Jones Naughton Announces Acquisition of Information Technology Business
LOS ANGELES--(BUSINESS WIRE)--March 24, 1998--Joe Naughton, chairman of Jones Naughton Entertainment Inc., (OTC BB: JNNE - news) Tuesday announced that it has signed a definitive agreement to acquire all the assets of the Community Marquee operating division from Sign Products of America Inc., a privately held California-based company.
Financial terms were not disclosed. Further announcements should be expected regarding revenue projections and cash flow in the future.
Community Marquee operates audio visual information systems custom- designed to provide free, instant and site-specific information to consumers. Currently, numerous systems are now in operation in colleges and universities in Southern California. Companies pay a fee for an illuminated display panel on the system. Consumers can then immediately contact the company to inquire about available goods and services through an integrated telephone-based communication system.
''This acquisition provides a solid foundation for Jones Naughton to enter the information technology arena. The unique and innovative design of these systems enable consumers to be instantly connected to any one of a number of businesses offering goods and services through the Community Marquee system,'' said Naughton. The systems now in operation can be readily adapted to a myriad of applications outside the university markets. Convention centers, shopping malls, amusement parks, sports arenas, airports, bus terminals, train stations and any public or community location is a natural fit for the Community Marquee system.
''Taking this information system and combining computer telephony, interactive voice response and computerized database creation will generate a tremendous amount of added value for the advertisers. Major companies are always looking for efficient, cost-effective and novel approaches to communicating with potential customers. The Community Marquee system uniquely meets this need in the market place,'' added Patrick M. Rost, director of Business Development and Corporate Communications, the chief architect of this acquisition. Current subscribers to the system include the U.S. Army Recruitment Offices, Enterprise Rental Car, Great Western Savings, National University, Manpower Inc. [NYSE:MAN - news], Temporary Employment Agency, Round Table Pizza and a host of independent businesses. Major plans are in works to rapidly expand the locations of the Community Marquee system.
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Contact:
Jones Naughton Entertainment
Joseph Naughton, 714/736-0988
www.JNNE.com
Patrick M. Rost, 760/634-7624 or 888/847-5663
OR
Automated Shareholder Communication System,
888/209-7223 |
