BiznessOnline.com Acquires Infoboard, Inc. Expanding Web Application Solutions.WALL, N.J. & Lynn, Mass.--(BUSINESS WIRE)--Oct. 1, 1999-- In a move that solidifies and broadens the Company's Applications Services and enhanced web development teams, BiznessOnline.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: BIZZ) announced today it has acquired Infoboard, Inc., a web application service provider and host to more than 3,200 web domains, based in Lynn, Massachusetts. Infoboard specializes in mission-critical high-end web development services and provides both UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and NT hosting. Infoboard is cash flow positive and its income is expected to be accretive to BIZZ's 1999 EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become earnings. Infoboard is forecast to generate approximately $1.2 million in revenue during the year ended December 31, 1999, which brings BiznessOnline.com's total run rate to approximately $11 Million. Infoboard serves customers such as: American Honda Motor Company, BioWhittaker Molecular Applications, H.P. Hood, Micron PC Partners and Simons, and American Ballet Theatre American Ballet Theatre, one of the foremost international dance companies of the 20th cent. It was founded in 1937 as the Mordkin Ballet and reorganized as the Ballet Theatre in 1940 under the direction of Lucia Chase and Rich Pleasant. . Terms of the transaction were not disclosed. Mark E. Munro, 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 BiznessOnline.com, commented, "BIZZ is fast becoming one of the largest regional Internet and Web Applications services provider in the Northeast's secondary markets, and Infoboard's expertise and customers fit well with the Company's direction. Now we'll host over 7,000 domains on our servers, and with this transaction BiznessOnline.com's revenue composition will be split evenly between commercial and residential sales." Mr. Munro also remarked, "Infoboard is a great strategic acquisition that significantly enhances our web hosting capabilities. Also, its customer base gives us more opportunities to cross-sell BIZZ's enhanced web application development services, and, just as important, its staff, bring BiznessOnline.com a great deal of HTML HTML in full HyperText Markup Language Markup language derived from SGML that is used to prepare hypertext documents. Relatively easy for nonprogrammers to master, HTML is the language used for documents on the World Wide Web. , UNIX, NT programming and network talent." Richard Frenkel, President of Infoboard said, "BiznessOnline.com will be able to provide much more bandwidth and redundancy to our customers, as well as an array of other Internet services that Infoboard does not currently provide. We're looking forward to being able to offer all our clients more complete e-commerce packages, interactive web development services, and database mining with BIZZ. It is a mutually beneficial arrangement that will help us boost Infoboard's and BiznessOnline's growth." Infoboard provides web hosting services to over 3,200 web domains and provides its accounts with fault tolerant round-the-clock managed networks, and secure, encrypted server space. Infoboard also designs web sites and creates e-commerce applications for businesses. The Infoboard acquisition strengthens BiznessOnline.com's growing web development and UNIX and NT hosting services by extending its services with Infoboard's server farm and application services. And, as a result, BiznessOnline.com will be able to host more web sites, intranets/extranets and develop databases for companies seeking to expand their Internet presence. BiznessOnline.com is one of the leading regional providers of Internet and Web Application services to small and medium-sized businesses and residential accounts in underserved secondary markets in the northeastern United States. The Company offers bundled, tier-1 network broadband services via DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , Frame Relay, and T-1 and T-3, new web media and e-commerce development, web hosting, and dial-up services. BiznessOnline.com's corporate offices are located in Wall, N.J., and the Company can be found on the World Wide Web at www.biznessonline.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Certain of these statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including risks related to the Company's growth strategy, the ability to complete and integrate acquisitions, market demand for the company's services, and other factors affecting the Company's prospects as described in the Company's filings with the Securities and Exchange Commission, including the Company's prospectus in its Form SB-2 registration statement. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. L.G. Zangani, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control provides financial public relations Financial public relations Public relations division of a company charged with cultivating positive investor relations and proper disclosure information. service to the Company, As such L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most and or other services in the form of moneys, capital stock in the Company, warrants or options to purchase capital in the Company. |
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