Boca Research Takes Equity Ownership in Compu-DAWN
Compu-DAWN, Inc. (Nasdaq:CODI) and Boca Research, Inc.
(Nasdaq:BOCI) today announced they are entering an agreement that
provides e.TV Commerce, Inc. ("e.TV"), Compu-DAWN's wholly owned
subsidiary, with an exclusive arrangement, subject to certain
exceptions, to market Boca Research's advanced network capable TV
set-top box.
Boca has agreed not to manufacture the TV set-top box for any
other multi-level marketing company which resells local and/or long
distance telephone services or Internet access services, subject to,
among other things, minimum purchase requirements. e.TV has committed
to purchase 36,000 set-top boxes to be private labeled "e.TV
On-line(TM)" within the next 12 months. The minimum purchase
requirements increase to 80,000 units in the following 12 month
period. Additionally, Compu-DAWN and Boca Research have agreed to
jointly develop new models of e.TV On-line(TM) that will provide
various additional features and functionality with a view towards
bringing the Internet and e- commerce into the entertainment room of
the house.
The key attributes of the e.TV On-line(TM) device is that it (i)
provides consumers with complete access to the Internet through the
existing television set over a standard telephone line, conveniently
and at a fraction of the cost, (ii) allows the consumer to conduct
electronic commerce through e.TV's own shopping mall
(www.etvshop.com), and (iii) provides users with a variety of
different software applications through its network computing
capability.
Related to this agreement, Boca Research has been issued
approximately 120,000 shares of Compu-DAWN's common stock
(approximately 3% of the issued and outstanding shares).
"e.TV is strengthening its position in the Internet and
e-commerce business through sales of e.TV On-line(TM), manufactured by
Boca Research. Through our referral network marketing organization, we
expect to develop a major presence with many thousands of customers
who want to access the World Wide Web with state-of-the-art technology
from the comfort of their living rooms, hassle free and at a
reasonable cost," said Ted Turner IV, Chairman of the Board of e.TV
Commerce, Inc.
marketed by e.TV Commerce, Inc. will provide significant added
benefits to e.TV customers, including increased scalability and system
performance, increased reliability, improved ease of administration,
and increased support for new entertainment applications including
streaming video on demand. The next generation of e.TV On-line(TM) will
be Java-based, customized for e.TV clients," said Louis Libin, chief
technology officer of Compu-DAWN, Inc.
"TV set-top boxes manufactured by Boca Research provide e.TV
customers with e-commerce, entertainment, and business operational
efficiencies via the Internet. With the integration of existing and
enhanced applications, the new set-top box will be a major step
forward in extending the reach of the overall market. With
server-based thin client computing entering the mainstream, there is a
simple cost-effective way to bring the average consumer onto the
Internet. We are excited about the alliance we have formed with
Compu-DAWN, and the opportunities that await us," said Navroze Mehta,
executive vice president and general manager for Boca Research.
About e.TV Commerce Inc.
e.TV, founded in January 1999, is a wholly owned subsidiary of
Compu-DAWN, Inc. (Nasdaq:CODI). e.TV is in the business of Internet,
e-commerce, and telecommunications. Sales of its products and services
are sold primarily through a referral network marketing organization
of 18,000 representatives. Access the e.TV Commerce, Inc. and
Compu-DAWN website at compudawn.com for further
information.
About Boca Research
Founded in 1985, Boca Research (Nasdaq:BOCI), a domestic
corporation headquartered in Boca Raton, Florida, designs,
manufactures, markets and supports quality cost-effective thin
client/server devices, information appliances, data communications,
and networking products to facilitate the electronic transmission of
information. For more information, visit their website at
bocaresearch.com. |
