BioNet Systems, LLC Acquires the Assets of Net Nanny Software International, Inc.Business Editors, Technology Writers BELLEVUE, Wash.--(BUSINESS WIRE)--Nov. 14, 2002 Bellevue company brings new resources to expand market presence of popular Internet safety and security software product lines Software Product Lines, or software product line development, refers to engineering methods, tools and techniques for creating a collection of similar software systems from a shared set of software assets using a common means of production. , Net Nanny(R) and BioPassword(R) BioNet Systems, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a privately held Limited Liability Company based in Bellevue, Washington announced that it has acquired the assets of Net Nanny Software International, Inc.(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :NNS NNS Newport News Shipbuilding NNS National Numeracy Strategy NNS Norfolk Naval Shipyard (Portsmouth, VA) NNS Newhouse News Service NNS Non-Native Speaking NNS Network Node Server (Cisco) )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NNSWF) one of the leading developers of Internet safety and security software. BioNet Systems plans an aggressive sales and marketing strategy to expand upon Net Nanny's well known core products: Net Nanny(R) 5, the first name in Internet filtering software; and BioPassword(R) 4.5 and BioPassword(R) SDK (Software Developer's Kit) See developer's toolkit and Windows SDK. SDK - Software Developers Kit (or "Software Development Kit"). 2.0, patented biometric security technologies that provide two-factor strong user authentication. Net Nanny was very pleased to reach an agreement with BioNet Systems for the purchase of its assets in return for a three-year stream of cash payments, certain debt forgiveness, and an interest in BioNet Systems. "Net Nanny has developed superb technology," commented Mark DiSalle, the 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 BioNet Systems, "and is recognized worldwide as a value leader in the filtering industry with additional complementary products soon to be released. Net Nanny has also patented BioPassword(R), the world's first software-only biometric authentication product. We are extremely excited about the future of these two technologies and we will apply additional resources in order to expand the market share for these products." "The last several years have been very difficult for the company, from a financial standpoint," stated Gordon Ross, founder and CEO of Net Nanny Software. "Despite the difficult financial obstacles, we have continued to build upon our outstanding world-wide brand equity by launching a new product line and making product improvements that have been well received by our customers. BioNet Systems shares our vision of being the leader in Internet safety and security and has the resources necessary to achieve this vision." About BioNet Systems, LLC BioNet Systems LLC. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with headquarters in Bellevue, Washington. About Net Nanny Software International Inc. Net Nanny Software International Inc., a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. (TSX:NNS) (OTCBB:NNSWF), with headquarters and subsidiaries in the United States and Canada, specializes in Internet safety and computer security products for both the home and enterprise markets. For more information on the Company and its products, please visit www.netnanny.com, www.biopassword.com. Note to Readers Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the development of the Internet as a commercial medium, market acceptance risks, technological development risks, seasonality and other risk factors. |
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