FVSN, news overlooked today, imo.
Foodvision.com Acquires New Generation Proprietary Software Creating Additional Revenue Potential
ATLANTA--(BUSINESS WIRE)--Aug. 28, 2000--Foodvision.com (OTCBB:FVSN), announces that on July 25, 2000 the Company acquired "GLUE", a new generation application technology for e-commerce.
GLUE provides an easy, fully integrated shopping experience for the consumer while providing complete flexibility, accountability, and product tracking for the e-commerce provider. Glue is a cutting-edge interface-based framework designed around current leading technologies.
The technology is XML-based being completely scalable and responsive to other technologies. Thus, GLUE allows the use of multiple vendors within one e-commerce shopping environment while providing the customer with one easy check-out experience.
Asked why the Company decided to acquire this new generation technology, Paul R. Smith, Chairman and CEO stated: "Foodvision is about to enter into a new growth phase of e-commerce revenue. The Company was faced with licensing a Universal Shopping Cart technology that did not meet the needs of the Company. Additionally, the expense of licensing this technology was not cost justified. We were fortunate to find the GLUE technology just before it went to market. The acquisition of GLUE not only provides the Company with its own shopping solution, it opens up the opportunity to license this technology to other e-commerce providers."
Raj Kalra, President and CIO comments: "GLUE is one of the most sophisticated e-commerce tracking systems in the world. Online shoppers can collect consumer items from any number of online e-commerce sites using XML technology, save the items in one shopping cart, view the cart's contents, and purchase any or all of the items at any time with just one click. The customer only has to use one credit card, one time for these multiple purchases. More impressively for e-commerce providers, the GLUE technology allows the provider to program their use with virtual ease on a template format. This technology is able to allocate one credit card payment to multiple vendors, thus eliminating accounts receivable. GLUE manages multi-inventories in any manner required by the e-commerce provider or vendor. It can track Internet and traditional retail inventories at the same time, thus streamlining inventory management for click and mortar Internet companies. GLUE can track in any currency. One of the technology's most impressive features is its ability to learn the buying behavior of customers who frequently purchase on the Internet. This feature not only improves the consumers buying experience, it greatly assists the e-commerce provider in merchandising, promotion, and inventory control."
Foodvision will first integrate the GLUE technology into the Company's e-commerce sites. Foodvision then intends to license this technology to other e-commerce providers, thus, creating a new revenue and profit center for the Company.
About Foodvision.com
Foodvision.com (OTCBB:FVSN), launched in November 1999, is the Internet's one-stop food portal where consumers and food professional can satisfy all of their food needs without leaving the site. The site is targeted to the general public interested in all related food topics and food service professionals interested in all food business related issues.
Foodvision.com includes hot topics, recipes of the day and week; restaurant reviews, creating interesting menus, restaurant design and financing, cooking schools etc. Foodvision.com, Inc., is a food-specific Internet information provider and Portal Company that integrates traditional business systems in food and beverage operations with leading-edge technologies in Internet systems.
The linking of substantial expertise in food establishment operations and state-of-the-art Internet business provides the shareholders and partners of foodvision.com with a solid financial base and the exciting growth potential.
Foodvision.com can be found at foodvision.com.
The statements contained in this release, which are not historical facts, may be deemed to contain, forward-looking statements, including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items.
Actually results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing, or other factors. Deviation may result from risk, uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital, and other risk and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement.
CONTACT:
Foodvision.com
Jason Smith, 770/690-8385
or
Columbia Financial Group
Brokers and Analysts contact:
Dennis Sulkowski, 888/301-6271 |
