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Technology Stocks : IMON - Quoted from Barron's Corporate Reports -- Ignore unavailable to you. Want to Upgrade?

To: BuddyW who wrote (2071)	3/12/1999 9:22:00 AM
From: lindalib	Read Replies (2) \| Respond to of 2220

News: SAN CARLOS, Calif.--(BUSINESS WIRE)--March 12, 1999-- When completed, second acquisition by leading Internet software developer will expand ImaginOn's WorldCities 2000 Series into destination resorts; Acquisition is contemplated as a merger between ImaginOn's operating unit, ImaginOn.com, and Imagine Digital Productions. ImaginOn, Inc. (NASDAQ:IMON) today announced that it has signed a non-binding Letter of Intent to acquire Aspen, Colorado based Imagine Digital Productions, LLC, a privately held designer, producer and publisher of interactive CD-ROMs and Internet Web sites. The Company anticipates completion of a definitive agreement detailing the terms of the proposed acquisition before April 30, 1999. According to ImaginOn President & Chief Executive Officer David Schwartz, the acquisition is being contemplated as a merger between ImaginOn's operating unit, ImaginOn.com, and Imagine Digital Productions. "While only two years old, Imagine Digital Productions has earned a reputation for itself as being one of the leading designers, producers and publishers of interactive CD-ROMs and Web sites," Schwartz said today. "Their software complements our patent-pending Transformational Database Processing & Playback technology, extending our business into advertiser-supported destination resort guides, and enhancing our WorldCities 2000 Series of real-time interactive travel planners." Imagine Digital Productions' "Destination Aspen CD-ROM" and its www.destinationaspen.com Internet Portal Web site, include hundreds of multimedia websites for Aspen area businesses. Steven Chanin, CEO of Imagine Digital Productions commented, "I believe this proposed merger of our advertiser supported business model and ImaginOn's proprietary technology will make e-commerce more effective for the advertisers, and more fun and entertaining for the traveling consumer." Founded in 1997, Imagine Digital Productions, LLC is based in Aspen, Colorado and is a leading multimedia production studio and publishing company. The Company's primary business is the development of proprietary CD-ROM products and Internet multimedia Web sites on a contract basis for resort area advertisers. Imagine Digital Productions distinguishes itself from competitors in the field by focusing on high quality user interface design. This includes the use of the latest Internet technologies, including virtual panoramas, streaming multimedia and real-time databases. The Company's principals are Steven Chanin, William Carr and Sheryl Carr, all of whom will become employees of ImaginOn upon completion of the anticipated merger. ImaginOn, Inc., operating through its wholly-owned subsidiary, ImaginOn.com (www.imaginon.com), is a development stage company which engineers, produces and sells business and consumer software for CD-ROM and network users, including: WebZinger, its product line of Web research assistants; sellONstream, its e-commerce software solution; and WorldCities 2000, ImaginOn.com's interactive CD travel planners. WorldCities 2000, sellONstream, and WebZinger are trademarks of ImaginOn.com and are also protected under a U.S. Patent and a U.S. Patent Pending. Destination Aspen and all of its advertiser websites are copyrighted by Imagine Digital Productions. Except for the historical information presented herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe-harbor" provision of the Private Securities Litigation Act of 1995. These forward-looking risks are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed in the Company's periodic reports and in its Form S-3 registration statement filed on February 8, 1999 with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.