To: Jim Bishop who wrote (47195 ) 5/17/2000 10:22:00 AM From: StocksDATsoar Respond to of 150070
WOW....CHECK THE NR OUT...UNREAL! QSound Labs Inc - QSound subsidiary acquires Choicemall.com QSound Labs Inc QSND Shares issued 24,200,686 1899-12-30 close $0 Wednesday May 17 2000 Ms. Paula Murray reports QSound Labs' e-commerce subsidiary, QCommerce, Inc., has acquired Choicemall.com from LookSmart Ltd., (Nasdaq: LOOK) the global leader in Internet search infrastructure, for one million common shares of QSound Labs. Choicemall.com is an e-commerce portal dedicated to helping small businesses sell products on-line and currently has a community of over 1,000 merchants. The agreement includes having LookSmart distribute QSound content and properties throughout LookSmart's network of partner sites. LookSmart's distribution network reaches more than 52 million people each month, 74 per cent of all Internet users in the United States. LookSmart will also provide QSound sites with search services and other related content. "This acquisition provides QCommerce with the perfect venue for showcasing its e-commerce tools," says David Gallagher. "In addition to a premier e-commerce site that is indexed and syndicated among top Web portals and hundreds of Internet service providers, we are gaining a pool of over 10,000 merchants eager to promote and sell their products on-line. The combination of Choicemall's reach and large existing customer base with the full suite of QCommerce e-solutions will give us a significant advantage in the marketplace. With this synergy, we are gaining more than a full measure of value from this acquisition." "This deal allows each party to focus on what they do best," said Scott Stanford, vice-president of e-commerce distribution at LookSmart. "LookSmart will expand QSound's reach and traffic through LookSmart's directory listings business and through traditional on-line advertising. QCommerce can leverage its technology and processes to quickly and cost-effectively help small businesses establish best-in-breed on-line stores. Most importantly, the individual merchants will have both the tools and traffic they need to run successful Web businesses." The purchase expands QCommerce's presence in the e-commerce space and lays the foundation for a total business solution that incorporates its proven e-business solutions into a high-traffic shopping destination. In December, 1999, QSound launched QCommerce, an e-business services company dedicated to enabling small businesses to succeed by providing easy to use, secure and affordable e-commerce solutions to display and sell goods and services on-line. Now, with Choicemall and a large distribution deal with LookSmart, QSound also has a means of driving traffic to those companies. About LookSmart LookSmart is the global leader in Internet search infrastructure, dedicated to helping the world find useful information quickly. LookSmart's search service reaches over 52 million people a month -- 74 per cent of all Internet users in the U.S. -- through LookSmart's Web properties and partner sites. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com