Avaterra.com Completes Acquisition of Virtual Communities From Fujitsu.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--June 28, 1999-- Acquisition of Longest Running Virtual World Communities Formalizes Business Operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , Name/Symbol Change Avaterra.com, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AVAR), a provider of virtual world technologies and services for Internet communities, announced that it has concluded the acquisition of WorldsAway, a division of Fujitsu's Products and Services Group. Fujitsu Systems Business of America will retain a 10% stake in Avaterra.com, and hold a position on the board. Avaterra.com recently changed its name and symbol from inworlds.com (OTC BB:IWLD) to more closely reflect its core business of developing avatar- (graphical characters) based user interfaces and visual chat communities on the Internet. The acquisition of core technologies and trademarks from Fujitsu grants Avaterra.com exclusive rights for broad commercial deployment of WorldsAway virtual Internet communities. Under the terms of the agreement, Avaterra.com secured all of WorldsAway's businesses, including three revenue-generating communities: Dreamscape dream·scape n. A dreamlike scene or picture having surreal qualities. [dream + (land)scape.] , Club Connect, and New Radio World -- in addition to established contracts and relationships with high brand-recognition partners and advertising clients. Fujitsu, operating through its WorldsAway division, has invested over $25 million over the past four years in core technologies that are the foundation of Avaterra.com's virtual Internet zones ("V-Zones"). Avaterra.com purchased WorldsAway in May 1999 to develop its V-Zone business model. Fujitsu's WorldsAway division had revenue exceeding US$1 million in 1998. The commercial sponsors and partner relationships that will transfer to Avaterra.com include Xoom.com, Virtual Vineyards, Delphi Forums (Delphi Forums, Littleton, MA, www.delphiforums.com) A consumer-oriented Web site that offers self-managed forums on any subject. Similar to UseNet in that messages are posted for subsequent reading at any time, Delphi Forums require all forums to be moderated by the person who originated , Compuserve, Reel.com, Barnes & Noble, Allegro (operating system) Allegro - The code name for the major Mac OS release due in mid-1998. http://devworld.apple.com/mkt/informed/appledirections/mar97/roadmap.html. Music and Digital River. Three virtual worlds already in operation, known to Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f as V-Zones, are showcases for Avaterra.com's superior community-building capabilities. With explicitly structured virtual worlds and features like user-customizable graphics, highly interactive subscriber involvement, an in-world economy, and patented tools for social order and management, Avaterra.com's V-Zones have proven to deliver the highest "stickiness" factor on the Internet: 210 minute average V-Zone session length compared to 20 minutes for typical chat sites. "It has become evident that Internet users are just not satisfied with the same old interface for Web Sites and chat environments," said David Andrews
David Andrews (born March 15, 1936) is a former Irish Fianna Fáil politician and barrister. Early life , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Avaterra.com. "Avaterra's technology provides involvement on multiple levels, a revolutionary platform for events, community building, electronic commerce, rich media advertising, and other new Internet-based applications for consumers and businesses." About Avaterra.com, Inc. Avaterra.com builds sustaining Virtual Zone communities on the Internet. Three showcase V-Zones in operation include ClubConnect, Dreamscape, and New Radio World. Members participate in the form of avatars (customized graphical representations of themselves) and are able to navigate (1) "Surfing the Web." To move from page to page on the Web. (2) To move through the menu structure in a software application. through graphically rich communities in both high- and low-bandwidth environments, see and interact with other members, rent their own apartments, hold events, and buy products at local virtual stores. Avaterra.com derives revenue from its unique advertising venues, fee-based membership, custom virtual community development and software co-licensing. Avaterra.com's showcase V-Zones have been online for over three years. Avaterra Citizens meet 24 hours a day from around the world. In keeping with U.S. law, Avaterra.com notes that this press release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Actual results may vary significantly due to various risks and uncertainties. Those include, but are not limited to, the risk that new technologies are inherently subject to development, timing and consumer acceptance risks. All trademarks, trade names, registered trademarks, or registered trade names are property of their respective holders. |
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