Quebecor World and NURUN Form Strategic Alliance,
Alliance to Create Internet-Based Publishing Solutions
for Large Retailers and Publishers
MONTREAL, QUEBEC--JUNE 20, 2000--Mr. Charles Cavell, President and Chief
Executive Officer of Quebecor World and Mr. Jacques Malo,
President and Chief Executive Officer of NURUN Inc., announced
today that their companies have signed a memorandum of
understanding concerning a strategic agreement that will allow
Quebecor World to better serve its global customer base by
coupling the technology expertise of NURUN with the digital
capabilities of Quebecor World. Among other things, the
partnership with NURUN will allow Quebecor World to maximize the
benefit to its clients of the focused deployment of its digital
and pre-media assets through the recent creation of its
wholly-owned subsidiary, Que-Net Media. NURUN will also become a
preferred supplier of e-commerce and Web-based solutions for
Quebecor World. Closing is expected to occur by the end of July
and is subject to signing of definitive agreements and regulatory
approvals.
The five-year agreement will include a revenue commitment from
Quebecor World of US$40 million. Based on the principle of a
long-term commitment from Quebecor World, NURUN has agreed to
issue 500,000 units, each unit consisting of one share and one
5-year warrant convertible into a common share of NURUN, at an
issue price and exercise price, respectively, of CDN$40.00,
corresponding to the closing price of NURUN's common shares on
June 13, the day preceding approval of the transaction by NURUN's
Board of Directors. NURUN currently intends to use proceeds from
this share issuance of CDN$20 million for potential business
acquisitions in the area of automated publishing systems.
/T/
The three principal elements of the agreement include:
1. Joint Marketing Initiatives
Quebecor World and NURUN will develop joint marketing initiatives
with the objective of providing Quebecor World's clients access to
NURUN's full suite of e-commerce and Web-based automated
publishing solutions. NURUN's software expertise will complement
and enhance Quebecor World's pre-media product and service
offering.
2. NURUN as Preferred Supplier of Quebecor World
NURUN will become a preferred supplier of Quebecor World for
internal operations, including the development of Internet-based
applications, Internet sites, and the management of Quebecor
World's intranet. NURUN will therefore become a key partner of
Quebecor World in the development and deployment of new Web-based
corporate systems.
3. Development of Corporate E-commerce and IT Strategy
Quebecor World will mandate NURUN to develop a corporate-wide e-
commerce and IT strategic plan. This plan will outline the
strategy and the key projects needed for Quebecor World to
accelerate its use of the Internet as a strategic tool both
internally and externally. NURUN is already assisting Quebecor
World in rolling out its web-based global procurement system for
strategic resources such as ink and paper.
/T/
NURUN intends to partner with leading software vendors in each of
these categories, if and as required, to offer Quebecor World a
complete and best-in-class set of solutions.
"There is demonstrated value to an integrated approach to online
and traditional printed media," said Mr. Charles Cavell, President
and CEO of Quebecor World. "Our objective is to fully exploit the
potential of the Internet for our customers and shareholders
alike. I believe this agreement will provide the foundation for
new and innovative solutions that will benefit our clients. The
merger with World Color created the largest printer in the world.
It is now imperative that we develop and implement an information
technology strategy that wil allow Quebecor World to reach new
levels of operating efficiency."
Mr. Jacques Malo, President and CEO of NURUN, believes this
agreement clearly demonstrates NURUN's commitment to exploit the
full potential of its relationship with Quebecor's group of
companies. "Our vision is to become the leading provider of
Internet-based automated publishing and catalog management
solutions for the benefit of Quebecor World's clients. We intend
to accelerate our expansion in this particular area and our
acquisition program will target innovative providers of solutions
in these areas."
"Quebecor strongly believes that there are unique synergies to be
achieved between companies like Quebecor World and NURUN," said
Pierre-Karl Peladeau, President and CEO of Quebecor Inc. "Our
worldwide clients are moving rapidly to the Internet as a new
channel for product delivery. While print media remain a key
element of their strategy, they are looking for integrated Web
solutions as well. Quebecor, Quebecor World and NURUN represent a
unique opportunity for our clients in this regard."
The memorandum of understanding was reviewed by a Special
Committee composed of independent members of NURUN's Board of
Directors.
Quebecor World Inc.
Quebecor World Inc. (NYSE, TSE: IQW) is the largest commercial
print media services company in the world. The Company is a
leader in most of its major product categories, which include
magazines, inserts and circulars, books, catalogs, specialty
printing and direct mail, directories, digital pre-media,
logistics, mail list, technologies and other value added services.
The Company has over 40,000 employees working in more than 160
printing and related facilities in the United States, Canada,
France, the United Kingdom, Spain, Germany, Austria, Sweden,
Finland, Chile, Argentina, Peru, Colombia, Mexico and India.
NURUN Inc.
NURUN Inc. (TSE: IFN), a subsidiary of the Quebecor Inc. group, is
an information technology company providing e-commerce, Web
integration and automated publishing solutions for corporate and
public sector clients in North America, Europe and select
locations around the world. NURUN employs more than 1,100
professionals in its various offices in Montreal, Quebec, Toronto,
Ottawa, Seattle, New York, Boston, Chicago, Santiago and Paris.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Quebecor World
Charles Cavell
President and Chief Executive Officer
(514) 954-5185
or
Quebecor World
Claire Lanctot
Special Projects
(514) 877-5191
or
NURUN Inc.
Jacques Malo
President and Chief Executive Officer
(514) 392-1292
or
NURUN Inc.
