TSIG.com to Acquire GeneralSearch.Com
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--April 25, 2000-- TeleServices Internet Group Inc. (OTCBB:TSIG - news), known as TSIG.com, today announced that it has entered into a letter of intent to acquire GeneralSearch.Com, an Internet portal and search engine, in an all-stock transaction valued at above the current market price of TSIG.com common stock. TSIG.com has engaged the investment banking firm of Ladenburg Thalmann to act as its financial advisor and provide a fairness opinion. Other terms were not disclosed.
GeneralSearch.Com is an Internet portal designed to enhance the individual's online experience and contains one of the most powerful and accurate search engines on the Internet, with access to a database of more than 100 million links. The search engine continues to improve and create filters that will eliminate virtually all adult-oriented content, while still providing the most accurate search results available on the Internet. GeneralSearch currently has more than 800 Internet-based affiliates, including Amazon.com, Land's End, Compaq and Travelocity. GeneralSearch offers free Internet access for life, free e-mail, fax, integrated messaging and other services.
``This is a truly historic day for TSIG.com. We are thrilled to announce the acquisition of GeneralSearch.Com,'' commented Robert Gordon, chairman of TSIG.com. ``We will now be able to leverage our agreements with companies such as Coca-Cola and non-profits such as UCP to drive traffic to an Internet portal and search engine that we will own. This acquisition completes our transition to becoming a fully integrated Internet company.''
About GeneralSearch.Com., Inc.
General Search.Com, Inc., is a private company that was formed in 1998 to enhance the individual's Internet experience. GeneralSearch.Com is an Internet portal with one of the most powerful and accurate search engines on the Internet, with access to a database of more than 100 million links. The search engine is family-oriented, with filters that eliminate virtually all adult-oriented content, while still providing the most accurate search results available on the Internet. GeneralSearch also has more than 800 Internet-based affiliates, including Office Max, Stamps.com and other popular sites. GeneralSearch offers free Internet access for life, free e-mail, fax, integrated messaging and other services. GeneralSearch.Com is located in West Chicago, IL. The company can be reached by e-mail at info@generalsearch.com. The company's website is at www.generalsearch.com
About Ladenburg Thalmann & Co., Inc.
Founded in 1876, Ladenburg Thalmann & Co., Inc. is a full service investment banking and brokerage firm based in New York. Since 1991, Ladenburg has completed more than $6.5 billion in public and private financings, and approximately $11.0 billion in total corporate finance transactions. The firm offers a complete range of corporate finance services, including public underwritings, merger and acquisition services, financial advisory services, restructurings and workouts, valuations, recapitalizations and private placements. Ladenburg Thalmann provides quality research, as well as access to the institutional and retail distribution networks necessary to finance the growth of emerging companies, especially those involved in e-commerce, Internet technology and telecommunications. As one of Wall Street's leading research firms for emerging growth companies, Ladenburg's recommended list for 1999 resulted in a better than 60% return, which ranked among the best of the
nation's top 15 brokerage firms.
About TSIG.com
Headquartered in St. Petersburg, Florida, TeleServices Internet Group Inc., known as TSIG.com, has created its myCard programs to benefit both the corporate and non-profit communities, as well as consumers. TSIG.com forms myCard partnership agreements with national corporations and non-profit organizations, and then works with those partners to design revenue-generating programs that attract consumers to their Web sites. The first myCard program was myMusicCard, which enables consumers to purchase CDs and cassettes at the lowest available prices. Similarly TSIG.com's myPhotoCard programs provide low-cost film processing and Kodak Film, and the myPhoneCard programs provide low-cost prepaid long-distance calling card services. For all new myCard users, TSIG.com has recently arranged through General Search.Com to provide free Internet access for life, free e-mail, fax, integrated messaging and other features.
These customized marketing programs provide recurring revenues to TSIG.com and its partners, and help develop strong brand loyalty and awareness within target communities. TSIG.com further enhances its myCard programs by providing customer service and support with its Web-based call center and related services. With non-profits, TSIG.com is engaged in ``cause-related marketing'' and has a ``volunteer sales force'' of millions generating sales and driving traffic to Internet sites for the lowest customer acquisition cost in the business. TSIG.com is the national marketing partner of UCP, the nation's largest non-profit health care organization and leader in the disability field, serving over 1 million people with disabilities a year in the United States. TSIG.com's corporate web site is at www.tsig.com and the myMusicCard web site is at www.mymusiccard.com
This press release contains ``forward-looking statements'' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) the availability of financing at favorable terms, and (4) other factors detailed in the company's public filings with the SEC.
Contact:
Paul Henry
phenry@tsig.com
OR
Richard Wheeler
dwheeler@tsig.com
TSIG.com
727/897-4000 |
