RDI Marketing Inc. Signs DefinitiveLetter of Intent to Acquire Thunderstick Software
February 5, 1999 11:30 AM
BLOOMFIELD, Conn.--(BUSINESS WIRE)--Feb. 5, 1999--RDI Marketing Inc. RDIM announced Friday that they have signed a definitive Letter of Understanding which will allow the company to acquire Thunderstick Software LLC, a Delaware company, headquartered in Oxford, Conn.
Thunderstick Software is a prime provider of advanced system design engineering and e-commerce application software for such notable clients as MCI/WorldCom's Internet division, UUNET, National TeleCommunications, and the global extra-net for Satchi and Satchi with customized integration for their client base including Delta Airlines, Hewlett Packard, Toyota, Rothman, and numerous others. Terms of the agreement were not disclosed.
The President of Thunderstick, Alfred Werner, who currently serves as the vice president of technology for RDI Marketing, has agreed to combine the historical business, contracts and forward-going relationships into a new subsidiary for RDI Marketing. The company will seek through this new core division, additional technology acquisitions that contribute to advancing the agenda of the company as a leader in the next generation of e-commerce applications.
Through the new relationship Thunderstick will become the primary designer of engineering for the second-generation e-commerce software programs being instituted by RDI Marketing. This software-engineering venture will fulfill the programming and e-commerce requirements of all of the partners/suppliers within RDI Marketing. The company has generated substantial interest in the new Internet technology applications, which is positioned to provide interactive consumer shopping comparisons among manufacturers. This ability will enhance the consumer shopping experience while making the web more user friendly and interesting.
Based upon historical revenues of Thunderstick, revenues within the division are expected to reach $15 million within the first 18 months of the relationships.
RDIM also wishes to thank those attendees at the Las Vegas conference. As a result of the conference, the company was able to sign a definitive Letter of Understanding with Personal Consumers Services (PCS), which, subject to the final results of the audits, should contribute an additional $7 million in revenues to the company.
At the Las Vegas conference, RDIM also met with other attendees, representing nine additional Wholesale Club locations who have expressed an interest joining the RDIM team.
The Las Vegas convention was the first time that the investors and partners of RDIM had an opportunity to preview the second generation of interactive e-commerce technology featuring RDIM's leading edge Avatar technology. This new technology is expected to capitalize on the continual successful evolution of the current e-commerce enthusiasm, success and expansion.
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