S.W, Unexpected BULLISH NEWS for FRTI: Telescan Inc. and
FreeRealTime.com Announce Strategic Alliance; Under Separate Agreement, Telescan Makes $3 Million Equity Investment in FreeRealTime.com
Companies Enter Into Revenue-sharing, Content-sharing and Product Development Agreement...
IRVINE, Calif. and HOUSTON, Sept. 30 /PRNewswire/-- FreeRealTime.com.
Inc., (OTC Bulletin Board: FRTI), a leading provider of online, real-time
stock market quotes and financial services, today announced that it has
entered into a two-year strategic alliance with Houston, Texas-based Telescan
Inc., (Nasdaq: TSCN), a leader in providing Internet services to financial and
publishing companies. Under the terms of the alliance, the companies will
cross-license their web-based technologies and co-market financial content,
tools, and services. The companies will share advertising revenue and
subscription fees across a broad range of both parties' products and services.
Under a separate agreement, FreeRealTime.com announced that Telescan has made
a $3 million equity investment in the company by participating with other
investors in a private placement of FreeRealTime.com's common stock.
"The marketing, license and investment agreements provide three key
components to our continued growth," said FreeRealTime.com President and Chief
Executive Officer Brad Gunn. "Telescan provides powerful tools and content
which we will use to broaden the scope of information and analytics we provide
our FreeRealTime.com members for discovering and evaluating new investment
opportunities. In addition to expanding the breadth of our content, this
alliance will allow both companies to participate in revenue sharing programs
as we co-market and sell advertising as well as subscriptions to each other's
respective customers. Finally, given their strong industry position and
experience, Telescan's decision to not only ally with us, but also invest in
us, is a real vote of confidence in our management team and the strategies
we've developed to grow our Web sites, our brand and our company."
In making the announcement, David Brown, Telescan's Chairman and Chief
Executive Officer, said, "We are excited about offering proven streaming quote
technology from FreeRealTime.com to our customers at Wall Street City(R).
Equally exciting is the opportunity to co-market our advanced financial
products and sell advertising to FreeRealTime.com's registered list of over
700,000 members. We expect this relationship to generate millions of dollars
in revenue for Telescan over the next two years."
Under the terms of the cross-licensing and co-marketing agreement,
Telescan will provide the FreeRealTime.com Web site with co-branded content
from WallStreetCity.com, Telescan's financial investor's supersite providing
a comprehensive database along with analysis and research tools. In addition
to content from WallStreetCity.com, Telescan will provide co-branded content
from INVESTools.com, a Web site featuring digests and subscriptions to leading
Investment Newsletters, as well as licensed access to their proprietary
ProSearch(TM) technology, a powerful securities search program providing
investors the ability to screen based on technical and fundamental parameters.
FreeRealTime.com will develop co-branded pages around Telescan's content
and market subscriptions for INVESTools and ProSearch premium services in
addition to licensing its Bullsession.com streaming quote and portfolio
management technology to Telescan. The companies will share revenues related
to these alliance activities, including certain advertising sales generated by
both companies, as well as subscription fees from the BullSession license and
from joint promotion of Telescan's subscription services on the
FreeRealTime.com Web site.
About Telescan, Inc.
Telescan, telescan.com, is an industry leader in developing and
operating Internet sites and major online networks for financial and
publishing companies, as well as proprietary analytics and content to
individual investors. Telescan's Wall Street City supersite,
wallstreetcity.com , provides the most comprehensive suite of
search tools, technical analysis and financial data on the Internet.
Telescan provides private-label versions of its proprietary Internet
technology to many of the nation's leading financial services and media
companies including American Express, Citibank, BPI Communications, Fidelity
Investments, GlobalNet Financial, NBC, Standard & Poor's, Time Inc. New Media,
and Playboy Enterprises.
About FreeRealTime.com
FreeRealTime.com, Inc. is a digital financial media company providing an
array of stock market data, business information, and sophisticated research,
analysis, and management tools for institutional investors, brokers,
independent investors and respected resellers. CNBC's Power Lunch selected
FreeRealTime.com as its 'Cool Web Site of the Day' on April 27, 1999.
FreeRealTime.com was also featured in Online Investor's May/June 1999 issue,
as a "Blue Chip Pick" for market data. Visit our FreeRealTime.com web site at
freerealtime.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act
of 1995: Certain matters discussed in this news release relating to the
pending co-branding, revenue-sharing and co-development agreement between the
FreeRealTime.com and Telescan Inc., are forward-looking statements involving
certain risks and uncertainties including, without limitation, the ability to
meet development schedules, changes in product demand, changes in competition
and other economic conditions. FreeRealTime.com does not undertake any
obligation to release publicly the result of any revisions to these
forward-looking statements that may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Telescan, Inc. and FreeRealTime.com, Inc.
-0- 09/30/1999
/CONTACT: Marty Tullio, Investor Relation Resources of FreeRealTime.com,
Inc., 949-376-4458, marty@investorRR.com; David Brown, Chairman & CEO of
Telescan, Inc., 281-588-9700, investor.relations@telescan.com; or Keith
Lanigan , Klanigan@sternco.com (Media), or Jeffrey Goldberger (IR), both of
Stern & Co., 212-888-0044, for Telescan, Inc./
/Web site: telescan.com
(TSCN FRTI) |
