NEWS NEWS
ConSyGen and Notremos Announce Terms of Joint Venture, Biz Pay Australia,
Valued at $20 Million US
TEMPE, Ariz., May 4, 2000 /PRNewswire via COMTEX/ -- ConSyGen, Inc. (OTC
Bulletin Board: CSGI) and its wholly owned subsidiary BizPay International, Inc.
announced today that their Australian partner, Notremos Corporation Pty. Ltd.
and its wholly owned subsidiary MCorp.com.au, will invest AUD $15 million cash
($10 million USD) into BizPay Australia, Inc., a joint venture previously formed
between ConSyGen and Notremos. BizPay International will provide its BizPay(TM)
e-commerce technology, valued for the Australian market at $10 million USD, and
backup technical support to the joint venture. The agreement calls for BizPay
International to provide an exclusive license to BizPay Australia, Inc. for the
purpose of introducing the BizPay(TM) payment technology in Australia. The AUD
$15 million investment will provide funding to cover initial implementation and
marketing costs. Notremos and ConSyGen will each own 50% of the newly formed
company.
Rick Somerton, Chairman and founder of Notremos stated, "BizPay(TM) will be the
first full-service email-based payment solution in Australia. The reception by
the Australian business community to BizPay(TM) has been exceptional. We have
already secured the support of some of Australia's leading E-tailers and
discussions with one of our leading banks is going very well." Somerton
continued, "For management support we have brought in the international global
strategy consulting firm of Bain and Company and Australia's leading law firm
Allen, Allen and Hemsley. Bain and Company has already evaluated our business
model and software and is very excited with the results and our potential. We
recognize this as a billion dollar opportunity and we are committed to
surrounding ourselves with the best support team possible to speed our entry
into the market."
Jason Genet, ConSyGen's Chief Operating Officer stated, "The signing of this
agreement is a historic event for us signifying that the new ConSyGen is well on
its way to becoming a major influence in mobile commerce and in the field of
evolving technologies. This is the first of several deals that we are presently
negotiating for BizPay(TM) and the acceptance of this technology will have a
global impact on the way e-commerce payments are transacted."
About ConSyGen, Inc.
ConSyGen's business is customer-driven, technology-influenced and
service-oriented, coupled with world-class software development. In order to
achieve the core company goals, various business units have the responsibility
for developing cohesive missions, quantifiable objectives and comprehensive
strategies. These business units include E-Commerce, Internet Services, and
Business Products.
About Notremos Corporation
Notremos Corporation was established in 1999 to seek out attractive Internet
business opportunities in Europe and the United States and to replicate the
businesses in Australia, in partnership with the international companies. The
principals of Notremos Corporation are: Rick Somerton, who has over 20 years
banking experience at Salomon Smith Barney and Westpac and who established
Australia's first online travel agency. Steven Clarke who has over 20 years
business experience specializing in financial management and Stuart Dykstra an
award winning marketing advisor and founding partner of incentive marketing
company Inmark.
Forward-looking statements involve risks and uncertainties that may cause actual
results to differ materially from those projected in such forward-looking
statements. Factors which could affect results include the development of
competing or superior technologies, market awareness, acceptance of ConSyGen's
technology or products, overall market demand for conversion services, the
company's ability to attract and retain qualified personnel, the companies
ability to protect its propriety information and other risk factors set forth in
the company's SEC filings.
Contact: Jason Genet of ConSyGen, Inc., 480-394-9100, www.consygen.com ; or Rick
Somerton of Notremos Corporation Pty. Ltd, 011-6129326-5097, www.notremos.com.au
.
SOURCE ConSyGen, Inc.
(C) 2000 PR Newswire. All rights reserved.
http://www.prnewswire.com
CONTACT: Jason Genet of ConSyGen, Inc., 480-394-9100; or Rick Somerton
of Notremos Corporation Pty. Ltd, 011-6129326-5097 |
