The last straw, Jim, just hit my news. Notice no contact for Omicron. May it RIP...
(COMTEX) B: eCARmerce Inc., Acquires Radio Satellite Technology from
B: eCARmerce Inc., Acquires Radio Satellite Technology from Omicron
Technologies
ALTADENA, Calif., Aug 23, 2000 (BUSINESS WIRE) -- eCARmerce Incorporated, a
subsidiary of ViaSpace Technologies, announced that it has completed the
acquisition of certain radio satellite technology from Omicron Technologies,
Inc. (Pink Sheets:OGPS).
The radio satellite technology includes three patents which combine navigation,
broadcast and two-way communication services which will provide mobile users
with e-commerce, e-mail, travel, security, global positioning and gaming at a
relatively low cost. Potential markets for the services of eCARmerce include the
automotive, trucking, and recreational vehicle markets.
The technology was originally developed by Gary Noreen, an e-commerce
consultant, and incubated by ViaSpace Technologies. In October 1999, the
technology was sold to Omicron Technologies, Inc., based on commitments by
Omicron to fund the development of the technology and to hire a technical team
of experts for development.
Omicron subsequently failed to fund the development, and by early 2000, the
development of the technology was suspended and all of the technical and
management teams resigned. ViaSpace and others subsequently made claims against
Omicron seeking to rescind the transaction, based on fraud on other claims.
In this transaction, eCARmerce, a private company formed by ViaSpace and Gary
Noreen, acquired the technology from a subsidiary of Omicron. In return, the
Omicron subsidiary received stock equal to 25% of the outstanding shares of
eCARmerce and a forbearance by ViaSpace from pursuing claims against Omicron
arising from the October 1999 transaction.
About eCARmerce Incorporated
eCARmerce was formed to bring e-commerce to your car. eCARmerce is a private
company, operating as a subsidiary of ViaSpace Technologies LLC.
About ViaSpace Technologies
ViaSpace Technologies LLC is a Pasadena, CA area technology commercialization
company that specializes in bringing lower risk, advanced stage technologies
into the commercial marketplace. ViaSpace, a spin-off of the NASA/Caltech Jet
Propulsion Laboratory, currently operates four subsidiaries to spawn this type
of technology transformation. ECARmerce Inc., QWIP Technologies, SpectraSensors,
Inc., and ViaChange.com represent the first three commercialization efforts of
ViaSpace. Other technologies under development include infrared sensors,
internet-based exchanges, industrial gas sensors, optical networking
infrastructure, wireless infrastructure, fuel cells, and bioinformatics. For
more information on ViaSpace or their portfolio of companies, please e-mail
info@viaspace.com, or see www.viaspace.com.
CONTACT: The Bernhardt Agency, Inc. for ViaSpace
Mike Bernhardt, 503/384-0220
michaelb@bernhardtagency.com
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KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MERGERS/ACQ
COMPUTERS/ELECTRONICS
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