Acquisition Triples Creative Content
TORONTO, April 20 /CNW/ - Warp 10 Technologies (NASDAQ:
WARP, CDN: WARP) owner and operator of www.adsgallery.com today
announced that it has acquired the website www.portfolios.com.
The acquisition will accelerate the expansion of
adsgallery.com's Internet based business-to-business
interactive advertising portfolio by leveraging
Portofolios.com's existing relationships with leading
advertising professionals and interactive marketers.
Portfolios.com is a leading online directory used by
advertising and creative professionals as a source and showcase
of photographers, illustrators, graphic designers, animators
and interactive multimedia artists.
"The acquisition of Portfolios.com is a perfect fit with
our business, as we continue to grow our position as the
leading interactive showcase for creative portfolios. Our goal
is to establish Adsgallery.com as the premier online
information medium, offering a forum for creative and
advertising professionals, media vendors and their clients to
collaborate, interact with one another and transact business.
The combination of Portfolios.com with Adsgallery.com helps us
accelerate our goal by adding its membership base, traffic,
interactive portfolios and brand to Adsgallery.com. In turn,
Portfolios.com will benefit from the application of Warp 10's
leading digital asset management technology" said Marvin
Igelman, president and CEO of Warp 10 Technologies Inc.
Igelman continued, "By leveraging Portfolios.com's existing
contracts and relationships, along with the company's seasoned
management and sales force, Warp 10 will expand its presence in
this fast growing market."
Adsgallery.com is the leading interactive showcase for
advertising portfolios. The combined market penetration
positions Adsgallery.com as the dominant online resource for
creative and marketing professionals alike.
The acquisition of Portfolios.com was a cash transaction.
In addition, Warp 10 has assumed all of management and key
employees.
About Warp 10 Technologies
Warp 10 Technologies Inc. owns and operates
www.Adsgallery.com, the interactive portfolio of advertising
worldwide which was recently launched. Through
www.Adsgallery.com, Warp 10 intends to create a comprehensive,
business-to-business online service that addresses the needs of
advertising professionals, interactive marketers and brand
managers for content, community and commerce. Warp 10 intends
to generate revenue from Adsgallery.com through advertising
sales, site sponsorship and e-commerce transactions from its
community.
This press release may contain forward-looking statements
relating to Warp 10 Technologies Inc. Among the important
factors that could cause actual results to differ materially
from those indicated by such forward-looking statements as
delays in product development, undetected software errors and
bugs, competitive pressures, technical difficulties, market
acceptance, changes in customer requirements and general
economic conditions. Shares issued as of April 20, 1999 -
25,686,965.
%SEDAR: 00008019E
/For further information: Lois Whitman, Karen Gaynin, HWH
Public Relations, 1414 Avenue of the Americas, New York, NY
10019, 212-355-5049/ |
