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Technology Stocks : NTN Communications, worth 185 million? -- Ignore unavailable to you. Want to Upgrade?

To: dwight vickers who wrote (2847)	5/6/1999 2:38:00 PM
From: Jon K.	Respond to of 2985

I guess NTN still has some greenbacks left to buy more goodies. ********************** Company Press Release NTN Acquires Assets of Internet Station Developer Acquisition to Connect NTN Directly to Player Revenue CARLSBAD, Calif.--(BUSINESS WIRE)--May 6, 1999--NTN Communications Inc. (AMEX:NTN - news), a provider of Internet content and an interactive television network, today announced that it has acquired the assets and rights to certain technology, hardware and video games of Sikander Inc. The acquisition enables NTN to link its audited 17.7 million monthly viewer/participants on its existing network to coin-operated Internet stations, thus providing out-of-home access to the Web and video games for patrons in restaurants, hotels and other public venues. ''NTN will combine, for the first time, our proven out-of-home entertainment network with the power and promise of the Internet,'' said Stanley B. Kinsey, NTN chairman and chief executive officer. ''This acquisition, together with our national sales, service and marketing infrastructure, allows us to provide a pay-based product to the patrons of our hospitality network of nearly 3,000 sports bars and restaurants.'' As part of the acquisition, NTN has added Sikander Inc. CEO, Edward Bevilacqua II, to its management team. Bevilacqua developed with Siemens, IBM (NYSE:IBM - news), Frogdesign and other key firms a public access e-commerce platform utilizing games, a digital jukebox and other features as magnet applications. His previous management positions have been with PlayNet Technologies and Sport Active Television, both interactive entertainment delivery platforms designed specifically for the hospitality industry. ''Combining the hospitality industry knowledge of NTN and Sikander will enable us to pursue strategies to develop new revenue streams and enhance the relationship with NTN players,'' Bevilaqua said. ''The biggest winners in this acquisition are NTN customers and people who visit their establishments looking for innovative forms of entertainment.'' The transaction was completed with a combination of cash, debt and performance-based stock options. The assets acquired will enable NTN to expand its field-testing and further develop its Internet station strategy. NTN Communications Inc. (AMEX:NTN - news) is a provider of Internet content and an interactive television network operator. Based in Carlsbad, Calif., the company provides multi-player content to a variety of delivery platforms 24 hours a day. The NTN Network and NTN Digital Interactive TV network distribute interactive sports and trivia games to millions of consumers per month at hospitality locations such as restaurants, hotels and bars. Additional users are exposed to NTN via America Online; GTE mainStreet interactive cable service; ChoiceSeat, the supplier of ''smart seat'' technology; and the Internet. The company's website is located at ntn.com. biz.yahoo.com