INTQ....This is the second PR on this company in a week. Seems like each one is outdoing the other!
HOT OFF THE PRESS NEWS!!!!!
Wednesday July 7, 9:02 am Eastern Time
Company Press Release
Intelliquis Acquires Multimedia
Developer, Direct Media
Acquisition Positions Intelliquis in the Multimedia Technology Marketplace
SALT LAKE CITY--(BUSINESS WIRE)--July 7, 1999--Intelliquis International Inc. (OTC BB:
INTQ - news), a premier provider of personal computer and Internet software, today announced it
has entered into an agreement to acquire the assets of Direct Media Communications Inc., a San
Jose, Calif.-based developer of multimedia and Internet technology.
According to Bernard Yaw, Intelliquis' president and CEO, the acquisition of Direct Media allows
Intelliquis to enter the multimedia and Internet technology marketplace.
''The acquisition of Direct Media strengthens Intelliquis' position in the technology industry, and
gives the company a presence in Silicon Valley,'' Yaw said. ''Direct Media's multimedia and Internet
technology provide the perfect opportunity to build upon Intelliquis' growth through the sale of
additional products, while giving the company an entry into the multimedia technology and delivery
arena.
''With the acquisition of Direct Media, Intelliquis plans to leverage its global customer network and
enter into new strategic alliances to bring Direct Media's technology to market,'' Yaw said.
Direct Media is the developer of a technology code-named global communication module (GCM).
GCM is a high-performance network technology developed around the global communications
concept. The GCM is designed to allow an unlimited number of users to interact over networks
using a variety of data types, including audio, live and recorded video, text and html, among others,
and combines these various data types into one data stream.
Intelliquis plans to develop and sell products using the GMC through a new wholly owned subsidiary
under the name DirectMedia Communications (DMC).
According to John Wei, president of Direct Media, the acquisition also provides DMC the resources
to market and sell the GCM product. Under terms of the acquisition, Wei will become the president
of DMC.
''Intelliquis International provides much needed resources to build new markets and sales
opportunities for the GCM product,'' Wei said. ''I'm particularly excited about the relationship
because the GCM technology can benefit both corporate and education markets. DMC and
Intelliquis can work together to create a whole new market for the technology, which will allow a
mass audience to share information.''
The GCM product is designed to improve upon current conferencing and distribution technology by
giving instant interactivity to multiple participants in an audio and video interactive ''net'' conference.
In its final form, the product will allow each participant in the ''net'' conference to instantly interact
with and access every other participant, as well as interact with and access the data provider. With
the GCM product in place, the host of the ''net'' conference will have the ability to send specific
content to select participants. The host will also be able to distribute different content to each
participant or allow all participants in the ''net'' conference to share and interact with all content,
allowing for a real global interactive broadcast.
According to Yaw, the GCM technology is perfectly suited for a number of different applications
and vertical markets. ''In addition to 'net' conferencing, the GCM and its technology can be adapted
to fill a variety of roles, such as telemedicine, training, corporate communications, e-commerce and
distance learning,'' Yaw said. ''The GCM is especially suited to the virtual-classroom environment
because of its higher degree of interactivity and multiple pathways of communication, which break
down the distance and communication barriers between teacher and student.''
Yaw said the GCM technology could also be used for other applications, including use in online
auction sites, online infomercials and online news broadcasts, providing them with real-time
interaction with and among their users.
DMC's new GCM technology is currently in use in a university setting in Malaysia. DMC plans to
build upon its installed Asian base by expanding into other major international markets, with sales
planned to start in late third quarter, 1999.
Intelliquis will acquire the Direct Media assets for 1.5 million shares of Intelliquis common stock and
the payment of $1 million to DMC for working capital within 90 days. The company will issue up to
an additional 12 million shares to Direct Media if DMC meets certain sales performance targets.
DMC will continue operating out of its Silicon Valley offices in San Jose, Calif. About Intelliquis
Based in Draper, Utah, Intelliquis International Inc. (OTC BB: INTQ - news) is a premier provider
of software titles for the personal computer market. Intelliquis' Internet, communications, and utility
software enable computer users to save time and money while achieving greater productivity in their
business and personal computing activities. Intelliquis' software products are available worldwide
through retail, VAR, distributor, Internet, direct and OEM sales channels. More information can be
accessed from the Intelliquis Web site at www.intelliquis.com.
Except for historical information, all of the statements, expectations and assumptions contained in the
foregoing are forward-looking statements. The realization of any or all of these expectations is
subject to a number of risks and uncertainties and it is possible that the assumptions made by
management may not materialize. In that regard, there are no guarantees the acquisition of Direct
Media Communications will be consummated.
Contact:
Intelliquis International Inc., Draper
Ken Jenson, 801/990-2600
kjenson@intellquis.com
or
Direct Media Communications
Pat Lucci, 510/851-8837
alucci@hotcoco.infi.net |
