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Technology Stocks : Premiere Technologies (PTEK)
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To: M. Carver who wrote (445)1/14/1999 3:26:00 PM
From: Mr_X  Read Replies (3) of 1270
 
Here is the skinny - PTEK owns 14% of WEBMD, an Atlanta based medical information company backed by and 20% owned by HBO, now part of McKesson. Connection is that slippery Atlantam, Billy Payne of Olympics fame - he is on the board of PTEK and a director and investor in WEBMD. WEBMD is filing next week for their IPO thru Robby Stephens and Hambrect and Quist. Valuation will be int he $300 mil range, a modest premium to the last valuation that HBO poneyed up $10 mil at. This IPO will scream, probably will trade in the market north of $1 bil, giving PTEK $140 mil, or about 30% of its current market value in PTEK stock. Players in this saga include GKN, a NYbrokerage firm closely associated with high growth situations such as this, as well as NatWest bank of England, who has been nosing around WEBMD of late. Hold on for a DBCC like ride over the next month or two prior to the IPO.
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