(COMTEX) B: Digital Bridge Completes Key Mergers and Acquisition; Closes Transactions with 24x7 Development.com, Inc., Online Television Network Services, and N2Plus, Inc.
Digital Bridge is a successful spin-off from M&A West (OTC/BB: MAWI mawest.com\), a profitable Internet Incubator, who owns a significant stake in Digital Bridge
PHOENIX, Sep 20, 2000 (BUSINESS WIRE) -- Digital Bridge, Inc. (OTCBB:DGBI), a global "eBusiness Builder", announced today the completion of the Company's previously announced mergers with 24x7 Development.com, Inc. and N2Plus, Inc.,
and the acquisition of Online Television Network Services("OTVnet").
As a result, the combined entity has significantly enhanced its Venture Technology services, empowering clients with the rapid deployment of electronic business initiatives "concept to click" through a suite of Internet Business applications and services.
Upon closing of the transactions, the Company's new corporate headquarters is Phoenix, Arizona, with offices
in Burlingame, California, and San Diego, California. John C Flanders, Jr. has assumed full responsibilities as Chief
Executive Officer effective immediately.
John C Flanders, Jr., CEO of Digital Bridge stated, "With the finalizing of our transactions, we can now focus on fully integrating the new units and leveraging their respective technologies. All three of these companies
make strategic and unique contributions to Digital Bridge. 24x7 Development is a seasoned developer of global, multi-lingual Internet businesses. N2Plus brings a wealth of experience in the areas of eCommerce, and OTVnet, as part of our Venture Technology program, provides a leading online HR solution for the unionized community. We will continue to enhance our technology and services through internal and external growth."
About 24x7 Development
24x7 is a Delaware corporation based in Phoenix, Ariz. and is seasoned in developing global, multi-lingual, high-end web businesses. Prior to June 5, 2000, the Company was the internal development arm for GlobalNetFinancial.com
(Nasdaq:GLBN). Over the past 18 months, 24x7 has developed and matured many North American and European award-winning financial media, online trading and corporate web sites. Since its separation from GlobalNetFinancial, it has
continued to work with Globalnet and add several other companies to its portfolio of global eBusinesses.
About N2Plus
The company's flagship product, n2PlusSynergy(TM), helps businesses create private labeled, instant online eCommerce stores in a fully integrated solution. n2PlusSynergy(TM) will complement Digital Bridge's suite of Internet Business
Applications, enabling business aggregators, portals and Web developers to better serve, monetize and retain their customers. Founded in 1997 by award winning technologist Brian Pollack, n2Plus is a business to business application
service provider. Since 1997, the Phoenix, Arizona-based company's products and services have helped nearly 1,000 satisfied customers establish an eCommerce presence.
About OTVnet
Founded in 1996, OTVnet designs and manages comprehensive Human Resource Systems for the unionized construction industry. Specifically, in the design and development of benefits specific Internet sites for multi-employer union
pension/health and welfare trusts organizations. Through this development, OTVnet has created an industry leading Benefits Trust Web product and is positioning itself to serve unionized trade organizations nationwide.
About Digital Bridge
Digital Bridge is a global "eBusiness Builder," which provides Internet enterprise solutions through a suite of
applications and professional services, empowering business from "concept to click". For both emerging and expanding
companies, Digital Bridge provides a cost effective technology service through an equity participation plan
entitled Venture Technology. Our Venture Technology
portfolio partners are supplied human capital in the form of technology resources, intellectual properties and
infrastructure.
Digital Bridge was a spin-off from M&A West Inc. (OTC:MAWI) which remains as a significant shareholder and partner. Digital Bridge, Inc.'s corporate headquarters are in Phoenix, Arizona, with offices in Burlingame, California.
The Company's wholly owned subsidiary, OTVnet, is headquartered in San Diego, California.
Additional information can be found at digitalbridge.com.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Digital Bridge Incorporated
Seth Pollack, 623/773-3644
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