Diane Labelle
Vice President, Communications
(514) 392-4341
diane.labelle@nurun.com
www.nurun.com
JUNE 20, 2000
Quebecor World and NURUN Form Strategic Alliance,
Alliance to Create Internet-Based Publishing Solutions
for Large Retailers and Publishers
MONTREAL, QUEBEC--Mr. Charles Cavell, President and Chief
Executive Officer of Quebecor World and Mr. Jacques Malo,
President and Chief Executive Officer of NURUN Inc., announced
today that their companies have signed a memorandum of
understanding concerning a strategic agreement that will allow
Quebecor World to better serve its global customer base by
coupling the technology expertise of NURUN with the digital
capabilities of Quebecor World. Among other things, the
partnership with NURUN will allow Quebecor World to maximize the
benefit to its clients of the focused deployment of its digital
and pre-media assets through the recent creation of its
wholly-owned subsidiary, Que-Net Media. NURUN will also become a
preferred supplier of e-commerce and Web-based solutions for
Quebecor World. Closing is expected to occur by the end of July
and is subject to signing of definitive agreements and regulatory
approvals.
The five-year agreement will include a revenue commitment from
Quebecor World of US$40 million. Based on the principle of a
long-term commitment from Quebecor World, NURUN has agreed to
issue 500,000 units, each unit consisting of one share and one
5-year warrant convertible into a common share of NURUN, at an
issue price and exercise price, respectively, of CDN$40.00,
corresponding to the closing price of NURUN's common shares on
June 13, the day preceding approval of the transaction by NURUN's
Board of Directors. NURUN currently intends to use proceeds from
this share issuance of CDN$20 million for potential business
acquisitions in the area of automated publishing systems.
/T/
The three principal elements of the agreement include:
1. Joint Marketing Initiatives
Quebecor World and NURUN will develop joint marketing initiatives
with the objective of providing Quebecor World's clients access to
NURUN's full suite of e-commerce and Web-based automated
publishing solutions. NURUN's software expertise will complement
and enhance Quebecor World's pre-media product and service
offering.
2. NURUN as Preferred Supplier of Quebecor World
NURUN will become a preferred supplier of Quebecor World for
internal operations, including the development of Internet-based
applications, Internet sites, and the management of Quebecor
World's intranet. NURUN will therefore become a key partner of
Quebecor World in the development and deployment of new Web-based
corporate systems.
3. Development of Corporate E-commerce and IT Strategy
Quebecor World will mandate NURUN to develop a corporate-wide e-
commerce and IT strategic plan. This plan will outline the
strategy and the key projects needed for Quebecor World to
accelerate its use of the Internet as a strategic tool both
internally and externally. NURUN is already assisting Quebecor
World in rolling out its web-based global procurement system for
strategic resources such as ink and paper.
/T/
NURUN intends to partner with leading software vendors in each of
these categories, if and as required, to offer Quebecor World a
complete and best-in-class set of solutions.
"There is demonstrated value to an integrated approach to online
and traditional printed media," said Mr. Charles Cavell, President
and CEO of Quebecor World. "Our objective is to fully exploit the
potential of the Internet for our customers and shareholders
alike. I believe this agreement will provide the foundation for
new and innovative solutions that will benefit our clients. The
merger with World Color created the largest printer in the world.
It is now imperative that we develop and implement an information
technology strategy that wil allow Quebecor World to reach new
levels of operating efficiency."
Mr. Jacques Malo, President and CEO of NURUN, believes this
agreement clearly demonstrates NURUN's commitment to exploit the
full potential of its relationship with Quebecor's group of
companies. "Our vision is to become the leading provider of
Internet-based automated publishing and catalog management
solutions for the benefit of Quebecor World's clients. We intend
to accelerate our expansion in this particular area and our
acquisition program will target innovative providers of solutions
in these areas."
"Quebecor strongly believes that there are unique synergies to be
achieved between companies like Quebecor World and NURUN," said
Pierre-Karl Peladeau, President and CEO of Quebecor Inc. "Our
worldwide clients are moving rapidly to the Internet as a new
channel for product delivery. While print media remain a key
element of their strategy, they are looking for integrated Web
solutions as well. Quebecor, Quebecor World and NURUN represent a
unique opportunity for our clients in this regard."
The memorandum of understanding was reviewed by a Special
Committee composed of independent members of NURUN's Board of
Directors.
Quebecor World Inc.
Quebecor World Inc. (NYSE, TSE: IQW) is the largest commercial
print media services company in the world. The Company is a
leader in most of its major product categories, which include
magazines, inserts and circulars, books, catalogs, specialty
printing and direct mail, directories, digital pre-media,
logistics, mail list, technologies and other value added services.
The Company has over 40,000 employees working in more than 160
printing and related facilities in the United States, Canada,
France, the United Kingdom, Spain, Germany, Austria, Sweden,
Finland, Chile, Argentina, Peru, Colombia, Mexico and India.
NURUN Inc.
NURUN Inc. (TSE: IFN), a subsidiary of the Quebecor Inc. group, is
an information technology company providing e-commerce, Web
integration and automated publishing solutions for corporate and
public sector clients in North America, Europe and select
locations around the world. NURUN employs more than 1,100
professionals in its various offices in Montreal, Quebec, Toronto,
Ottawa, Seattle, New York, Boston, Chicago, Santiago and Paris.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Quebecor World
Charles Cavell
President and Chief Executive Officer
(514) 954-5185
or
Quebecor World
Claire Lanctot
Special Projects
(514) 877-5191
or
NURUN Inc.
Jacques Malo
President and Chief Executive Officer
(514) 392-1292
or
NURUN Inc.
Diane Labelle
Vice President, Communications
(514) 392-4341
diane.labelle@nurun.com
www.nurun.com |
