Astounding Dotcom Growth Spells Hiring Frenzy: Astound To Hold Open House and Job Fair.

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Business Editors/High-Tech Writers

TORONTO--(BUSINESS WIRE)--Jan. 16, 2001

It is no secret that something is amiss in the world of the new economy. "Restructuring" seemingly has become the swan song of companies once the darlings of dotcom. It is evident from the layoffs and the reformation of business models that the ASP industry is coming to a crucial moment of definition: who is going to sink and who is going to swim?

But amidst the chaos, one Toronto-based company is bucking that trend. Astound Incorporated, a leading provider of web conferencing solutions, recently announced its agreement to be acquired by the world's largest independent teleconferencing company, Genesys Conferencing. Hailed by analysts as a smart, strategic move for both sides, the acquisition will strengthen Astound's financial position while giving it access to Genesys's worldwide customer base of over 16,000 customers. The deal will also strengthen Genesys Conferencing's technological market position by giving it an advantage in providing next generation teleconferencing services. Astound is well known as the leading provider of web conferencing and collaboration solutions including synchronized streaming of audio and video as well as robust multimedia tools for an enhanced presentation.

While other companies are announcing layoffs, Astound is aggressively hiring to ramp up in support of the explosive growth it has experienced over the past three fiscal quarters. Astound prides itself on having a sound and cohesive team of dedicated professionals and a work environment that promotes flexibility, development and opportunity. As CEO Kailash Ambwani says, "It really says something about a company that is growing in size when its major competitors are shrinking."

Astound is holding a job fair and open house on Thursday, January 18, 2001 from 2:00pm till 8:00pm at its Toronto Head offices, 304 The East Mall, Toronto, ON. Professionals in the fields of Sales, Product Management, Software Development, Technical Support, Quality Assurance, and Network Operations are invited to come and meet the Astound team to discuss the exciting opportunities. For full details regarding the job fair, please visit www.astound.com

About Astound

Founded in 1996 and based in Toronto, Astound is a leading provider of web conferencing and collaboration services, enabling companies to communicate in real-time with customers, employees and partners. The Astound Conference Center is a complete, integrated platform for one-to-one and small group collaboration as well as large scale Web events. Astound has 82 employees and its services are distributed via a direct sales force to customers such as Hewlett Packard, 3COM, Minolta, Lexmark, DLJ Direct, NCR and Teklogix.