Birds of a feather?->ZiaSun Enters into an Agreement to Acquire Two Asian-Based Internet ServiceProviders to Bolster Its Internet Service Capabilities
SOLANA BEACH, Calif., June 6 /PRNewswire/ -- ZiaSun Technologies Inc., (OTC Bulletin Board: ZSUN) (www.ziasun.com), today announced it is acquiring two companies, Asia Prepress Technology, Inc., an Internet-based provider of electronic book and document conversion and data entry services, and Asia Internet Services, Inc., an Internet-based provider of background customer service for its client's websites. The combined cash and stock transaction value is approximately $2 Million.
These acquisitions are expected to add approximately $1.5 million to consolidated revenues in 2000, and $3.5 to $5.5 million in 2001. The US headquarters for both Asia Prepress Technology and Asia Internet Services are in Glen Burnie, MD. Both companies also have established, well-managed operations in the Philippines, where they employ over 300 skilled workers, to reap the benefits of the low-cost, highly-educated and abundant labor force available there.
Asia Prepress provides a true 24/7 keyboarding operation for conversion of books and other hard-copy documents into a searchable electronic format via the Internet. It is a profitable company, with an established customer base and excellent future growth opportunities. Asia Internet Services provides a true 24/7 response center for its background website customer service, wherein they become the first point-of-contact response for any inquiries to a given customer's website. They are strongly positioned to capitalize on this new e-commerce growth sector. "These acquisitions are a hand-in-glove fit with the other Internet services provided by ZiaSun's subsidiary Momentum Asia, Inc. ("MAI"), and effectively bolsters the ongoing viability of MAI, commented ZiaSun President and CEO Allen D. Hardman.
Patrick Cox, president of Asia Prepress stated, "Asia Prepress has received large new contracts for the production of e-books, a field with almost unlimited potential. This surge in business, combined with ZiaSun's resources, will enable us to quickly build our operations to meet this growing demand. Based on our evaluation of this deal, we are confident that all companies involved will achieve faster value-added growth as a result of the acquisitions."
"MAI's overall Internet-based service operations, along with the services provided by Asia Prepress and Asia Internet Services, makes it possible to deliver the best possible support to users of both our own and our customer's websites. At the same time, MAI provides an opportunity for smaller companies to outsource their labor-intensive Internet needs, allowing them to take advantage of the same efficiencies that AOL, Andersen, and others are enjoying," explained MAI President Eric Montandon.
The Philippines has become a leading center for companies seeking to perform labor-intensive operations in a low-cost environment with abundant skilled labor. America On-line, Andersen Consulting, Caltex, and Procter and Gamble have Philippine-based staff handling administrative and customer-response services. AOL has substantially increased the staff at its Philippine customer service facility, located in the same Clark Special Economic Zone as Momentum Asia, Asia Prepress and Asia Internet Services. AOL has reported that their Philippine operation has reduced e-mail customer service costs by 40%, and they will soon have consolidated all U.S., U.K., Hong Kong and Australia customer support operations to the Philippines.
ZiaSun Technologies, Inc. is a leading Internet technology holding company focused on international investor education and e-commerce and specialized online support services within North America, Asia and other international markets. The Company's portfolio includes: Online Investors Advantage (www.i-advantage.com), Momentum Asia, Inc. (www.momentumasia.com), ServiceLive (www.servicelive.com), Momentum Internet, Inc. (www.momentumplus.com), PINmail (www.pinmail.com), MEDIAhits (www.mediahits.com), Swiftrade (www.swiftrade.com), AsiaEnet Ltd. (www.asiaenet.com), Tigertooth (www.tigertooth.com), Search Dragon (www.searchdragon.com), M Finance (www.mfinance.com -- a top-100 financial website), and a 19% equity position in Asia4Sale (www.asia4sale.com).
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that my be considered forward-looking statements could be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. These include uncertainties in the market, competition, legal, success of marketing efforts and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release.
SOURCE ZiaSun Technologies, Inc.
CO: ZiaSun Technologies, Inc.; Asia Prepress Technology, Inc.; Asia Internet Services, Inc.; Momentum Asia, Inc.
ST: California, Maryland, Philippines
IN: MLM PUB
SU: TNM
06/06/2000 06:00 EDT prnewswire.com |
