler, said, ``Track Data has established itself as a technology leader in the crowded online trading services market with an emphasis on the active trader, and a clear competitive edge in data delivery and trade executions. We look forward to helping the company take advantage of its opportunities.'
Barry Hertz, Track Data's Chairman and CEO, said, ``In a very short time myTrack has become a leading provider of an integrated online trading and market data solution for the active trader. We believe this is an appropriate time to explore opportunities to maximize shareholder value.'
About Veronis Suhler
Veronis Suhler (http://www.veronissuhler.com) is a leading independent merchant bank dedicated to the media, communications, and information industries. Since its formation in 1981, the firm has acted as a financial advisor across the full spectrum of media industry segments including Broadcasting, Cable & Entertainment; Newspaper Publishing; Consumer Magazines; Business Information Services; Consumer, Professional & Educational Books; Business-to-Business Communications; Specialty Media & Marketing Services; and the Internet. VS&A Communications Partners III, L.P., the firm's $1 billion private equity affiliate, is also exclusively dedicated to investments in the media and communications industries. Additional information may be obtained by contacting Andrew Sprung, Allan Ripp Assoc., 212-721-3495.
About Track Data
Track Data is a New York-based financial services company that offers myTrack, a fully integrated Internet-based online trading and market data system. myTrack offers the first week of trading commission-free. To open a trading account, go to mytrack.com and click on the ``Open a Trading Account' button.
myTrack delivers a continuous dynamic stream of live market data and investors' online trading activity. Trading is offered at prices starting at $12.95 per trade. myTrack is delivered over the Internet powered by application-based software and a constant server connection similar to systems used by professionals, making it faster than the HTML web site-based static pages offered by most of its competitors, such as E*Trade (Nasdaq: EGRP - news), Schwab (NYSE: SCH - news), and National Discount Brokers (NYSE: NDB - news). myTrack delivers free streaming delayed quotes and unlimited free real-time extended quotes, as well as breaking company news, a trade by trade log, charting for technical analysis and a proprietary library of intraday market statistics. For $19.98 per month plus exchange fees, users can subscribe to streaming real-time quotes. A menu of features, including Nasdaq Level II, is available separately or in value packages. In addition to PC-based trading, myTrack offers wireless access through browser phones and PDAs such as Palm Organizers (made by Palm Inc. (Nasdaq: PALM - news)). Download myTrack software or open a trading account at mytrack.com or call 1-800-myTrack. For information about myTrack's SDK, go to mytrack.com.
Track Data provides real-time financial market data, news, fundamental research, charting and analytical services to institutional and individual investors through dedicated telecommunication lines and the Internet. Additional information may be obtained by contacting Laurel Louison, Investor Relations, at 718-522-7373 or by e-mail: laurel_louison@tdc.com.
--------------------------------------------------------------------------------
Contact:
Laurel Louison, Investor Relations
718-522-7373
e-mail: laurel_louison@tdc.com. |
