Rare Medium Group Inc. Completes Acquisition of Hype! Inc.
NEW YORK, March 11 /PRNewswire/ -- RARE MEDIUM GROUP INC. (Nasdaq: RRRR - news), raremedium.com, a leading provider of Internet and E-commerce business solutions, has completed the previously reported strategic acquisition of Hype! Inc., hype.com, it was announced today by Glenn S. Meyers, Chairman, President, and Chief Executive Officer of Rare Medium. Terms were not disclosed.
Commenting on the completion of these latest acquisitions, Mr. Meyers said, ''The addition of this leading Internet business solutions company greatly increases Rare Medium's geographic reach in Canada., expands upon our talent pool, and brings to Rare Medium big brand name E-commerce clients in entertainment, retail, and consumer products.
Hype! Inc., established in 1994 and headquartered in Toronto, is one of Canada's leading Internet marketing and communications firms. It has received Best of the Best awards from Microsoft and Internet Life. It has created Web sites or Intranets for Players Racing Team, Dun & Bradstreet Canada, William M. Mercer Ltd., the global consulting firm, Motorola Information Systems Group (Canada), and Johnson & Johnson Medical Products.
''Hype! gives Rare Medium an immediate and valuable leadership position in the Canadian market and adds to our overall strengths as an enabler of direct market interaction,'' said Mr. Meyers.
''We met with a number of firms, and we felt Rare Medium was the most focused in their vision and the role that we would play within that vision. The move allows us to tap into a larger pool of resources that will assist us in our goal of helping grow our clients' business and improving their business processes through the creative application of Internet technology,'' said Greg Rubidge, President and Managing Director of Hype! Inc.
The addition of Hype! Inc. broadens Rare Medium to a base with offices in New York, Los Angeles, Phoenix, Atlanta, Dallas, San Francisco, and Toronto, Canada.
Rare Medium Group Inc. (Nasdaq: RRRR - news) is an Internet professional services firm, helping clients develop E-Commerce Internet strategies, improve business processes, and develop marketing, communications, branding, strategies, and interactive content using Internet-based technologies and solutions. Rare Medium develops Internet and Web-based solutions primarily for Fortune 500 Corporations including: Microsoft, The New York Times, Epson, General Mills, CS First Boston, Pfizer, Hotel Reservation Network, and The Federal Reserve Bank. The Company is headquartered in New York City and has offices throughout the United States.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect ICC Technologies, Inc. d/b/a Rare Medium Corp. (Nasdaq: RRRR - news), and its subsidiaries' business and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Rare Medium's limited operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms and those risks discussed in the Company's filings with the SEC.
SOURCE: Rare Medium Group Inc.
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