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FSVP trades Nasdaq around 2 11/16...this collaboration announced on 1/6/2000 w/idealab! is very interesting. For those of you who wish to research take a look at idealab!. FIND/SVP Signs Collaboration Agreement With Idealab! to Develop Find.com Portal Site NEW YORK--(BUSINESS WIRE)--Jan. 6, 2000--FIND/SVP, Inc. (NASDAQ: FSVP - news) the business advisory and research service, today announced that it has signed a collaboration agreement to develop find.com, a new Internet site that will contain search engine technology, content and features. As part of the collaboration agreement, FIND/SVP is also assigning the domain name find.com and licensing the use of certain rights to the trademark ``FIND' to a new company, Find.com, Inc., a wholly-owned subsidiary of idealab!. A leading creator and operator of Internet businesses, idealab! will develop the find.com site. The front page of the find.com site will have a link to findsvp.com, which will continue to offer business advisory and research services provided by FIND/SVP consultants. The agreement also anticipates that the parties will work together to identify and jointly pursue other mutually beneficial Internet ventures in the future and identify ways for idealab! or its affiliates to invest in FIND/SVP. Under the terms of the arrangement, FIND/SVP is receiving consideration in the form of cash, stock and royalties. As an initial result of the transaction, FIND/SVP expects to record pretax income of approximately $1.2 million in the fourth quarter of 1999. Further details of the agreement were not disclosed. ``We are extremely pleased that the extraordinary resources and talents of idealab! will be used to make find.com a major consumer portal,' said Andrew P. Garvin, president of FIND/SVP. ``idealab!'s track record of success was a key factor in concluding this agreement.' Mr. Garvin said FIND/SVP will continue its focus on developing the business-to-business advisory services provided by its own professional staff and the 1,000 consultants in the worldwide SVP group. Findsvp.com provides access to the other countries in the group through links to svp.com. Commenting on the deal, Brigitte de Gastines, chairman of FIND/SVP and president of SVP International, said, ``Since the main mission of the SVP group is to provide telephone and internet access to human experts to help executives address their business issues through personalized consultations, we felt it was appropriate to collaborate with a company like idealab! to develop the potential of the find.com name.' About FIND/SVP FIND/SVP is a worldwide business advisory, research and consulting service with more than 2,000 retainer client organizations in the U.S. The Company has been helping executives make more informed decisions since 1969 by providing access to knowledgeable professionals who deliver cost-effective answers, solutions and guidance backed by solid research. It is the second largest member of the global SVP Group. Worldwide, the SVP Group serves more than 75,000 executives in 10,000 companies. FIND/SVP is located at 625 Avenue of the Americas, New York, NY 10011. More information is available by calling 212-645-4500 or visiting FIND/SVP's Web site at findsvp.com, or the SVP Group's site at svp.com Certain statements and information included in this release constitute ``forward-looking statements' within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, the ability to develop a leading consumer internet portal, possible future internet ventures, and possible future investments in FIND/SVP. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements expressed or implied in such forward-looking statements to be different. Contact: FIND/SVP, Inc., New York Andrew Garvin, President & CEO 212/463-6200 or Investor Access Corp., New York Robert Frost, 212/679-0652 | ||||||||||||||
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