Good news...hopefully investors will agree, and we will see news reflected in price/volume today...
Telescan to License Technology and Content to MicroCap Financial Services Alliance to bring Telescan's Technology to Europe
PR Newswire - March 26, 1999 07:15
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HOUSTON and SANTA MONICA, Calif., March 26 /PRNewswire/ -- Telescan, Inc. (Nasdaq: TSCN) said today it has reached an agreement with MicroCap Financial Services, Inc. (OTC Bulletin Board: MFSI) to license certain of its technology and content for MFSI's U.S. and European websites. This technology will include the innovative stock trading software that could revolutionize how investors trade on-line which is being developed for Telescan by Trading Technologies Corporation. Telescan recently announced a minority investment in Trading Technologies.
Terms of the agreement include the issuance of 2.5 million shares of MFSI's common stock to Telescan, currently valued at $4.2 million and other cash consideration.
MFSI fully launched its U.S. website microcap1000.com in October 1998 and plans to launch its first international site ukinvest.com next month as the exclusive provider of investor information and services within the financial channel of Freeserve, the United Kingdom's largest and fastest-growing Internet Service Provider, with more than 1.4 million subscribers.
David Brown, Telescan Chairman and Chief Executive officer, said, "Through MFSI's European operations, Telescan has the opportunity to leverage its position as one of the top financial sites in the U.S. into a truly global market analysis site." Brown added, "Individual investors in the European securities markets are quickly mimicking their U.S. counterparts in taking advantage of sophisticated market tools, and we are reinforcing our global offerings at a time when investors are in need of the type of analysis our technology can provide."
Stanley Hollander, MFSI's President and Co-CEO said, "We are quite pleased to have the first component in our quest to provide on-line trading both in the U.S. and Europe and to expand our relationship with Telescan." Hollander added, "Telescan's technology will also bring us closer to our goal of being a world-wide leader in disseminating top tier research content to individual investors which our U.S. and European viewers can use to strengthen their investment decisions."
Marc Danby, General Manager of Freeserve added, "We are extremely pleased with the progress MFSI has made towards its launch of UK-invest.com and the high quality tools and content that it has amalgamated for the site." Danby added, "We look forward to having Telescan's top tier technology, tools and content on our site."
Based in Houston, Texas, Telescan, Inc. (http://www.telescan.com) is an industry leader in providing Internet services, innovative solutions for online technology and data retrieval tools. The company develops and operates Internet sites and major online networks serving the financial, publishing, entertainment and technology-transfer industries. Telescan's Wall Street City supersite (http://www.wallstreetcity.com) provides the most comprehensive suite of search tools, technical analysis and financial data on the Internet.
Telescan provides private-label versions of it's proprietary Internet technology to many leading financial institutions including Fortune Investor, PointCast, Playboy, American Express, Fidelity Investments and Standard & Poors.
MicroCap Financial Services, Inc. is an international multimedia provider of online financial news and information services to the investment community. The Company's first international site, UK-iNvest.com, provides exclusive investor information and services to Freeserve, the largest Internet Service Provider in the U.K. with 1.4 million subscribers. The site will be launched in April 1999. The Company's U.S. based website, microcap1000.com, was launched in October 1998 and is designed to be the premier source of information on the MicroCap Sector, companies with market capitalizations of under $500 million. The site provides comprehensive Internet-based electronic publishing of unique content including news, analysis and investment ideas.
Freeserve is a subsidiary of the Dixons Group plc and was launched on 22nd September 1998. It was the first company to offer a fully featured free internet service UK wide and is the UK's fastest growing internet service provider. Freeserve is available on a free CD in all Dixons, Currys, PC World, The Link and @jakata stores in the UK and is primarily intended for home users and small office/home office business users.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements could be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. These include uncertainties in the market, competition, legal, success of marketing efforts and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release.
For additional information regarding MicroCap Financial Services.com, Inc. and UK-iNvest.com, please contact Michael Jacobs at the Boca Raton, Florida office:
7280 W. Palmetto Park Road
Suite 202
Boca Raton, FL 33433
561-417-8053 (tel)
561-417-8054 (fax)
Email: mjacobs@microcap1000.com
For additional information regarding MicroCap1000.com, please contact Lisa Taylor at the Los Angeles, California office:
2425 Olympic Boulevard
Suite 660E
Santa Monica, CA 90404
310-828-8838 (tel)
310-828-7218 (fax)
Email: ltaylor@microcap1000.com
For additional information regarding MicroCap1000.com in the financial community, please contact:
Richard Carpenter or Jeff Lamberson
At American Financial Communications
2420 "K" Street, Suite 220
Sacramento, CA 95816
916-552-6532 (tel)
916-552-6537 (fax)
For information regarding Telescan Inc., please contact:
David Brown at Telescan -- 281-588-9700 or
Keith Lanigan at Stern & Co. -- 212-888-0044
SOURCE Telescan, Inc.
/CONTACT: MicroCap Financial Services.com, Inc. or UK-iNvest.com -
Florida - Michael Jacobs, 561-417-8053, or fax, 561-417-8054, or
mjacobs@microcap1000.com; MicroCap1000.com - California - Lisa Taylor,
310-828-8838, fax, 310-828-7218, or ltaylor@microcap1000.com; or
MicroCap1000.com financial community, - Richard Carpenter, or Jeff Lamberson,
both of American Financial Communications, 916-552-6532, or fax, 916-552-6537;
David Brown of Telescan, Inc., 281-588-9700; or Keith Lanigan of Stern & Co.,
212-888-0044, for Telescan/
/Web site: telescan.com
(TSCN MFSI)
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