Keith:
Keep an eye on C.WEB .. had some good news yesterday.
CALGARY, May 20 /CNW/ - Net Shepherd Inc. (ASE: WEB), and idealab!
announced today the signing of a Letter of Intent by which Net Shepherd will
acquire 100% interest in Answers.com, currently operating from idealab!'s
Pasadena, California headquarters. Answers.com will utilize Net Shepherd's
community technology to employ people's talents on the Internet to provide
answers to questions in a wide range of business and consumer applications.
Net Shepherd will acquire its interest in Answers.com by issuing 400,000
shares of Net Shepherd stock to idealab! Bill Fogg will take over as the CEO
of Answers.com and will lead the development of the entity. Bill Gross,
Chairman and Founder of idealab! said: ''The Community Management Technology
of Net Shepherd will add substantial value to Answers.com. The technology will
improve the quality and speed of the service while reducing the cost of the
responses generated.''
Don Sandford, CEO of Net Shepherd added ''Working together, the two
entities will make this venture a high-growth business and service that will
lead the world in providing high-quality responses for both the consumer and
business markets''.
The two entities plan to formalize an agreement in the next 60 days. Net
Shepherd Inc. is a world leader in Web-inspired commercial solutions for
traditional and Internet businesses. The company offers a full line of
services including Business Intelligence solutions, Collaboration Productivity
Solutions, and E-Business Performance Solutions to companies worldwide.
Additional information on Net Shepherd Inc. is available on the Net at
www.netshepherd.com. Net Shepherd Inc. is traded on The Alberta Stock Exchange
under the symbol WEB.
ABOUT IDEALAB!
Idealab! is an integrated incubator for starting and growing Internet
businesses. Founded in March of 1996, the company has more than 20 businesses
in various stages of development. In addition to seed capital, idealab!
provides creative capital resources to infuse startup companies with the
development strategies and financial support needed to rapidly introduce
innovative products and services. Idealab! itself currently employs just 25
people, while idealab! Companies employ more than 1000. Idealab! Is located
in historic Old Town Pasadena, California and draws many of its creative
people from Caltech, the Art Center College of Design and Hollywood. |
