Go2Net Acquires IQC.com
PR Newswire - May 14, 1999 08:45
Adds Comprehensive Real-Time Financial Charting and Technical Research
Capabilities to Silicon Investor
SEATTLE, May 14 /PRNewswire/ -- Go2Net, Inc. (Nasdaq: GNET), a
network of branded, technology- and community-driven Web sites (
go2net.com ), today announced the acquisition of IQC.com (
iqc.com ) for approximately $20 million in Go2Net stock. The
transaction is effective immediately and brings Go2Net a powerful suite of
free and subscription-based financial analysis and real-time charting
services, which it will fully integrate with Go2Net's Silicon Investor (
siliconinvestor.com ), the Web's premier financial discussion
site.
IQC's subscription-based IQ Chart includes robust, real-time technical
charts, which continuously monitor market indices and individual company
performances, updating automatically every minute throughout the trading
day. IQ Chart also offers Technical Stock Scan, enabling investors to locate
individual stocks based on criteria they select and customize, from more
than 100 variables such as technical indicators, fundamental company
information, price and volume. Additionally, IQC Chart features IQC Zone,
a proprietary stock indicator designed to minimize false signals in volatile
market conditions. Using an artificial intelligence algorithm back-tested over
30 years of historical data, IQC Zone displays color-coded bullish and
bearish signals for any stock a user selects. IQC Chart is the world's first
100% pure Java-based financial analysis tool and is available for $24.95
per month.
"This is a significant step in establishing Silicon Investor as the Web's
destination of choice for sophisticated investors, adding some of the most
timely and technically advanced financial research capabilities available
anywhere," said Russell C. Horowitz, Go2Net CEO. "The number one
request for product improvement related to Silicon Investor has been for
comprehensive financial charting and equity tracking opportunities. We
believe Silicon Investor's loyal base of users will find tremendous value and
utility in what IQC brings."
Also to be integrated with Silicon Investor, IQC's free-of-charge offerings
include comprehensive and continuously updated basic stock charts and
tracking summaries of the world's financial indices, including major,
secondary, U.S. and international exchanges. The free charts provide
technical analysis of all publicly traded companies, along with price history
charts covering time increments ranging from every five minutes to monthly.
IQC also provides 'Top 10' listings in an array of categories, including the
financial markets' most active, biggest gainers (price and percentage) and
biggest losers (price and percentage), among other areas.
About Go2Net, Inc.
Go2Net is a network of branded, technology- and community-driven Web
sites focused on the following categories: personal finance, search,
commerce, and games. The company also develops Web-related software.
The Go2Net Network's properties include: Go2Net Personal (
go2net.com ), which provides users with a comprehensive
Internet start page offering customizable news, discussion, and stock
information, as well as direct access to Go2Net's own finance, search, free
Web hosting, shopping and Java multiplayer game sites; Silicon Investor (
siliconinvestor.com ), the Web's premier financial discussion
site; StockSite ( stocksite.com ), which offers proprietary
articles, portfolio tracking tools, company research and news relating to
business and finance; MetaCrawler ( metacrawler.com ), a
metasearch service that combines various existing search/index guides into
one service; 100hot ( 100hot.com ), a leading directory of the
Web's most popular sites; HyperMart ( hypermart.net ), the
Web's leading provider of free business hosting services; Haggle Online (
haggle.com ), one of the Web's premier person-to-person
auction services; WebMarket (http://www.webmarket.com), a one-stop
comparison shopping service; and PlaySite ( playsite.com ), the
Web's premier Java-based multi-player games site. The company's Go2Net
Labs division develops innovative technologies to enhance the features and
functionality of the Go2Net sites and for licensing to other Internet
companies.
This announcement contains forward-looking statements that involve risks
and uncertainties, including those relating to the company's ability to grow its
user and advertiser base. Actual results may differ materially from the results
predicted and reported results should not be considered as an indication of
future performance. The potential risks and uncertainties include, among
others, the company's limited operating history, the competitive environment
in which the company competes, the early stage of the Web as an
advertising and electronic commerce medium, the company's dependence
on advertising and sponsorship revenues, the company's dependence on
strategic relationships to drive traffic to its Web sites, consumer acceptance
of the company's new products and services, the company's ability to
develop and integrate new technologies and services into its existing
services, and the increased use of the Web for commerce. More
information about the potential factors that could affect the company's
business and financial results is included in the company's Annual Report on
Form 10-K for the year ended September 30, 1998 and Quarterly Reports
on Form 10-Q for the quarters ended December 31, 1998 and March 31,
1999, which are on file with the Securities and Exchange Commission.
CONTACT: Mark S. Peterson, Director of Public Relations of Go2Net,
Inc., 206-447-1595, or mark@go2net.com/
SOURCE Go2Net, Inc.
/CONTACT: Mark S. Peterson, Director of Public Relations of Go2Net,
Inc.,
206-447-1595, or mark@go2net.com/
/Web site: iqc.com
go2net.com
(GNET) |
