Post says Schwab invests in RDM startup Xign
RDM Corp RC
Shares issued 8,883,584 Jun 20 close $4.10
Wed 21 Jun 2000 In the News
Also (U:SCH)
The National Post reports in its Wednesday edition that Charles Schwab,
founder of the leading brokerage that bears his name, has invested
$3-million (U.S.) of his own money on a startup owned by an Ontario firm
that provides electronic payment software and products. The Post's David
Arkin writes that Xign Inc. of Pleasantville, Calif., a subsidiary of RDM,
said Mr. Schwab, chairman of Schwab Corp. of San Francisco, bought 2.83
million convertible preferred shares of Xign to own 16 per cent of the
company. RDM owns the balance. He will also become a director. Xign was
spun off from RDM this month to market RDM's digital signature technology,
which lets users send electronic cheques via E-mail. Xign's eCheck payment
software is used by the U.S. Department of Treasury. "The flexibility and
scope of application of Xign's payment solution is very exciting," Mr.
Schwab says. Xign, to date private and which is looking for a chief
executive, also hopes to find additional investors.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com |
