To: Stock Watcher who wrote (9607 ) 5/25/1999 2:48:00 PM From: VeloSpeed Read Replies (2) | Respond to of 52051
Digital Courier Technologies, Inc. Spins Off BooksNow and VideosNow Into New E-Commerce Joint Venture PR Newswire - May 25, 1999 12:43 ClickSmart.com to be Innovative Specialty Etailer on the Internet PARK CITY, Utah, May 25 /PRNewswire/ -- Digital Courier Technologies, Inc. (Nasdaq: DCTI) announced today that it has contributed the assets of its Books Now (www.booksnow.com) and Videos Now (www.videosnow.com) divisions to a newly-formed specialty etailing joint venture to be named ClickSmart.com, Inc. Digital Courier will receive an equity interest in ClickSmart.com, Inc. "The ClickSmart joint venture places our Video and Book e-commerce assets in the hands of well-connected direct response marketing professionals. Their management team has decades of targeted video and book retailing and etailing experience," stated Jim Egide, Chairman and CEO of Digital Courier. Digital Courier will process all of the credit card transactions for ClickSmart. "ClickSmart will allow us to participate in the e-commerce revenues and profits without incurring any further operational or promotional expenses. It is a win-win situation that will allow us to further our expansion efforts in the payment processing market, while ClickSmart simultaneously concentrates on the etail market," added Egide. ClickSmart.com, Inc. was formed by merging the e-commerce assets of Books Now and Videos Now with Video Direct Corporation and Total Marketing Services, based in New Jersey. VideoDirect's 10,000 plus affiliates will automatically become ClickSmart's affiliates. ClickSmart also plans on immediately expanding Books Now's successful specialty print magazine affiliate program. "The publishers I have talked to and our affiliate base are excited about adding the additional products," stated Peter Heumiller, ClickSmart.com CEO and former President of Video Direct Corporation and Total Marketing Services. "We are currently in discussions with several leading video distributors and database suppliers to form an alliance that will accelerate our growth. ClickSmart is focused on licensing, producing and marketing the world's best special interest videos, books and other information products," said Heumiller. "This is a niche market that is being overlooked by the big etailers as they offer millions of non-related products. Our strategy is to focus on how-to, instructional and informational titles. We place targeted promotions, product search utilities, and even highly targeted storefronts of Special Interest products in the Internet spaces that best align themselves to the product line," he added. Digital Courier supplies financial institutions, businesses and major web portals with sophisticated e-commerce, payment processing and content delivery software. Its netClearing division and its Access Services subsidiary offer sophisticated and secure credit card and payment processing services and technology on the Internet. This press release contains forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, which could significantly affect expected results in the future from those expressed in any such forward-looking statements made by, or on behalf of Digital Courier Technologies, Inc. Certain factors that could cause actual results to differ materially include, without limitation, risks relating to ClickSmart.com's ability to grow its user and advertiser base, ClickSmart.com's lack of operating history and the competitive environment in which the company competes. SOURCE Digital Courier Technologies, Inc. /CONTACT: Eileen Iguchi of Digital Courier Technologies, Inc., 435-655-3617, eiguchi@dcourier.com; or Peter Heumiller of ClickSmart.com, 732-728-1040, peter@totalmarketing.com/ /Web site: booksnow.com /Web site: videosnow.com /Web site: gate.dcourier.com marketwatch.newsalert.com .