Acquisition: Newstar Technologies e- finance division
Wire: ISDN DateStamp: 981109 08:19:21 Corporation: MPACT IMMEDIA
Stock Symbol: IFM Dateline: MONTREAL, QUEBEC Headline: BELL EMERGIS/MPACT IMMEDIA ACQUIRES THE E-FINANCE DIVISION OF NEWSTAR TECHNOLOGIES INC. Text:
Bell Emergis/MPACT Immedia, a leading provider of electronic
commerce services, today announced it has agreed to purchase the
assets of Newstar Technologies'' e-finance division. This
transaction will position Bell Emergis/MPACT Immedia as the top
electronic commerce service provider to Canadian banks.
The terms of the transaction state that $50 million will be paid
on closing, comprised of $32.5 million in cash with the balance
in common shares and options. In addition, other cash and share
consideration will be paid over the period ending October 1,
2000, which consideration is conditional upon performance. This
transaction is subject to regulatory approval and is anticipated
to close on or about December 14, 1998.
Newstar, based in Toronto, is a leading Canadian provider of
on-line electronic banking solutions to the financial industry.
It serves an international list of over four hundred financial,
commercial and public sector clients, including Canada''s major
banks and trust companies. Newstar''s highly qualified and skilled
workforce has developed outstanding expertise and is widely
respected in the Canadian banking industry.
"Newstar is a leading provider of e-commerce solutions to the
Canadian financial services industry and this acquisition clearly
strengthens Bell Emergis/MPACT Immedia''s already significant
suite of products and services offered within that sector" says
Rory Olson, Executive Vice President, Business Development, Bell
Emergis/MPACT Immedia. "Not only does Newstar''s e-finance group
bring a leadership position within the Canadian banking industry,
it also brings a bill payment solution capability that is
completely aligned with our own suite of products and services.
Through this acquisition, Bell Emergis/MPACT Immedia provides
more banking services than any other e-commerce company in
Canada."
"We have a close relationship with Newstar related to the
Canadian bill presentment opportunity," said Warren Dent, Senior
Vice President, TransPoint (Microsoft and First Data Corp.).
"This strong alliance, combined with Bell Emergis/MPACT Immedia''s
current market position, will fortify its ability to deliver
strong solutions to the market place."
Bell Emergis/MPACT Immedia will become part of the Newstar''s
announced plans with Microsoft to provide Canada''s financial
institutions with the first seamlessly integrated Internet bill
presentment and payment solution. This new on-line technology
benefits businesses and consumers and enhances the role of the
banks. The solution combines Newstar''s I2 technology with
Microsoft''s *BackOffice* family of products, along with bill
presentment software developed by TransPoint (a joint venture of
Microsoft and First Data Corp. to develop bill presentment
software).
Among the expertise of Newstar''s e-finance division, Bell
Emergis/MPACT Immedia will benefit from its tremendous knowledge
of electronic commercial processes, bill payment, Internet
banking, personalized marketing, and electronic bill presentment
products and innovations. Terry Ham, President of Newstar
Technologies'' e-finance division, stated, "This transaction
represents a significant step in Newstar''s growing presence in
the international marketplace. As a leader in the fast-paced
arena of e-commerce, Newstar is defining the next generation of
services offered by major financial institutions to their
customers. The scope of the combined product offerings from the
two companies will add significant value to the financial
services community."
Bell Emergis/MPACT Immedia delivers network-centric business
solutions that enable and become an integral part of customer
processes. Its e-commerce solutions enable organizations to
better compete in the global marketplace. Following its recently
concluded merger with the Electronic Business Solutions (EBS)
unit of Bell Emergis, Bell Emergis/MPACT Immedia is one of the
top tier electronic commerce providers in North America. Bell
Emergis/MPACT Immedia is a subsidiary of Bell Canada, the largest
Canadian telecommunications operating company. For more
information, please refer to www.mpactimmedia.com.
- end -
For more information:
Anne Belliveau Terry Ham
Corporate Communications President, e-Finance Division
Bell Emergis/MPACT Immedia Newstar Technologies Inc.
(514) 397-8535 (905) 707-4007
abelliveau@emergis.com hamt@newstar-tech.com
"Microsoft and BackOffice are either registered trademarks or
trademarks of Microsoft Corp. in the United States and/or other
countries. Other product and company names herein may be
trademarks of their respective owners." |
