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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: Nanchate who wrote (1124)	5/20/1999 11:03:00 AM
From: TENNET	Respond to of 4443

Posted by Crazyotto on Yahoo thread: By: Commander_Data Reply To: None Wednesday, 19 May 1999 at 11:27 PM EDT Post # of 789 Here's a take on the current market for a well respected internet consultancy like gomez.com if Ashton were to spin it off. Make it so, Fred _______________________________________________ U.S. Interactive, Internet Consulting Firm, Files for IPO Bloomberg News May 19 1999 5:44PM ET U.S. Interactive, Internet Consulting Firm, Files for IPO Washington, May 19 (Bloomberg) -- U.S. Interactive Inc., a consulting firm whose 32-year-old chairman Eric Pulier serves as technology advisor to Vice President Al Gore, and some shareholders filed to raise as much as $65 million through an initial stock sale. Based near Philadelphia in King of Prussia, Pennsylvania, the company said it has helped more than 400 companies, including the Walt Disney Co., take advantage of the Internet. U.S. Interactive advises clients on everything from electronic commerce to digital marketing strategies to the installation and use of technology. ''It is in a hot area (because of) the need for these type of services,'' said David Menlow, president of the IPO Financial Network. Safeguard Scientifics Inc., the Wayne, Pennsylvania-based incubator of Internet-related companies, holds a 16.3 percent U.S. Interactive stake before the IPO. An unspecified portion of the U.S. Interactive shares will be offered to Safeguard Scientific shareholders. Pulier, U.S Interactive co-founder, holds a 25.5 percent company stake before the IPO. Professional services firms specializing in the Internet constitute a growing market. The industry is expected to bring in annual revenue of as much as $43.7 billion in 2002, up from $7.4 billion generated in 1998, according to International Data Corp. estimates cited in the filing. The stock sale will provide U.S. Interactive with money for capital investment activities and to repay the outstanding balance under its revolving credit agreement, among other general corporate purposes. U.S. Interactive said it also may use some proceeds for acquisitions. Other IPOs With today's filing, U.S. Interactive joins competitors such as Scient Corp. and Viant Corp. that have sought to benefit from access to public financing. Scient, a rival consulting firm that lost $11.7 million in the year ending March 31 on revenue of $20.7 million, went public last week by selling 3 million shares for $20 apiece. Scient shares today rose 5/8 to 37 1/2. Viant in April registered with the SEC its plans to go public. ''The quantity of registrations that are hitting the marketplace are sending out a signal that this is a very necessary component to the Internet landscape,'' said Menlow. U.S. Interactive posted a net loss of $2.9 million on revenue of $6.1 million in the first three months of 1999, compared with a net loss of $20,000 on revenue of $2.4 million in the first three months of 1998. Former U.S. Interactive Chief Executive Larry Smith and co- founder Richard Masterson will offer an undisclosed number of shares through the stock sale. The company said it will not receive proceeds from the sale of shares by existing shareholders. Underwriters for the stock sale will include BT Alex Brown, Lehman Brothers, and Adams Harkness & Hill Inc. U.S. Interactive said it intends to apply to trade on the Nasdaq Stock Market under the symbol ''USIT.''